New York, NY -- (SBWire) -- 04/28/2021 --The global Mineral Fertilizers market is forecast to reach USD 130.72 Billion by 2027, according to a new report by Reports and Data. An increase in global population, and economic growth is a major driving factor of the market.
The market, mainly in the emerging nation, is growing with the support of the government. Governments all across the globe are offering support in the form of subsidies, incentives, loans, and tax waivers on agricultural fertilizers, which is boosting the overall industry. Rising interest rate, soil erosion, reduction in free trade, increasing usage of bio-fertilizers, government regulations, alternative farming prices, and increasing trend of organic food are also restricting the demand of the market.
Companies considered and profiled in this market study
Yara International, Israel Chemicals Ltd., The Mosaic Company, Uralkali, Bunge Ltd., CF Industries Holdings Inc., Eurochem Inc., SQM, Coromandel International Ltd., and Sinofert Holdings Ltd, among others.
Impact of COVID-19:
The widespread of the COVID-19 has created a ripple effect that is affecting all sectors everywhere. The borders are being closed, vessels are being quarantined, and the movement of the people is also being tracked. Products are being constrained, including fertilizers and their raw materials. A disruption of the fertilizer industry across the globe is expected in the coming days.
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For the purpose of this report, Reports and Data have segmented into the global Mineral Fertilizers market on the basis of type, application, application method, and region:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
Nitrogen
Phosphate
Potash
Other
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
Seed Treatment
Soil Treatment
Root Dipping
Others
Application Method Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
Foliar Spray
Fustigation
Drop Spreading/Placement
Broadcasting
Market Segmentation by region:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of LATAM)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Further key findings from the report suggest:
In the year 2019, the demand for nitrogen prices was under pressure for various reasons. Lower energy prices, weak trade growth, and trade disruptions kept the price from rising much the previous year. The segment still held the largest market share of 33.9% in the year 2019.
China, Egypt, and Southeast Asia have all increased the production of urea from the year 2018. The only region that saw a dramatic decrease of 39% was Iran, due to the U.S. sanctions. India witnessed a large increase in the urea imports due to strong sales and low production in the country.
Seed treatments have evolved over the years from merely protecting the seed to helping them improve long-term plant health, which led to higher production and better quality. The seed treatments are designed to enhance growth, plant emergence, and nutrition efficiency, which, with crop immunity, promote a more uniform and vigorous crop.
Asia Pacific held the largest market share of 58.1% in the year 2019. East and South Asia are the major consumer of fertilizers in the region. Most of the countries in the region are the agricultural economy, and the government's initiative to promote better crop production propelled the demand for the market product.
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2027
Chapter 3. Indicative Metrics
Chapter 4. Mineral Fertilizers Market Segmentation & Impact Analysis
4.1. Mineral Fertilizers Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market driver's analysis
4.2.2.1. Increase in world population
4.2.2.2. Growing government support
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Mineral Fertilizers Market Size Worth USD 130.72 Billion to 2027 by Top Players Yara International, Israel Chemicals Ltd., the Mosaic Company, Etc
The growing demand for food owing to an increase in world population is driving the market for mineral fertilizers.