PUNE, India, July 19, 2017 /PRNewswire/ --
The report "Complex Fertilizers Market by Type (Incomplete, Complete), Crop Type (Cereals, Oilseeds, Fruits & Vegetables), Form (Solid, Liquid), and Region (North America, Europe, Asia-Pacific, South America, and Rest of the World) - Forecast to 2022", published by MarketsandMarkets™, the Complex Fertilizers Market was valued at USD 44.03 Billion in 2016. It is projected to grow at a CAGR of 6.5% from 2017, to reach a projected value of USD 54.32 Billion by 2022.
Browse 81 Market Data Tables and 41 Figures spread through 148 Pages and in-depth TOC on "Complex Fertilizers Market - Forecast to 2022"
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The growth in the Complex Fertilizers Market is driven by advanced farming technologies that ensure safe and reliable application of complex fertilizers. Hence, complex fertilizers will be viewed as a business opportunity in the next five years. As a result, many multinational players have made investments to increase their production capacity and to produce various complex fertilizers that are crop-specific.
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Significant growth expected in the incomplete complex fertilizers segment
The incomplete complex fertilizers segment is projected to be the fastest-growing type in the next five years as a result of an increase in awareness about multi nutrient complex fertilizers in the soil is driving the demand for this segment. Incomplete fertilizers are generally used to overcome specific nutrient deficiencies in the soil. They are usually less expensive than complete fertilizers and require more skill to use properly. Because of its moderately high supplement substance and its excellent physical properties, diammonium phosphate fertilizer segment dominated the global Complex Fertilizers Market in 2016, and the trend is projected to continue till 2022.
The oilseeds segment is projected to be the fastest-growing during the forecast period
In terms of volume, the oilseeds segment is expected to grow at the highest CAGR from 2017 to 2022. Over the last few years, there has been a surge in the global demand for oilseeds, due to the use of vegetable oil for biodiesel and human consumption. Oilseeds are widely consumed by people in developing countries and are gaining even more importance as cash crops.
Increase in export of agricultural produce and changes in farming practices key to success in the South American region
The South American region is projected to be the fastest-growing market for complex fertilizers owing to the rise in agricultural exports from South American countries. New techniques and technology are being used to bring formerly unusable and barren lands into productivity. Brazil and Argentina constituted the largest country-level markets in the South American region in 2016.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include Agrium Inc. (Canada), CF Industries Holdings Inc. (U.S.) Haifa Chemicals Ltd (Israel), Yara International ASA (Norway), The Mosaic Company (U.S.), EuroChem Group AG (Switzerland), Potash Corporation of Saskatchewan (Canada), Coromandel International Limited (India), PhosAgro (Russia), and Helena Chemical Company (U.S.).
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Starter Fertilizers Market by Nutrient Component (Nitrogen, Phosphorus, Potassium, and Micronutrients), Form (Dry and Liquid), Crop Type, Method of Application, and Region - Global Forecast to 2022
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