In the present context, globally, correcting the imbalance in the soil nutrients and improving soil health has become an utmost important issue. Additionally, the need to supply a growing population, with increasingly diverse and crop-intensive diets, with more food from limited land resources drives the market growth. Globally, the government is also implementing several policies for the expansion of the market.
Specialty Fertilizers Segments Analysis
UAN is an exceptional irrigation fertilizer for cereal production and irrigated plant cultivation. It is used before ploughing the field, which helps in enhancing its degradation. Urea ammonium nitrate (UAN) solutions are extensively used as a source of nitrogen for plant nutrition. In combination with plant protective agents, it is mixed in the irrigation water for irrigated plant cultivation. Fluid fertilizers are mixed to meet the specific needs of a crop. Its advantage is that it contains both fast (nitrate-nitrogen) and slow (ammonium nitrogen and amide nitrogen) components, just as ammonium nitrate and urea.
Apart from UAN, other distinct fertilizer products like Calcium Ammonium Nitrate, Mono Ammonium Phosphate, Potassium Sulphate and Potassium Nitrate also exists in the market for crops like Cereals & Grains, Oilseeds, Fibre Crops, Sugar Crops, Roots & Tubers and Fruits & Vegetables. Further, rising exports of fruits & vegetables have also led to the growth in the crop plantation region, which has resulted in a increase in their production levels. Hence, the distinct speciality fertilizer market for fruits & vegetables is projected to witness significant growth. The Specialty Fertilizers Industry across the world is projected to grow at a CAGR of 8.10% during 2020 - 2027.
By Type - Specialty Fertilizers Analysis
Controlled-Release Fertilizers, Water-Soluble Fertilizers, Agricultural Micronutrients and Customized Fertilizers come under speciality fertilizer’s ambit. Wherein water-soluble fertilizers are amongst the category which at present is one of the fastest-growing speciality fertilizers worldwide. Similarly, customized fertilizers are a combination of nutrients (primary, secondary and micro-nutrients) developed as per the requirement of the crop grown. The nutrient status of the soil in a region is significantly catching up pace in the market forecasted to grow during the forecast period.
Regional Analysis of Specialty Fertilizers Market Size
Additionally, there remains a continuous significant potential opportunity for global regions like North America, Europe, Asia Pacific and South America to increase their participation in this growing business of speciality fertilizers. Numerous countries like India, China, United States, Brazil, and Argentina seek to increase crop production, including high-value crops, to cater to the growing and increasingly sophisticated food demands.
Hence, the demand for speciality fertilizers globally continues to increase at a faster rate than commodity products, the production of speciality products is also expected to be rising in line. According to the publisher, Global Specialty Fertilizers Market is projected to reach US$ 50.51 Billion by 2027.
COVID-19 Impact on Global Specialty Fertilizers Market
The impact of the COVID-19 pandemic on the speciality fertilizers market has been minimal, mainly due to transportation barriers. Most companies are running their operations smoothly from May 2020 in many regions due to government relaxation measures. However, the import of fertilizers from different countries is still delayed in some south Asian countries due to extended lockdowns. Companies have inventories sufficient only for few months, so further delay in supply might be a loss to them, especially during the sowing period.
The Global Specialty Fertilizer Market is highly competitive markets wherein companies are competing based on product quality and promotion and are focused on strategic moves aimed at occupying larger market shares. The significant companies studied in our report include The Mosaic Company, CF Industries Holdings Inc., EuroChem Group, Nufarm, Yara International ASA and OCI Nitrogen.
This latest report Specialty Fertilizers Market, Global Forecast By Fertilizer Segments (Urea-Ammonium Nitrate, Calcium Ammonium Nitrate, Monoammonium Phosphate, Potassium Sulfate, Potassium Nitrate, Others), Crop (Cereals & Grains, Oilseeds, Fiber Crops, Sugar Crops, Roots &Tubers, Fruits & Vegetables, Others), Type (Controlled-Release Fertilizers, Water-Soluble Fertilizers, Agricultural Micronutrients, Customized Fertilizers), Region (North America, Europe, Asia Pacific, South America, Rest of World), Companies (The Mosaic Company, CF Industries Holdings Inc., EuroChem Group, Nufarm, Yara International ASA, OCI Nitrogen)” provides a detailed analysis of Global Specialty Fertilizers Industry.
By Fertilizer Segments market has been covered from 6 viewpoints:
1. Urea-Ammonium Nitrate
2. Calcium Ammonium Nitrate
3. Monoammonium Phosphate
4. Potassium Sulfate
5. Potassium Nitrate
6. Others
By Crop market has been covered from 7 viewpoints:
1. Cereals & Grains
2. Oilseeds
3. Fiber Crops
4. Sugar Crops
5. Roots &Tubers
6. Fruits & Vegetables
7. Others
By Type market has been covered from 4 viewpoints:
1. Controlled-Release Fertilizers
2. Water-Soluble Fertilizers
3. Agricultural Micronutrients
4. Customized Fertilizers
By Region market has been covered from 5 viewpoints:
1. North America
2. Europe
3. Asia Pacific
4. South America
5. Rest of World
Company Insights:
- Overview
- Recent Development
- Financial Insight
Companies Covered:
1. The Mosaic Company
2. CF Industries Holdings Inc.
3. EuroChem Group
4. Nufarm
5. Yara International ASA
6. OCI Nitrogen
Table of Contents
Companies Mentioned
- The Mosaic Company
- CF Industries Holdings Inc.
- EuroChem Group
- Nufarm
- Yara International ASA
- OCI Nitrogen
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | July 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 29.29 Billion |
| Forecasted Market Value ( USD | $ 50.51 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
