Indian Government Initiatives
In 2020, Government to bring PLI (production-linked incentives) scheme to promote domestic agrochemicals manufacturing
In 2021, DBT (Direct Benefit Transfer) scheme for fertilizer subsidy.
As per the Department of fertilizer of India, Urea is the major utilized fertilizer followed by DAP, NP/NPCs, SSP, MOP, with domestic sales continuously growing. Urea fertilizers are the most common ones and will capture half of the market share of the fertilizer market. In 2019, IFFCO (Indian Farmers Fertilizer Cooperative Limited), the premier farmers' cooperative, launched the world's first nano urea liquid fertilizer, which is cheaper and easier to store. As per our research findings, the Indian Fertilizers Industry is expected to grow with a CAGR of 6.44% from 2020 to 2026.
Indian agricultural policy focused on modern inputs and increasing productivity, such as irrigation, improved seeds (HYVs), and chemical fertilizers, which have played an essential role in increasing crop production and productivity. The production of DAP (Diammonium Hydrogen Phosphate) and Complex fertilizers is increasing in the country. DAP are a major cropping fertilizer as it is a crucial source of nitrogen and phosphorus. It is widely used for various crops in broad-acre farming, horticultural crops, dairy pastures, sugarcane, sowing pastures, fodder and crops cereals. The production of DAP in the India boosted the higher demand for fertilizer.
The Impact of Global Pandemic Covid-19 on Indian Fertilizer Industry
Covid-19 has translated into improving the underlying macros for the Indian fertilizer industry. Rural markets demand has been buoyed and was very promising despite the coronavirus pandemic and macroeconomic uncertainty. The Indian fertilizer industry is low, as the national Government exempted the agriculture sector from lockdown restrictions. The industry faced challenges in terms of raw materials and shortage of labor due to nationwide lockdown. The Indian Government took steps to ensure fertilizers are available to the farmers even during the lockdown, which resulted in the expanded sales of fertilizers. India Fertilizers Market was US$ 18.11 Billion for the year 2020.
Key Players in the India Fertilizer Market
The major vital players in the Indian fertilizer market include Nagarjuna Fertilizers and Chemicals Ltd, Chambal Fertilizers and Chemicals Ltd, Rashtriya Chemicals and Fertilizers Limited, and National Fertilizers Coromandel International Ltd. The Indian fertilizer industry is fragmented, with a mix of cooperatives garnering and government-owned a vast market share in the complex and straight fertilizer - private companies involved in a high degree of product innovation to tap the non-subsidy space.
The report titled “India Fertilizer Market by consumption (Urea, DAP, NP/NPKs, SSP, MOP) by production (Urea, DAP, Complex Fertilizers) by company (Nagarjuna Fertilizers and Chemicals Ltd, Chambal Fertilizers and Chemicals Ltd, Rashtriya Chemicals and Fertilizers Limited, National Fertilizers ltd, Coromandel International Ltd)” provides an all-encompassing analysis on the India Fertilizer Industry.
Consumption - India Fertilizer Market have been covered from 5 viewpoints
1. Urea
2. DAP
3. NP/NPKs
4. SSP
5. MOP
Production - India Fertilizer Market have been covered from 3 viewpoints
1. Urea
2. DAP
3. Complex Fertilizers
Company Have been covered by 3 view point
- Overview
- Recent Development
- Financial Insight
Company Analysis
1. Nagarjuna Fertilizers and Chemicals Ltd.
2. Chambal Fertilizers and Chemicals Ltd.
3. Rashtriya Chemicals and Fertilizers Limited.
4. National Fertilizers ltd.
5. Coromandel International Ltd
What is the estimated value of the Indian Fertilizer Market?
What is the growth rate of the Indian Fertilizer Market?
What is the forecasted size of the Indian Fertilizer Market?
Who are the key companies in the Indian Fertilizer Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | July 2021 |
| Forecast Period | 2020 - 2026 |
| Estimated Market Value ( USD | $ 18.11 Billion |
| Forecasted Market Value ( USD | $ 26.33 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | India |
| No. of Companies Mentioned | 5 |
Table of Contents
Companies Mentioned
- Nagarjuna Fertilizers and Chemicals Ltd.
- Chambal Fertilizers and Chemicals Ltd.
- Rashtriya Chemicals and Fertilizers Limited.
- National Fertilizers ltd.
- Coromandel International Ltd.
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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