GCC Fertilizer Market Analysis, 2021

Market Overview

Fertilizers are chemical materials provided to the crops by farmers to enhance their potency and improve crop yield. These fertilizers comprise vital nutrients for the plants, like potassium, nitrogen, phosphorus, etc.

According to the publisher research report, “GCC Fertilizer Market Analysis, 2021,” the market is likely to grow at a CAGR of around 8.9% in the forecast period of 2021-26. The growth substantially owes to the rapidly surging demand for food & related products with the flooding population. The increasing production of fertilizer plants is accelerating the need for high-performance fertilizer enzymes, which are likely to witness consistent growth in the coming years. Furthermore, the changing consumer diet & lifestyle, economic development, and reducing fertile lands are other crucial factors likely to propel the growth of the GCC Fertilizer Market in the forecast period.

Impact of COVID-19

The outbreak of the Covid-19 pandemic impacted the GCC Fertilizers Market minimally, principally due to shipping restrictions. Most businesses are running their services smoothly in many countries after the gradual relaxation by the government. However, the market is likely to witness ups and downs in the early forecast years. The import of fertilizers across countries is still well-delayed in some areas due to extended lockdown phases. Moreover, numerous businesses have inventories sufficient only for a few months, which might bring further delay in the supply of fertilizers and turn out to be a loss in the sowing season.

Market Segmentation

Phosphatic Fertilizers to Witness the Fastest Market Growth

The GCC Fertilizer Market classifies into multiple divisions contributing to the market growth. Based on the product type, the market segments prominently into Nitrogenous fertilizers, Phosphatic fertilizers, Potassic fertilizers, and various others. Out of all, Phosphatic Fertilizers are more likely to witness the fastest growth than other fertilizers due to the booming population, rising demand for cereals & grains, and burgeoning meat consumption. Additionally, with the confined availability of arable soil, phosphate fertilizers can help develop crop yield smoothly. Hence, these factors shall fuel the demand for Phosphatic Fertilizers in the forecast period.

Bahrain Becomes the Fastest Growing Market Consumer

In Bahrain, Gulf Petrochemical Industries Company (GPIC) produced 1.6m tonnes of urea, ammonia, and methanol of about 1.4% in the previous year and grew higher than its annual targets. Furthermore, Bahrain attains the highest record of the daily production of urea at the rate of 2,055 tonnes and adds up new records per month for methanol at the rate of 62,300 tonnes. The GPIC reveals that it exported 676,791 tonnes. Hence, it has become the fastest consumer in the market, states the author in their research report, “GCC Fertilizer Market Analysis, 2021.”

Country Landscape

Qatar Attains the Largest Market Share

While all GCC countries contribute to the market share at a firm pace, Qatar is more likely to attain the largest market share in the forecast years, owing to the massive investments by governments in research & development because of the rigorous management and product complexities. It is predominantly due to the sales of fertilizer products that vary depending on climatic conditions & crop variance. Furthermore, multiple market players are introducing modern technologies and making investments in the GCC Fertilizer market to increase the production capacity & reduce costs. Hence, based on these aspects, Qatar shall witness robust market growth in the forecast years.

Market Driver

The GCC region is one of the largest producers of fertilizers and exports a prominent part of the production to numerous other countries. The countries shipping fertilizers from the GCC include the United States, India, Thailand, and Brazil, accommodating about 70% of the total fertilizer exports. Furthermore, the expanding demand for fertilizers within GCC countries is another factor burgeoning the overall market growth in the forecast period.

Competitive Landscape

According to the publishers, the major leading players in the GCC Fertilizer Market are Qatar Fertilizer Company, Saudi Arabian Fertilizer Company, Gulf Petrochemical Industries Company, Fertil and Emirates BioFertilizer Factory, Emirates Bio Fertilizer Factory, Abu Dhabi Fertilizer Industries Co. W.L.L, RNZ International FZCO, SABIC, RNZ International FZCO, Ma’aden Wa’ad Al-Shamal Phosphate.

Key Questions Answered in the Market Research Report:

1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the GCC Fertilizer Market?
2. What are the country-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the GCC Fertilizer Market?
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in GCC Fertilizer Market based on the competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the GCC Fertilizer Market study?