Complex Fertilizers Market Set to Exceed USD 57.2 billion by 2026 Top Key Players: Potash Corporation of Saskatchewan Inc., Israel Chemicals Limited, CF Industries Holdings Inc., The Mosaic Company, PJSC PhosAgro, Adventz Group, Haifa Chemicals Ltd.

Global Complex Fertilizers market is expected to grow from USD 31.5 Billion in 2017 to USD 57.2 Billion by 2026, at a CAGR of 6.8% during the forecast period, according to a study published by Polaris Market Research.

The leading players present in the global complex fertilizers market are CF Industries Holdings Inc., Potash Corporation of Saskatchewan Inc., Israel Chemicals Limited, The Mosaic Company, PJSC PhosAgro, Adventz Group, Haifa Chemicals Ltd., Yara International ASA, and Eurochem Group AG among others.

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Complex fertilizers contain changeable ratios of two or three macronutrients namely nitrogen, phosphorous and potassium that are required by plants. The application of complex fertilizers simplifies the overall task of balancing soil nutrients as well as boosts the average yields of crops. The complex fertilizers are used to provide crops with necessary nutrients for plant nourishment that assures high efficiency in a range of climatic conditions thereby promising a good yield. The availability of complex fertilizers distributed and packaged in either granular or liquid form further leads to the higher demand for the product.

It is the combination of complex or compound fertilizers that provide multiple advantages like economic savings, convenience in the field, along with ease in meeting with the crop nutritional levels. These benefits have been some of the major drivers to boost the growth of the global complex fertilizers market. Moreover, higher demand for fertilizers that are nutrient specific along with greater requirement of better crop yield for production of bio-fuel will further act as some of the other key drivers for the market growth. Likewise, in 2017, the Indian bio-fuels industry invested around US$ 2.25 billion which is expected to increase the industry’s value to US$ 7.5 billion by 2022 showing the opportunity of growth for the market.

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However, it is the increasing inclination towards adoption of organic fertilizer that is acting as a major restraint for growth of the complex fertilizers market. The increasing demand for these complex fertilizers remains due to the high nutritional contents will further provide new growth opportunities for the market in future as well.

A few key strategies adopted by companies present in the global complex fertilizers market are focus on innovation and make heavy investments in the R&D as well as the new product launches. These companies hold special patents within the core market and help in launching products to gain competitive advantage.

The global complex fertilizers market is divided on the basis of product form, product type, crop type and region. Based on product form the market is bifurcated into solid and liquid. On the basis of product type, the complex fertilizers market includes complete complex fertilizers, and incomplete complex fertilizers. It is the incomplete complex fertilizers that held the largest market share of more than 70% globally. Incomplete complex fertilizers are more suitable for application in cereals, crops and vegetables, and for greenhouse applications making it one of the most used fertilizers all over the world.

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Considering the crop type segment of the complex fertilizers, the market is classified into cereals and grains, fruits and vegetables, and oilseeds among others. In this segment, it is the cereals & grains crop type that dominated the market and held the largest market share. Based on a study conducted by ADB or Asia Development Bank, in 2013, the Asia Pacific is expected to account for around one-third of the projected 2.6 billion growths in global population between 2010 and 2050. This has resulted requiring additional measures to increase the productivity for serving increasing population leading to the usage of complex fertilizers. It is the increasing demand for food from different countries in this region together backed by growing population has together formed one of the major driving factors boosting growth of the complex fertilizers market in Asia Pacific.

Key Segments

Product Type

• Complete Complex Fertilizers
• Incomplete Complex Fertilizers

Product Form

• Solid
• Liquid

Crop Type

• Cereals and Grains
• Fruits and Vegetables
• Oilseeds
• Others

Region

• North America

o U.S.
o Canada

• Europe

o Germany
o UK
o France

• Asia-Pacific

o China
o India
o Japan

• Latin America

o Brazil
o Mexico

• Middle East and Africa

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