India Complex Fertilizer Market is Driven by Expected Manufacturing Capacity Expansion and Growing Nutrient Balance due to Overuse of Urea: Ken Research

India Complex (NPK) Fertilizer Market by product form (Granulated/Fused or Blended), by type (two or three nutrients), by crops (cereals, oilseeds, fruits & vegetables and others), by grade (NPK 20-20-0, NPK 10-26-26, NPK 12-32-16, NPK 17-17-17 and Others), company profiles of major players including Coromandel International, IFFCO, Paradeep Phosphates, Rashtriya Chemicals and Fertilizers Limited, Fertilizers and Chemicals Travancore, Gujarat State Fertilizers & Chemicals Limited, Gujarat Narmada Valley Fertilizers & Chemicals Limited, Madras Fertilizers Limited, Deepak Fertilizers and Petrochemicals Corporation Limited, Mangalore Chemicals & Fertilizers Limited, Zuari Fertilzers and Chemicals Limited, Tata Chemicals Limited, Greenstar Fertilizers Limited.

• The ideal N:P:K nutrient balance for Indian soil is 4:2:1 while the actual ratio was 6.8:2.7:1 at the end of FY’2017. The nutrient imbalance is a result of overuse of urea and low use of NPK which makes the soil acidic. With schemes such as soil health cards being implemented by Government of India to determine the soil health and advice farmers on the right fertilizers usage, the demand outlook for complex fertilizers remains positive.

Several companies including Coromandel International, Paradeep Phosphates and Fertilizers and Chemicals Travancore have announced investments to increase their production capacity of complex fertilizers. New entrants OCP and Kribhco announced that they are entering into a 50:50 joint venture to develop a large-scale greenfield NPK fertilizer plant in Krishnapatnam, Andhra Pradesh in October 2016. The companies intend to invest around USD 230 million in establishing a manufacturing plant which will have an annual production capacity of 1.2 MT of NPK fertilizers.

The Direct Transfer Benefit will soon be deployed across the country from 2018 onwards, since the pilot projects have indicated a success. This will help to bring soil health in focus and curb any pilferages and leakages in the subsidy reimbursement process as every sale made will be recorded in the POS machine. The process will streamline and enable in quick subsidy disbursal to the manufacturers within weeks and it will ensure the fertilizer is received by the farmer himself.

Growing emphasis on curbing soil pollution, streamlining subsidy disbursal and expected capacity expansion projects are expected to augment the demand for complex fertilizers in India, according to Analyst at Ken Research.

Ken Research in its latest study, India Complex (NPK) Fertilizer Market Outlook to 2022 – Expected Manufacturing Capacity Expansion by Domestic Manufacturers in Next 5 Years suggested that Coromandel International, IFFCO, Paradeep Phosphates, Rashtriya Chemicals and Fertilizers Limited will remain the major players in this space in India. However, these major players will witness rising competition from other existing and new entrants launching cheaper and better products in the market.

For more information on the research report, refer to below link:
https://www.kenresearch.com/agriculture-and-animal-care/crop-protection/india-complex-fertilizer-market/143968-104.html

Related Reports by Ken Research:
https://www.kenresearch.com/agriculture-and-animal-care/crop-protection/asia-complex-npk-fertilizer-market/143884-104.html

https://www.kenresearch.ae/agriculture-and-animal-care/crop-protection/china-complex-fertilizer-market/143967-104.html

https://www.kenresearch.com/agriculture-and-animal-care/farming/us-micro-irrigation-systems-market-report/42041-104.html

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