Complex Fertilizers market Is Projected To Grow At a Cagr Of 6.5% Upto 2026 | Yara International ASA, Potash Corporation of Saskatchewan Inc.,

Compound fertilisers (compound fertilisers) are made by combining two or more macronutrient fertilisers. These fertilisers can be combined with trace or secondary nutrients, such as calcium, magnesium, and sulphur, to supply additional plant nutrition. Granular or liquid complex fertilisers can be delivered and packaged.

Increasing demand for nutrient specific fertilizers along with requirement of high crop yield for biofuel production is expected to drive growth of the complex fertilizers market over the forecast period. For instance, in 2017, the Indian biofuels industry invested US$ 2.25 billion in the upcoming projects over the next years to increase the industry’s value to US$ 7.5 billion by 2022.

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Detailed Segmentation:

Global Complex Fertilizers Market, By Product Type:
Complete Complex Fertilizers
NPK (15-15-15)
NPK (12-32-16)
NPK (10-26-26)
NPKS
Others

Incomplete Complex Fertilizers
Monoammonium Phosphate
Diammonium Phosphate
Monopotassium Phosphate
Potassium Nitrate
NKS
Others

However, increasing inclination toward adoption of organic fertilizer is one of the major restraining factor for growth of the global complex fertilizers market. According to Research Institute of Organic Agriculture (FiBL) report, in 2015, over 50.9 million hectares of land was occupied by organic agricultural activities. The regions with the largest areas of organic agricultural land are Oceania (22.8 million hectares, which is almost 45 percent of the world’s organic agricultural land) and Europe (12.7 million hectares, 25 percent).

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Asia Pacific was the leading region in the global complex fertilizers market in 2017, with a revenue of US$ 15,769 million and it expected to retain its dominance throughout the forecast period. Increasing demand for food from the countries in this region backed by rising population is one of the major driving factors for growth of the complex fertilizers market in Asia Pacific. For instance, according to the study conducted by Asia Development Bank, 2013, Asia Pacific is expected to account for one-third of the projected 2.6 billion increase in global population between 2010 and 2050, thus requiring additional measures to increase the productivity to serve increasing population.

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