Press release
Chemical Fertilizers Market Size Forecasted To Achieve $284.96 Billion By 2029 With Steady Growth
Chemical Fertilizers
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What Is the Chemical Fertilizers Market Size and Projected Growth Rate?_x000D_
The chemical fertilizers market size has expanded substantially. It is expected to grow from $192.5 billion in 2024 to $210.18 billion in 2025 at a CAGR of 9.2%. Contributing factors have been improvements in agricultural output, growing global food needs, innovation in fertilizer production and logistics, evolving farming techniques, and declining soil quality._x000D_
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The chemical fertilizers market is projected to grow strongly, reaching $284.96 billion by 2029 with a CAGR of 7.9%. The growth is driven by factors like sustainable agriculture practices, the impact of climate change, the adoption of precision agriculture, regulatory changes, and the effects of population growth and urbanization. Major trends include customized fertilizer blends, slow-release and controlled-release fertilizers, biofertilizers, biostimulants, nutrient management technologies, and organic farming practices._x000D_
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What Are the Major Segments in the Chemical Fertilizers Market?_x000D_
The chemical fertilizers market covered in this report is segmented -_x000D_
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1) By Type: Nitrogen Fertilizer, Phosphate Fertilizer, Potash Fertilizer_x000D_
2) By Crop Category: Cereals, Oilseeds, Vegetables, Fruits, Other Crop Categories_x000D_
3) By Form: Solid, Liquid, Gaseous_x000D_
4) By Product Type: Complex Fertilizers, DAP, MOP, Urea, SSP, Other Product Types_x000D_
5) By Method of Application: Broadcasting, Drop Spreading, Fertigation, Foliar Spray_x000D_
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Subsegments:_x000D_
1) By Nitrogen Fertilizer: Urea, Ammonium Nitrate, Ammonium Sulfate, Calcium Ammonium Nitrate (CAN), Other Nitrogen Fertilizers_x000D_
2) By Phosphate Fertilizer: Single Superphosphate (SSP), Triple Superphosphate (TSP), Diammonium Phosphate (DAP), Monoammonium Phosphate (MAP), Other Phosphate Fertilizers_x000D_
3) By Potash Fertilizer: Muriate Of Potash (MOP), Sulfate Of Potash (SOP), Other Potash Fertilizers_x000D_
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What Are The Driving Chemical Fertilizers Market Evolution?_x000D_
Farmers worldwide are adopting intensive farming practices to boost land productivity. These techniques, such as using chemical fertilizers and pesticides, help meet the growing food demands of the increasing population and prevent food shortages. For example, monoculture farming, which involves growing a single crop over large areas, increases dependency on synthetic fertilizers to replenish soil nutrients, driving demand for fertilizers._x000D_
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Which Firms Dominate The Chemical Fertilizers Market Segments?_x000D_
Major companies operating in the chemical fertilizers market include Sinopec Limited, Yara International ASA (ADR), Guardian Industries LLC, Nutrien Ltd, Marubeni Corporation, Mitsui & Co. Ltd., BASF SE, CF Industries Holdings Inc, Israel Corp Ltd, Sinofert Holdings Limited, Central Farmers Fertilizers Industries, The Mosaic Company, Haifa Group, Indian Farmers Fertiliser Co-operative Limited (IFFCO), Oriental Chemicals Iimited, Abu Qir Fertilizers and Chemicals, Acron Group, Intrepid Potash Inc., EuroChem Group AG, Uralkali, PhosAgro, PotashCorp, Agrium, Kali und Salz (K+Z), Coromandel International Limited, Gujarat State Fertilizers & Chemicals Ltd., Chambal Fertilisers and Chemicals Limited, Rashtriya Chemicals & Fertilizers Ltd., Deepak Fertilisers and Petrochemicals Corporation Ltd., Zuari Agro Chemicals Ltd., National Fertilizers Limited, Fertiberia, Office Chérifien des Phosphates (OCP) Group, Sociedad Química y Minera de ( SQM ), Potash Ridge Corporation._x000D_
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What Trends Are Expected to Dominate the Chemical Fertilizers Market in the Next 5 Years?_x000D_
Companies in the chemical fertilizers market are focusing on advanced solutions like water-soluble micronutrients and N-P-K fertilizers to meet industry demands. In June 2023, ICL launched a range of water-soluble fertilizers for foliar and fertigation applications. These fertilizers, designed to maximize solubility and nutrient availability, help growers overcome challenges like nutrient deficiencies and plant stress, offering tailored solutions for improved crop yields._x000D_
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Which Is The Largest Region In The Chemical Fertilizers Market?_x000D_
Asia-Pacific was the largest region in the chemical fertilizers market in 2023. North America was the second-largest region in the chemical fertilizers market. The regions covered in the chemical fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa._x000D_
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Frequently Asked Questions:_x000D_
1. What Is the Market Size and Growth Rate of the Chemical Fertilizers Market?_x000D_
2. What is the CAGR expected in the Chemical Fertilizers Market?_x000D_
3. What Are the Key Innovations Transforming the Chemical Fertilizers Industry?_x000D_
4. Which Region Is Leading the Chemical Fertilizers Market?
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