Press release
Technological Advancements to Influence Water Soluble Fertilizer Market Growth 2016-2026
The main advantage of water soluble fertilizer over other type of fertilizers is the more rapid impact, ease of use and easier coverage. Hence, water soluble fertilizer are witnessing rapid growth in demand. Water soluble fertilizers can also be applied more frequently than granular fertilizers, therefore can be used according to the need and availability. The growing awareness over organic farming may affect the use of water soluble fertilizer in future.
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Water Soluble Fertilizer market: Drivers and Restraints
The ever increasing population is the main reason of increasing demand for food. The amount of yield produced hence has to be adequate to meet the demands. The positive outlook towards using technology and new products to maximize the yield is another factor responsible for driving the demand of water soluble fertilizers. The fertilizers world consumption in 2014/15 is growing by more than 3% year-on-year. The water soluble fertilizer industry was valued around U.S. $ 11 Bn and expected to grow at a CAGR of more than 5%.
On the other hand the harmful environmental effects of use of fertilizers such as imbalance in ecology, high traces of fertilizers in food and water resources may restrain the consumption of water soluble fertilizers. Furthermore, stringent government laws and awareness towards organic farming may slow down the consumption and demand of water soluble fertilizer in coming years.
Water Soluble Fertilizer Market: Segmentation
On the basis of type, the global water soluble fertilizer market is segmented into:
Nitrogen(N)
Potassium(K)
Phosphate(PO43-)
Secondary Nutrients
Micro-nutrients
On the basis of types of application, the global water soluble fertilizer market is segmented into:
Foliar
Fertigation
Water Soluble Fertilizer Market: Region Wise Outlook
Europe is estimated to be the largest market for global water soluble fertilizer with more than 1/3rd of the total consumption. In terms of growth rate, Asia pacific is the fastest growing market for the global water soluble fertilizer. Economic developments in African countries are estimated to benefit the water soluble fertilizer market during the forecast period.
Water Soluble Fertilizer Market: Key Players
Some of the key players identified in the global water soluble fertilizer market are Agrium Inc., Israel Chemical Ltd., The Mosaic Company, Haifa Chemicals Ltd., Yara International ASA, Zuari Industries Ltd., Indian Farmers Fertilizer Cooperative, Coromandel International Ltd., Rashtriya Chemicals & Fertilizers among many others.
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