Complex Fertilizers Market Size, Share, Growth, Trends, and Forecast - 2022

The complex fertilizers market is projected to grow at a CAGR of 6.5% from 2017, to reach a projected value of USD 54.32 Billion by 2022. Both demand and supply of compound fertilizers are expected to witness tremendous growth in 2017, and both are expected to grow steadily in the future. Increased demand for NPK gives fertilizer producers the challenge of finding the most cost-effective solutions to diversify their range of products with the possibility of adapting to the changing market trends and the requirements of their customers.

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Significant growth expected in the incomplete complex fertilizers segment

The incomplete complex fertilizers segment is projected to be the fastest-growing type in the next five years as a result of an increase in awareness about multi nutrient complex fertilizers in the soil is driving the demand for this segment. Incomplete fertilizers are generally used to overcome specific nutrient deficiencies in the soil. They are usually less expensive than complete fertilizers and require more skill to use properly. Because of its moderately high supplement substance and its excellent physical properties, diammonium phosphate fertilizer segment dominated the global complex fertilizers market in 2016, and the trend is projected to continue till 2022.

The oilseeds segment is projected to be the fastest-growing during the forecast period

In terms of volume, the oilseeds segment is expected to grow at the highest CAGR from 2017 to 2022. Over the last few years, there has been a surge in the global demand for oilseeds, due to the use of vegetable oil for biodiesel and human consumption. Oilseeds are widely consumed by people in developing countries and are gaining even more importance as cash crops.

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Increase in export of agricultural produce and changes in farming practices key to success in the South American region

The South American region is projected to be the fastest-growing market for complex fertilizers owing to the rise in agricultural exports from South American countries. New techniques and technology are being used to bring formerly unusable and barren lands into productivity. Brazil and Argentina constituted the largest country-level markets in the South American region in 2016.

This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include Agrium Inc. (Canada), CF Industries Holdings Inc. (U.S.) Haifa Chemicals Ltd (Israel), Yara International ASA (Norway), The Mosaic Company (U.S.), EuroChem Group AG (Switzerland), Potash Corporation of Saskatchewan (Canada), Coromandel International Limited (India), PhosAgro (Russia), and Helena Chemical Company (U.S.).

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