SOURCE: Transparency Market Research, PVT LTD.

Transparency Market Research

May 20, 2015 09:05 ET

Water Soluble Fertilizers Market Is Expected to Reach USD 3.53 Billion by 2019: Transparency Market Research

ALBANY, NY--(Marketwired - May 20, 2015) - Transparency Market Research has released a new report titled “Water Soluble Fertilizers (Nitrogen, Potassium, Phosphate and Others) Market for Fertigation and Foliar Applications -- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” According to the report, the global Water Soluble Fertilizers Market was valued at USD 2.44 billion in 2012 and is anticipated to reach USD 3.53 billion by 2019, expanding at a CAGR of 5.6% during the forecast period from 2013 to 2019. The global market volume of water soluble fertilizers stood at 9,433.0 kilo tons in 2012.

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Growth of the fertigation application of water soluble fertilizers led by rising adoption of micro irrigation systems is likely to be the key driver for global water soluble fertilizers market during the next six years. However, hazardous effects of over fertilization, such as ocean dead zones, ground water contamination and disturbance in ecological balance, are estimated to hamper market growth during the forecast period.

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Water soluble fertilizers are mineral fertilizer formulations that are completely soluble in water. These fertilizers are used in fertigation and foliar applications that require micro irrigation systems for dispensing water soluble formulations of nutrients. Micro irrigation systems include drip irrigation equipment, micro sprinklers and sprays. Such systems provide better control over dispersion of water soluble fertilizers while being economical about the amount of fertilizers and water utilized as well as energy and labor spent on applying the fertilizers.

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The water soluble fertilizers market in Asia Pacific is projected to expand at a CAGR of 5.1% during the forecast period due to high demand from China and India. Demand for water soluble fertilizers is estimated to be significant in the near future due to increasing adoption rate of micro irrigation systems in the region. Furthermore, Rest of the World that comprises Latin America and Africa accounted for over 15% of the global market in 2012. The region is expected to witness a significant rise in demand for water soluble fertilizers due to growth potential of agriculture in countries such as Brazil, Argentina and South Africa.

Usage of fertigation and foliar applications in greenhouses, turf and horticulture crops is anticipated to drive demand in North America and Europe. However, the adoption of micro irrigation systems in North America has been slow due to the presence of large farms and less area under irrigation in the region. This has resulted in relatively low growth rate in North America as compared to Asia Pacific.

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Fertigation and foliar are key applications for the water soluble fertilizers market. Fertigation dominated the application market, accounting for more than 70% of the total market in 2012. Higher adoption of water soluble fertilizers is one of the major factors driving demand for fertigation. This, in turn, has increased demand for water soluble fertilizers.

Nitrogen and potassium were the most used types of nutrients in water soluble fertilizer formulations. Together, these accounted for more than 80% of the revenue generated from the overall market in 2012. The phosphate segment generated revenue of USD 294.7 million in 2012 and is projected to grow at a CAGR of 5.6% from 2013 to 2019. The others segment comprises secondary and micronutrients. It includes calcium, sulfur, magnesium, iron, chlorine and manganese.

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Agrium Inc., Yara International, PotashCorp, The Mosaic Company, Haifa Chemicals, ICL Fertilizers, QAFCO, CF Industries, K+S AG, UralChem, SQM and SinoFert are some of the key players in the global water soluble fertilizers market.

The report segments the global water soluble fertilizers market as:

Water Soluble Fertilizers Market: Nutrient Segment Analysis

  • Nitrogen
  • Potassium
  • Phosphate
  • Others (Secondary, micronutrients, etc.)

Water Soluble Fertilizers Market: Application Segment Analysis

  • Fertigation
  • Foliar

Water Soluble Fertilizers Market: Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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