FERTILIZER MIXTURES MARKET ANALYSIS

Fertilizers are either organic or non-organic material that is in granular form or in liquid form and are used to stimulate growth of plants/crops. Three main ingredients in the fertilizers support growth of crops are nitrogen (N), potassium (K), and phosphorous (P). In fertilizer mixtures, one or two fertilizers are mixed together, which contain major elements such as K₂O, N, and P₂O₅. They are also called mixed fertilizers. Fertilizer mixtures are classified as closed formula fertilizer mixture and open formula fertilizer mixture. Some fertilizer mixture also includes nitrate, phosphate, and diammonium hydrogen orthophosphate in it. Such fertilizers find applications in various crops including cotton, sugarcane, vegetables, fruits, and oilseeds.

Market Outlook

Global fertilizer mixtures market size is expected to witness significant growth over the forecast period (2019-2027), owing to increasing demand for food across the globe. Changing eating habits, increasing population, and growing health concern is expected to boost the demand for food, subsequently driving the market growth. Furthermore, farmers are looking to provide valuable nutrients to crops, essential for their growth and yield. In fact, fertilizers mixtures help to reduce the residual acidity of plants and enhance the crop yield, which is increasing the demand for fertilizer mixtures. Moreover, fertilizer mixtures are better for application as they have a better physical condition.

However, higher cost of fertilizer mixtures as compared to straight fertilizers is expected to hinder the global fertilizer mixtures market growth. Moreover, fertilizer mixtures are not useful if crop is required only one nutrient, which is negatively affecting the market growth.   

Market Taxonomy

On the basis of product type, the global fertilizer mixtures market has been segmented as:

• Phosphorus fertilizer mixture
• Potassium and phosphorus mixtures
• Nitrogen fertilizer mixtures
• Others (diammonium hydrogen orthophosphate, nitrate and phosphate fertilizer mixtures etc.)

On the basis of formula type, the global fertilizer mixtures market has been segmented as:

• Open formula
• Closed formula

On the basis of application, the global fertilizer mixtures market has been segmented as:

• Soil Quality
• Crop Production

Market Regional Analysis

Asia Pacific holds significant market share and is expected to witness significant growth in the global fertilizer mixtures market during the forecast period. This is owing to increasing demand for fertilizer mixtures from emerging economies such as India and China. Moreover, growing awareness among farmers about fertilizer mixtures, increasing government initiatives such as subsidies and tax exemption in countries such as Singapore, India, and China is expected to boost the Asia Pacific fertilizer mixtures market. Moreover, countries in the regions such as South America, Middle East, and Africa have shown significant industrial and economic growth in the recent past. Furthermore, the U.S. and European Countries have shown rapid growth, recovering from economic crisis in the recent past, eventually driving the market growth. Rising population in emerging economies such as Brazil, China, and India coupled with increasing disposable increasing purchasing parity and growing disposable income is expected to boost the market in near future.

Market Players

Some of the key players operating in global fertilizer mixtures market include Agrocan Corporation, Bicco Agro Products, Shiva Global Agro Industries Ltd, China BlueChemical Limited, Fertivale fertilizantes vale do Tiete ltda, Yara International ASA, Agrium, Inc., Hubei Yihua Chemical Industry Co., Anhui Liuguo Chemical Co., Ltd., Chambal Fertilisers and Chemicals Limited, EuroChem Agro GmbH, and Ballance Agri-Nutrients Ltd.

Key developments:

• In August 2019, Yara and Nel confirm their shared ambition of developing clean hydrogen which would allow Yara to realize low carbon footprint fertilizer production. The project is based on Nel’s development of new water electrolyzer technology that will be tested at Yara’s existing plant in Porsgrunn, Norway.
• In December 2018, CNOOC Chemical Co., Ltd. Nian fertilizer marketing summit was successfully held in Tianjin. The company actively leads the new trend of industry transformation and promotes product upgrades.
• In June 2018, CNOOC Offshore Oil Rich Island Banana Simplified Fertilization Cultivation Method Receives Patent. The invention simplifies the traditional fertilization method for banana planting, reducing the number of fertilization from 15-20 times to 5 times, saving labor cost of more than 300 yuan per mu, and increasing the banana yield.