04-Mar-2021 | Zion Market Research
As per the analysts at Zion Market Research, the global specialty fertilizers market was valued at around USD 16.99 billion in 2018 and is anticipated to expand at about 6.5% CAGR during the forecast period, to attain around USD 51.89 billion by 2025. The major players active in the global specialty fertilizers market consist of Yara International ASA, Nutrien, Ltd., K+S Aktiengesellschaft, Israel Chemical Ltd., The Mosaic Company, EuroChem Group, and Sociedad Química y Minera de Chile (SQM). These market contenders are concentrating on fortifying their existence through investments & expansions, M&As, joint ventures, agreements, and partnerships. To cite, Australia-located Ruralco Holdings Limited (Ruralco) was acquired by Nutrien, Ltd. in September 2019. Nutrien, with this acquisition, would be capable of offering noteworthy benefits to its shareholders, apart from improving the delivery of its services and products to the Australian farmers. The growth of the global specialty fertilizers market can be attributed to factors such as the rising global part under precision farming, requirement for development of fertilizer use efficiency, the rising commonness of fertilizer leaching, suitable government regulations. Nevertheless, the dearth of reasonably priced product alternatives for farmers and the sluggish rate of R&D are factors expected to hamper the market growth during the coming period.
UAN (Urea-Ammonium Nitrate) Segment, By Type, Expected To Register Highest Growth
UAN is deemed to be an exceptional irrigation fertilizer for irrigated plant cultivation and cereal production. usually, it is utilized prior to field plowing, which assists in improving its breaking down. Urea ammonium nitrate solutions are extensively utilized as a means of nitrogen for providing nutrition to plants. UAN, in blend with plant protective agents, is added to irrigation water for cultivation of irrigated plants. Fluid fertilizers are mixed together to fulfill the particular requirements of a crop. Its benefit is that it holds both slow (amide nitrogen & ammonium nitrogen) and fast (nitrate-nitrogen) constituents, just as urea and ammonium nitrate.
North America Projected To Rule The Global Market During The Forecast Period
The global specialty fertilizers market is expected to be dominated by North American, with the US being its most rapidly flourishing market in the region. The elevated price of specialty fertilizers compared to other nitrogenous fertilizers has always limited their use in extensive production of commodity crops, like sorghum, corn, canola, and wheat. Nevertheless, they are usually utilized in high-value, specialty crops, like orchards, vegetables, seed production, nurseries, and so on. At present, their usage is restricted but is escalating in row crops, mainly as a result of higher grain costs, regulations, and environmental concerns.
Browse the full “Specialty Fertilizers Market - By Application Method (Foliar, Fertigation, And Soil), By Type (CAN, UAN, Potassium Sulfate, Potassium Nitrate, And MAP), By Crop Type (Cereals & Grains, Turf & Ornamentals, Oilseeds & Pulses, Fruits & Vegetables, And Others), By Form (Liquid And Dry), By Technology (N-Stabilizers, Slow-Release, Chelated, And Coated & Encapsulated), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/speciality-fertilizer-market
The global specialty fertilizers market is segmented as follows:
By Crop Type
By Application Method
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