Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 21.69 Billion | USD 53.61 Billion | 9.47% | 2024 |
FrequentlyAsked Questions
Chemical fertilizers including urea, diammonium phosphate, and single superphosphate are utilized for maintaining the proportion of nitrogen, phosphorus, and potassium in the soil. The chemical fertilizer is referred to as a synthetic compound manufactured from sewage as well as animal waste and nitrogenous or phosphatic materials apart from other ingredients.
The global chemical fertilizers market is expected to grow due to Increasing food demand and need to boost crop yields drive market growth. Expansion of global agriculture and government subsidies also contribute.
According to a study, the global chemical fertilizers market size was worth around USD 21.69 Billion in 2024 and is expected to reach USD 53.61 Billion by 2034.
The global chemical fertilizers market is expected to grow at a CAGR of 9.47% during the forecast period.
Asia-Pacific is expected to dominate the chemical fertilizers market over the forecast period.
Leading players in the global chemical fertilizers market include Syngenta AG, ARA International, Uralkali, Nutrien Ltd., The Mosaic Company, K+S Aktiengesellschaft, Haifa Group, ICL Group Ltd., EuroChem Group, OCP Group S.A., and other key players., among others.
The report explores crucial aspects of the chemical fertilizers market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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