NEW YORK, United States, May 10, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Chemical Fertilizers Market By Macronutrients (Nitrogen Fertilizers, Potash Fertilizers, And Phosphate Fertilizers), By Application (Seed Treatment, Root Dipping, Soil Treatment, And Others), By Product Type (Complex Fertilizers, MOP, Urea, DAP, And SSP), By Crop Category (Cereals, Fruits, Oilseeds, Vegetables, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Chemical Fertilizers Market size & share in terms of revenue was valued at USD 18.1 billion in 2022 and it is expected to surpass around USD 23.1 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 9.1% during the forecast period 2023 to 2030.”
What are Chemical Fertilizers? How big is the Chemical Fertilizers Industry?
Report Overview:
Chemical fertilizers include urea, diammonium phosphate, and single superphosphate. They are utilized for maintaining the level of phosphorus, nitrogen, and potassium in the soil. A chemical fertilizer is a synthetic compound that is produced from either sewage or animal waste and nitrogenous or phosphatic materials apart from other constituents.
A large number of the chemical fertilizers used in farming activities such as NPK fertilizers have huge proportions of nitrogen, phosphorous, and potassium.
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Global Chemical Fertilizers Market: Growth Factors & Restraints
Escalating need for optimizing crop yield and soil productivity through the help of traditional farming activities will embellish the growth of the global chemical fertilizers market. Escalating need for sustainable agricultural activities at lesser costs has enhanced the use of chemical fertilizers in the farming sector. Moreover, the rising population and less availability of cultivable land leading to the use of chemical fertilizers for increasing crop yield has spurred the global market expansion. Apart from this, chemical fertilizers help in increasing the natural productivity of microbes & organisms that benefit the growth of crops. Additionally, organic & chemical fertilizers are used in combination for increasing the rice bran, dried grains, and cottonseeds yield.
Huge costs of raw components and stringent government regulations related to carbon emissions in the atmosphere will impede the expansion of the chemical fertilizers industry across the globe. Moreover, the surging use of natural fertilizers and demand for eco-friendly products will decimate the global industry expansion. However, chemical fertilizers are cost-effective as compared to organic fertilizers and this will generate new growth opportunities for the global chemical fertilizers industry.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 18.1 Billion |
| Projected Market Size in 2030 | USD 23.1 Billion |
| CAGR Growth Rate | 9.1% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | 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. |
| Key Segment | By Macronutrients, Application, Product Type, Crop Category, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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Chemical Fertilizers Market: Segmentation Analysis
The global chemical fertilizers market is sectored into macronutrients, application, product type, crop category, and region.
The product type segment of the chemical fertilizers market is sub-segmented into DAP, complex fertilizers, urea, SSP, DAP, and MOP segments. Furthermore, the urea segment, which accounted for the highest share of the global market in 2022, is predicted to register the highest CAGR of 4.5% during the forecast timespan. The segmental expansion over 2023-2030 can be owing to the extensive use of urea in farming as animal feed and fertilizer. Furthermore, urea provides plants with nitrogen for promoting the growth of green leafy plants. It also helps in the photosynthesis of plants.
On the basis of crop category, the chemical fertilizers industry across the globe is divided into fruits, cereals, vegetables, oilseeds, and others. Moreover, the cereals segment, which dominated the crop category segment in 2022, will continue to do so even in the coming years. The segmental growth over the projected timespan can be attributed to the offering of mineral ions by chemical fertilizers for the healthy growth of cereals. Apart from this, these products contain nutrients helping in enhancing cereal production. Furthermore, chemical fertilizers comprise phosphorous, nitrogen, and potassium which contain nutrients that increase the fertility of soil and cereal yield.
Based on the application, global chemical fertilizers market is divided into soil treatment, seed treatment, root dipping, and others.
In terms of macronutrients, the global chemical fertilizers industry is sectored into potash fertilizers, nitrogen fertilizers, and phosphate fertilizers segments
The global Chemical Fertilizers market is segmented as follows:
By Macronutrients
- Nitrogen Fertilizers
- Potash Fertilizers
- Phosphate Fertilizers
By Application
- Seed Treatment
- Root Dipping
- Soil Treatment
- Others
By Product Type
- Complex Fertilizers
- MOP
- Urea
- DAP
- SSP
By Crop Category
- Cereals
- Fruits
- Oilseeds
- Vegetables
- Others
Browse the full “Chemical Fertilizers Market By Macronutrients (Nitrogen Fertilizers, Potash Fertilizers, and Phosphate Fertilizers), By Application (Seed Treatment, Root Dipping, Soil Treatment, and Others), By Product Type (Complex Fertilizers, MOP, Urea, DAP, and SSP), By Crop Category (Cereals, Fruits, Oilseeds, Vegetables, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030.” Report at https://www.zionmarketresearch.com/report/chemical-fertilizers-market
Competitive Landscape
Some of the main competitors dominating 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.
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Chemical Fertilizers market is likely to expand at a CAGR of around 9.1% during the forecast period (2023-2030).
- In terms of revenue, the Chemical Fertilizers market size was valued at around US$ 18.1 billion in 2022 and is projected to reach US$ 23.1 billion by 2030.
- The global chemical fertilizer market is anticipated to record massive growth over the forecast period owing to the surging population and limited availability of arable land has led to the use of chemical fertilizers for enhancing crop yield.
- Based on macronutrients, the nitrogen fertilizers segment is predicted to contribute majorly towards the market growth over the forecast timeline.
- In terms of application, the soil treatment segment to make major contributions towards the global market proceeds over 2023-2030.
- Region-wise, the Latin American chemical fertilizers market is projected to register the highest CAGR during the assessment period.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Chemical Fertilizers industry?
- What are the main driving factors propelling the Chemical Fertilizers Market forward?
- What are the leading companies in the Chemical Fertilizers Industry?
- What segments does the Chemical Fertilizers Market cover?
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Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Macronutrients, Application, Product Type, Crop Category, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
The Asia-Pacific, which accounted for half of the global chemical fertilizer market revenue share in 2022, is slated to lead the regional industry expansion over the forecast timeframe. The regional market expansion over 2023-2030 can be subject to the humungous use of urea in farming activities in the countries such as India and China. In addition to this, the presence of key product manufacturers in the countries such as China and India will expand the scope of the industry growth in the Asia-Pacific zone.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In last quarter of 2022, Deepak Fertilizers & Petrochemicals Corporation, a key India-based manufacturer of fertilizers, industrial & agricultural chemicals, and crop nutrients, announced to have created new soil nutrients for enhancing crop output. The firm aims at expanding the crop nutrient portfolio and the initiative will embellish the expansion of the chemical fertilizers industry in India.
- In the first quarter of 2023, IIT Roorkee, a reputed tech institute based in India, established a center of excellence for research in chemical engineering and petrochemicals. The move will spur the growth of the chemical fertilizers market in India as well as in the Asia-Pacific region.
- In the second quarter of 2023, domestic production of Urea in India is predicted to increase with a fertilizer unit going to be functional by October 2024. For the record, four other fertilizer producing plants are already functional in India. Moreover, the strategic initiative will expedite the chemical fertilizer market surge in India.
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