The fertilizers during the production of which a chemical reaction occurs among the components which reacts reciprocally, to produce a homogenous product of uniform composition are called as complex fertilizers. The characteristic of complex fertilizers to meet the precise nutrient requirement of the crops, offers an opportunistic growth to the global complex fertilizers market.
The key factor driving the growth of global complex fertilizers market is the rising awareness regarding soil profile and nutritional balance in the soil. The need to fulfil the food requirement of the fast propagating populace, and filling the fertilizer intensity gaps across regions, are also fueling the market growth. On the other hand, the recent drift towards organic farming and consumer’s inclination towards organic products might act as major hurdles in the growth of the market. The adulteration of complex fertilizers during their manufacturing is yet another factor hampering the quality and market growth of complex fertilizers. However, innovations and adoption of advanced agricultural techniques is expected to create huge opportunities for the market growth in the upcoming years.
The global complex fertilizers market is segmented on the basis of type, form, crop type, and geography. By type, the market is segmented into incomplete and complete complex fertilizers. On the basis of form, the market can be segmented into granular complex fertilizers and liquid complex fertilizers. The granular form is likely to govern the market as it is economically feasible for being used for low-cost crops and small agricultural land holdings. By crop type, the market is segmented into cereals, oilseeds, fruits & vegetables, and others. According to International Fertilizer Association, cereal production accounts for about 50% of world fertilizer use, thus, offering lucrative opportunities in the cereals segment. Geography wise, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the world. In terms of region, Asia-Pacific is the largest market for complex fertilizers, owing to the increasing food requirement, and organized supply chain. As per the data revealed by FAI, in 2015-16, India consumed 88,21,000 tonnes of total complex fertilizers (other than DAP/MAP), of which 83,79,000 tonnes was manufactured within the country and the rest was imported.
Some reputed players in the market are CF Industries Holdings Inc., Yara International ASA, The Mosaic Company, Agrium Inc., Potash Corporation of Saskatchewan, EuroChem Group AG, Coromandel International Limited, PhosAgro, Haifa Chemicals Ltd, and Helena Chemical Company. In September 2017, Europe's largest phosphate-based fertilizer manufacturer, PhosAgro-Cherepovets (a subsidiary of PhosAgro), successfully passed the certification audit by SGS, the world leader in inspection, verification, testing and certification, to meet the ""Protect and Sustain"" requirements of the International Fertilizer Association.
GLOBAL COMPLEX FERTILIZERS MARKET SEGMENTATION
• Incomplete complex fertilizers
o Monoammonium phosphate (11-52-0)
o Mono potassium phosphate (0-52-34)
o Potassium nitrate (13-0-45)
o Diammonium phosphate (18-46-0)
o Others (nitro phosphate and urea phosphate)
• Complete complex fertilizers
o NPK (10-26-26)
o Others (16-16-16, 17-17-17)
• Granular complex fertilizers
• Liquid complex fertilizers
By Crop type
• Fruits & vegetables
• North America
o Rest of Europe
o Rest of Asia-Pacific
• Rest of the World
o Latin America
o Middle East
o South Africa
o Rest of RoW
KEY MARKET PLAYERS
• CF Industries Holdings Inc.
• Yara International ASA
• The Mosaic Company
• Agrium Inc.
• Potash Corporation of Saskatchewan
• EuroChem Group AG
• Coromandel International Limited
• Haifa Chemicals Ltd
• Helena Chemical Company