Complex Fertilizers Market By Type (Incomplete complex fertilizers (Monoammonium phosphate (11-52-0), Mono potassium phosphate (0-52-34), Potassium nitrate (13-0-45), Diammonium phosphate (18-46-0), Others (nitro phosphate and urea phosphate)), Complete complex fertilizers (NPK (10-26-26), NPK (12-32-16), NPK (15-15-15), Others (16-16-16, 17-17-17)), Form (Granular complex fertilizers, Liquid complex fertilizers), Crop type (Cereals, Oilseeds, Fruits &vegetables, Others)),Industry Analysis, COVI

The global Complex Fertilizers market size is estimated at 51.31 billion USD with a CAGR of 3.85% during the forecasted period from 2021-2028. Complex fertilizers comprise all three (K, P & N) primary plant nutrients of which two primary nutrients are in chemical combination. They are manufactured using chemical reaction process. The key factor driving the growth of Complex Fertilizers market is attributed to ever increasing population along with high crop demand. The outstanding advantages achieved by these fertilizers as compared to other fertilizers are positively influencing this market. Complex fertilizers retain superior physical as well as chemical properties. Besides, the high nutritional value of complex fertilizers is increasing its demand over the forecast period. Moreover, increasing demand for nutrient specific fertilizers along with growing biofuel need which would result in high crop yield is considerably boosting the market. In addition, a shift of traditional farming technologies towards high-tech innovations are expected to fuel the market growth. Furthermore, a rise in greenhouse practice coupled with infertile land is projected to accelerate growth opportunities that will augment this market. On the hand, major use of organic fertilizers and low farm revenues may pose a threat to the growth of Complex Fertilizers market. Also, variable prices of raw materials can limit the market growth.

Market Determinants

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.

GLOBAL COMPLEX FERTILIZERS MARKET SEGMENTATION

By Type • 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 NPK.(12-32-16) o NPK.(15-15-15) o Others (16-16-16, 17-17-17) By Form • Granular complex fertilizers • Liquid complex fertilizers By Crop type • Cereals • Oilseeds • Fruits & vegetables • Others By Geography • North America o U.S. o Canada o Mexico • Europe o Germany o France o Poland o Spain o Rest of Europe • Asia-Pacific o China o Japan o India o Australia o Rest of Asia-Pacific • Rest of the World o Latin America o Middle East o South Africa o Rest of RoW