Specialty Fertilizers Market Overview:
The market of Specialty fertilizers witnessing robust growth due to increased demand over food products and agricultural products in populated countries. Specialty fertilizers are used in crops to produce good yield of crops as well as profits. The market is fragmented by different types, colors, forms, applying methods, applications and end users of Specialty fertilizers. Specialty Fertilizers usually constitute Nitrogen fertilizers, potassium fertilizers, Phosphorus Fertilizers and their combinations. The market of nitrogen and Phosphorus fertilizers has growing demand in the specialty fertilizers market.
Specialty Fertilizers Market Outlook:
The Specialty Fertilizers are used for agriculture, horticulture and non -farm use, hydroponic and so on. In hydroponic system, the specialty fertilizers are used for different crops like broccoli, turnip greens and so on. In the market, the specialty fertilizers produced by different companies are maintaining free of harmful chemicals and heavy metals and safe to the environment. As Specialty fertilizers are expensive, the researchers are finding alternatives to reduce cost.
Specialty Fertilizers Market Growth Drivers:
The specialty fertilizers has ability to increase the plant health and productivity which finally leads to good yield of the crop, quality of the production. These became driving forces in this market. Another driving force is action of specialty fertilizers that varies from crop to crop. Few fertilizer products offer some percent of action in one week and rest in other weeks. This became advantage in few seasonal growing crops. The increase in population and demand over agricultural productivity also drives the specialty fertilizers to yield more productivity that benefits all people.
Specialty Fertilizers Market challenges:
Insufficient Land area and more yield of crop per acre are the two challenges facing by farmers in this market. The fertilizers cost and improper usage of NPK (Nitrogen, Phosphorus, Potash) in the crops are the challenges observed in this market. The improper use of NPK effects the yield of the crop. The research shows, more use of NPK, lowers the crop yield and vice versa.. Most of the farmers are unaware about the presence of different types of specialty fertilizers. Creating awareness to different end users became challenge in this market.
Specialty Fertilizers Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Specialty Fertilizers. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Specialty Fertilizers Market, and their specific applications in different types of vehicles.
Specialty Fertilizers Market Report: Industry Coverage:
Types of Specialty Fertilizers Market: Dry fertilizers, Liquid and Gas fertilizers, Urea, UAN, others
Target crop of Specialty Fertilizers Market: Oilseeds, vegetables, fruits, Crash crops, others
Form of Specialty Fertilizers Market: Granular, Powder, Liquid, Formulated Granular, Coatings, Crystalline
Applications method of Specialty Fertilizers Market: Banded, Surface applied
End Users of Specialty Fertilizers Market: Horticulture, Agriculture, Hydroponics, Nonfarm Use
Specialty Fertilizers Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Specialty Fertilizers Market Key Players:
The key players referred in this market are Coromandel International Limited, Tata chemicals Ltd, Eurochem, Koch Industries Inc, Yara International, Agrium, Soiltech, The Andersons and few more companies.
Specialty Fertilizers Market Trends and Market Research:
- On November 2016, Potash Corporation and Agrium companies merged together in fertilizers industry and named new company as Nutrien. This Nutrien Company is expected to reach $36 billion and became second largest producers of Nitrogen fertilizers.
- Hydroponic is one of the method or system of producing green leafy vegetables in both commercial and residential applications. The researchers are finding how much concentration (rate) of specialty fertilizers should be used on Hydroponic system.
- As specialty fertilizers vary from commodity fertilizers, the makers of this market nowadays are understanding hidden costs, contenders and planning to build the item portfolio to amplify their edges.