According to Publisher, the global water soluble fertilizers market is estimated to be $12.24 billion in 2015 and is expected to reach $19.42 billion by 2022, growing at a CAGR of 6.8%. Increasing demand for food with rising population, high efficiency when compared to chemical fertilizers, growing demand for micro-irrigation systems, inadequate availability of arable land, government subsidies and rapidly growing greenhouse vegetable production are the factors anticipated to drive the water soluble fertilizers market. Some of the major restraints of the market include increasing demand for organic fertilizers, lack of awareness and high costs. Wide acceptance of water soluble fertilizers in emerging regions acts as opportunity for the water soluble fertilizers market.
Water soluble fertilizers market is likely to witness increasing consumption from the horticultural crops and ornamentals crops. With maximum consumption, nitrogen water soluble fertilizers segment is the fastest growing fertilizer. Fertigation dominated application segment. Asia Pacific leads the market globally with the largest market share and is expected to grow with a high CAGR among the other regions. The growth is attributed to concerns related to depleting ground water resources, increasing R&D activities and new product developments in emerging regions such as China and India. China is the leading and the fastest growing country across the globe in terms of consumption and value.
Some of the key players in the global market include K+S AG, Yara International ASA, Coromandel International Ltd., The Mosaic Company, Everris International B.V., WengFu Co. Ltd., Israel Chemical Ltd, Sociedad Quimica Y Minera SA (SQM), Qatar Fertilizer, Haifa Chemicals Ltd., Agrium Inc, Hebei Monband water Soluble Fertilizer Co. Ltd., Sinochem Fertilizer Co. Ltd., Compo GmbH & Co. KG and Master Plant-Prod Inc.
Types of Crop Covered:
-Turf & Ornamentals
-Vegetable & Flower Crops
Types of Fertilizers Covered:
-Acidulated Monopotassium Phosphate
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End Users Covered:
-Other End Users
-Rest of Europe
-Rest of Asia Pacific
-Rest of the World
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