Chemical Fertilizers Market Size & Share, by Macronutrients (Nitrogen Fertilizer, Phosphate Fertilizer, Potash Fertilizer); Product type (Complex Fertilizers, DAP, MOP, Urea, SSP); Crop Category (Cereals, oilseeds, Vegetables, Fruits); Application (Seed Treatment, Soil Treatment, Root Dipping) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 329
  • Published Date: Aug 25, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Chemical Fertilizers Market size is anticipated to reach USD 450 Billion by the end of 2035, growing at a CAGR of 9% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of chemical fertilizer was over USD 160 billion. The market for chemical fertilizers is estimated to expand since there is a growing demand to maximize production and yield with conventional farming practices. The need for chemical fertilizers in the farming sector has been propelled by the enormous desire for cost-effective, sustainable farming practices.

Many governments provide subsidies and incentives to promote agriculture and food production. These policies can stimulate demand for chemical fertilizers among farmers. For instance, the US federal government paid farms USD 28.5 billion in direct agriculture program payments or subsidies in 2021.


Chemical Fertilizers Market
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Chemical Fertilizers Sector: Growth Drivers and Challenges

  • Rising Urbanization – Growing demand for agricultural products across the country and rising disposable income contribute to this trend. Over the next ten years, there will be a 15% increase in global demand for agricultural products.
  • Availability in varied forms – Chemical fertilizers are also used in the form of liquid fertilizers that can be utilized in fertigation, foliar feeding, and other applications.  Liquid fertilizer, on the other hand, reduces nitrogen losses while increasing functionality. Additionally, liquid fertilizers can be administered in a single pass along with other dietary supplements and protection products. Savings in time, fuel, labor, and pollution are the result of this resulting in the growth of the chemical fertilizers market.
  • Surging Population - Global market trends have been influenced by the usage of chemical fertilizers to increase crop output due to the rising global population and the scarcity of arable land. According to reports, chemical fertilizers are utilized to increase the naturally occurring productivity of young-of-year culture organisms that aid in crop growth. Aside from this, the production of rice bran, dried grains, and cottonseeds is increased by using organic fertilizers in conjunction with chemical fertilizers.

Challenges

  • High cost of raw materials - The explosive growth of the global chemical fertilizers business will be slowed down by high raw material costs and rigorous regulatory regulations governing the release of volatile compounds into the atmosphere.
  • Rise in the usage of natural fertilizers and green products.
  • Presence of substitute products in the market

Chemical Fertilizers Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~ 9%

Base Year Market Size (2022)

~ USD 160 Billion

Forecast Year Market Size (2035)

~ USD 450 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Chemical Fertilizers Segmentation

Macronutrients (Nitrogen   Fertilizer, Phosphate Fertilizer, Potash Fertilizer)

The nitrogen fertilizers segment is anticipated to hold 56% share of the global chemical fertilizers market during the forecast period, owing to the quality of the fertilizer to provide reduced spoilage and increased process efficiency to ensure energy is available when and where the plant needs to optimize yield. With roughly 24 million metric tons consumed in 2020, China was the top consumer of nitrogen fertilizer followed by India and the United States, with 20.4 and 12.1 million metric tons respectively.

Product type (Complex Fertilizers, DAP, MOP, Urea, SSP)

Chemical fertilizers market from the urea segment is accounting for the highest revenue share, given the extensive use of urea as animal feed and fertilizers in agriculture. In 2021 the global volume of production of unsaturated urea is estimated to be around 179.8 million tonnes. In addition, Urea contributes to the growth of green leafy plants by providing nitrogen to the plants. It's also helping plant photosynthesis.

Our in-depth analysis of the global chemical fertilizers market includes the following segments:

Macronutrients

  • Nitrogen   Fertilizer
  •  Phosphate Fertilizer
  •  Potash Fertilizer

Product Type

  • Complex Fertilizers
  •  DAP
  • MOP
  •  Urea
  • SSP

Crop Category

  • Cereals
  •  Oilseeds
  • Vegetables
  •  Fruits

Application

  • Seed Treatment
  •  Soil Treatment
  •  Root Dipping

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Chemical Fertilizers Industry - Regional Synopsis

APAC Market Forecast

The chemical fertilizers market in Asia Pacific is projected to hold the largest market share of 35% by the end of 2035, backed by the rising exports of agricultural and processed food products. From April to December 2022, the total export of APEDA products in India scaled from USD 17.5 billion over the same period of the previous fiscal to USD 19.7 billion. Moreover, the increasing farming activities and increasing production of vegetables and cereals in the region contributed to the market's growth.

North American Market Statistics

The chemical fertilizers market in North America is anticipated to grow at a significant rate owing to the region's large cultivation area. About 69.0% and 18.5% of all cropland in, the United States and Canada, respectively produce the most fertilizer in the area. Farmers were able to capitalize on the advantages of fertilizers thanks to current scientific and technological developments in the field.

Research Nester
Chemical Fertilizers Market Size
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Companies Dominating the Chemical Fertilizers Market

top-features-companies
    • Nutrien Ltd
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis

     

    • The Mosaic Company
    • Uralkali
    • Yara International ASA
    • Haifa Negev technologies LTD
    • Israel Chemicals Ltd.
    • EuroChem Group
    • OCP SA
    • Syngenta Crop Protection AG
    • K+S Aktiengesellschaft

In-the-news

In The News

  • Nutrein recently stated intentions to ramp up potash production capability to 18 million tonnes by 2025 and plan for roughly USD 2 billion in additional share repurchases in 2022 to enhance fertilizer production.
  • The Mosaic Company ('Mosaic,' a global manufacturer of advanced crop nutrition products) and Richardson Pioneer, Canada's top agribusiness, recently announced their exclusive multi-year partnership to bring PowerCoat®, a biological fertilizer complements, to Richardson Pioneer crop inputs retail locations across Western Canada. When used with granular fertilizer, PowerCoat maximizes the availability of phosphorus in the soil to plants, improving nutrient usage efficiency. 

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 329
  • Published Date: Aug 25, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Government subsidies, surging population attributing for food production and availability in varied forms are some of the major growth factors for the market.

The market size of Chemical Fertilizers is anticipated to attain a CAGR of 9% over the forecast period, i.e., 2023 – 2035.

The major players in the market are The Mosaic Company, Uralkali, Yara International ASA, Haifa Negev technologies LTD, Israel Chemicals Ltd., EuroChem Group, OCP SA, Syngenta Crop Protection AG, K+S Aktiengesellschaft, Seiwa Fertilizer Ind. Co. and others.

The Nitrogen Fertilizers segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Chemical Fertilizers Market Report Scope
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