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CHEMICALS AND ADVANCED MATERIALS

Enhanced Efficiency Fertilizer (EEF) Market Segmentation By Solubility (Water Soluble EEF and Water Insoluble EEF); By Coating (Coated EEF and Uncoated EEF); By Product (Controlled Release Fertilizers, Slow Release Fertilizers and Stabilized Nitrogen Fertilizers); By Form (Granular, Powder and Liquid) and By Application (Turf, Ornamental Plants & Lawns, Horticulture and Others) – Global Industry Demand Analysis and Opportunity Assessment 2018-2027

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Extensive insights into the Growth of Enhanced Efficiency Fertilizer Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • January 2019: Koch Agronomic Services, LLC announced that the U.S. Environmental Protection Agency has provided federal registration to its next generation active ingredient, Duromide, an ingredient which is also used in the manufacturing of ANVOL stabilizer.

  • February 2019:Hafia Group announced that it has opened a new trading company in China which is aimed to expand the offering of the company in the developing agricultural sector in China.

Market Overview

Fertilizers aid in the improvement of overall plant growth and yield. They compose of a wide array of macro and micro-nutrients, which significantly improves the quality and quantity of the crops. The global enhanced efficiency fertilizer (EEF) market is thriving on the back of the increasing applications of fertilizers in the agricultural field, backed by the growing demand to produce food in sufficient quantity. Additionally, increasing government initiatives to boost the agriculture sector, launch of new, advanced and cost-effective fertilizer products, and the increase in research and development activities in the agrochemicals industry are some of the factors anticipated to promote towards the growth of the global enhanced efficiency fertilizer (EEF) market in the coming years.

The global enhanced efficiency fertilizer (EEF) market reached a value of USD 2345.60 million in the year 2019 and is expected to garner a value of USD 3802.05 million by the end of 2028by registering a CAGR of 6.11% across the globe over the forecast period 2020-2028. Additionally, the worldwide market ofenhanced efficiency fertilizer (EEF) is also anticipated to gain an incremental $ opportunity of USD 72.95 million in the year 2020 as compared to the previous year. The market is also expected to grow by 1.6x and achieve an absolute $ opportunity of USD 1383.5 million during the forecast period.

Growth Highlights based on Region during 2019-2028

The global enhanced efficiency fertilizer (EEF) market is segmented by regions into North America, Latin America, Europe, Asia Pacific,Turkey &Middle East and Africa. Among these regions, the market inAsia Pacific held the largest market share of 47.12% in the year 2019 and is expected to grow with the largest CAGR of 6.70% during the forecast period. The market in the region is further expected to garner an incremental $ opportunity of USD 40.9 million in the year 2020 as compared to the previous year. Additionally, the Asia Pacific enhanced efficiency fertilizer (EEF) market is also anticipated to gain an absolute $ opportunity of USD 737.77 million during the forecast period. The market in the region is contributed majorly by the regions such as China, India, Japan, Australia and Southeast Asian Countries owing to the growing agricultural sector and the increasing demand for food.According to the statistics by the World Bank, fertilizer consumption in China increased from 135.76 kg/hectare of arable land in the year 2011 to 140.55 kg/hectare of arable land in the year 2016. CLICK TO DOWNLOAD SAMPLE REPORT

Enhanced Efficiency Fertilizer (EEF) Market Share

The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Market Segmentation Synopsis

By Product

The global enhanced efficiency fertilizer (EEF) market has been segmented by product into controlled release fertilizers, slow release fertilizers and stabilized nitrogen fertilizers. Among these segments, the controlled release fertilizers segment held the largest market share. Controlled release fertilizer is an encapsulated fertilizer wherein the mode of nutrient release is relatively different from the conventional type of fertilizers. In addition, the uptake of the nutrients from the fertilizer is also delayed providing the nutrients to the plant for a longer period. In the last decade, control release fertilizers have become increasingly popular owing to their potential to mitigate N₂O emissions generated from the agricultural lands during the nitrification and denitrification processes. The segment reached a value of USD 286.25 million in the year 2019 in theNorth America enhanced efficiency fertilizer (EEF) market. On the other hand, the segment in the North America enhanced efficiency fertilizer (EEF) market, also held the largest market share of 48.39% in the year 2019.

North America Enhanced Efficiency Fertilizer (EEF) Market

Market Drivers and Challenges

Growth Indicators

Growing Agriculture Industry and Increasing Government Initiatives

Rising global demand for food has led the farmers across the globe to adopt numerous agricultural fertilizers such as controlled release fertilizers, slow release fertilizers and other to increase the productivity of the farmland. Farmers are increasingly adopting advanced farming methods and technologies to enhance their crop productivity which significantly increases the demand for enhanced efficiency fertilizers, which in turn is anticipated to influence the growth of the market. Additionally, government of developing and developed countries across the globe are taking numerous initiatives to implement several programs to boost the agricultural sector. Increasing agricultural investments, provision of subsidies to farmers and the increasing food security concerns in the underdeveloped countries are some of the additional factors anticipated to drive the growth of the global enhanced efficiency fertilizer (EEF) market.

Increasing Demand for High Value Fertilizers

According to the statistics by the Food and Agricultural Organization (FAO), the global demand for the use of fertilizer nutrient including nitrogen, phosphate and potash, increased from 190850 thousand tonnes in the year 2017 to 198107 thousand tonnes in the year 2019.

Demand For the Use of Fertilizer Nutrient

The demand for enhanced efficiency fertilizers is increasing significantly on account of the increasing agricultural production while using these fertilizers. Enhanced efficiency fertilizer can reduce nutrient loss to the environment while increasing the availability of nutrient for the crop near the roots. Enhanced efficiency fertilizer is highly effective in seasons where nutrient loss from the soil is high owing to factors such as high rainfall, light soil texture and low soil organic matter. Enhanced efficiency fertilizer also is known to benefit the environment by reducing greenhouse gas emissions and water contamination even when yields are not significantly improved.

Barriers

High Costs of Enhanced Efficiency Fertilizers

Enhanced efficiency fertilizers are known to provide additional value to farmers, but the availability of low-priced alternatives is anticipated to restrict the farmer to adopt these fertilizers. The price of these fertilizers is high primarily due to the type of technology used in the manufacturing process. Moreover, increasing farming tax and interest rates, which severely hampers the purchasing capability of the farmers for advanced agrochemicals, such as enhanced efficiency fertilizers, is also anticipated to restrict towards the growth of the global enhanced efficiency fertilizer (EEF) market during the forecast period.

Competitive Landscape

Some of the affluent industry leaders in the global enhanced efficiency fertilizer (EEF) market are Koch Agronomic Services, LLC, Haifa Group, Ekompany International B.V., Israel Chemicals Ltd. (ICL), Saviolife S.r.l., Yara International ASA, Nutrien Ltd., Helena Agri-Enterprises LLC, AgroLiquid and DeltaChem GmbH.

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