The GMI Research anticipates that the Liquid Fertilizers Market will witness an extension in demand over the forecast period. This is because of the mounting opportunities to optimize crop productivity and reduce environmental pollution by balanced dose of water and fertilizer.
Introduction of the Liquid Fertilizers Market
Liquid fertilizer refers to an inorganic compound derived from organic or artificial sources, which helps to elevate the nutritional effectiveness of the plant. It includes primary compounds such as urea-ammonium, calcium ammonium, potassium nitrate, monoammonium phosphate, and diammonium phosphate, to elevate crop production.
Key Players of Market:
- Israel Chemical Ltd.
- Yara International ASA
- K+S Aktiengesellschaft
- Sociedad Química Y Minera De Chile (SQM)
- The Mosaic Company
- Nutrien Ltd.
- Eurochem Group
- CF Industries Holdings, Inc.
- OCI Nitrogen
- OCP Group
Liquid Fertilizers Market Dynamics
The factors influencing the growth of the global liquid fertilizers market include the aggravating acquisition of fortified agriculture and precision farming method among farmers, user-friendly application of liquid fertilizers, and the increasing apprehension to secure and regulate environment-friendly farming practices by farmers will further supplement the market growth.
Also, the surging demand for high yield fertilizers and the increasing endorsement of greenhouse vegetable production across a viable environment, and the up-gradation of several liquid fertilizers such as phosphorus, potassium, and nitrogen across the world has supplemented the market growth. However, the inflated maintenance cost and inadequate knowledge about the application procedure of liquid fertilizers are likely to restrain the market growth.
Type Segment Drivers
The nitrogen segment is contemplated to seize the largest market share over the coming years. This is due to the mounting demand for nitrogen liquid fertilizers to control macro and microelements needs for the growth of the plant in farming practices. Additionally, the extensive consumption of nitrogen nutrients over other types of liquid fertilizers required for plant growth is further driving the market growth.
Major Compound Segment Drivers
Depending on the major compound segment, the calcium ammonium nitrate is predicted to bolster at a higher rate over the forecast period. This is attributed to its exclusive features, such as easy diffusion in highly nourished content. Moreover, CAN possess magnesium and calcium that help to minimize nitrogen losses and improve effectiveness. Thus, all these factors together have bolstered the market growth.
Geographical Drivers
On the basis of regional analysis, the Asia-Pacific region will dominate the market over the coming years. The growing need to use superior quality agricultural products by growers in farming practices is the foremost factor stimulating the market growth. The Asian countries account to be the largest producer of rice, grains, cereals, and fruits & vegetables with extensive consumption of rice. Furthermore, the exacerbated application of nitrogenous fertilizers per hectare for transitory and perpetual crops in countries such as Korea, China, Vietnam, and Japan, will strengthen the market growth.
Liquid Fertilizers Market Segmentation:
Segmentation by Type
- Nitrogen
- Phosphorus
- Potassium
- Micronutrients
Segmentation by Major Compound
- Calcium Ammonium Nitrate (CAN)
- Urea-Ammonium Nitrate (UAN)
- Potassium Nitrate
- Diammonium Phosphate (DAP)
- Monoammonium Phosphate (MAP)
- Others
Segmentation by Crop Type
- Cereals & Grains
- Corn
- Wheat
- Rice
- Others
- Oilseeds & Pulses
- Soybean
- Others
- Fruits & Vegetables
- Others
Segmentation by Mode of Application
- Soil
- Foliar
- Fertigation
- Agricultural Fields
- Hydroponics
- Others
Segmentation by Region:
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- RoW
- UAE
- Brazil
- South Africa
- Saudi Arabia
About GMI Research
A market research and consulting organization, GMI, provides insights and research reports to various enterprises. The detailed reports serve as a helping hand for clients to formulate viable business policies and achieve long term growth. The team of analysts and industry experts provides solution including a forecast, drivers, and market restraints to comprehend them with the challenges.