Major companies in the chemical fertilizers market include Nutrien Ltd. ; Yara International; The Mosaic Company; CF Industries Holdings Inc. and Israel Chemicals Ltd. The global chemical fertilizers market is expected to grow from $127.
New York, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Chemical Fertilizers Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018805/?utm_source=GNW
57 billion in 2020 to $137.99 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $150.64 billion in 2025 at a CAGR of 2%.
The chemical fertilizers market consists of the sales of fertilizers by entities (organizations, sole traders or partnerships) that produce nitrogenous or phosphatic fertilizer materials; produce fertilizers from sewage or animal waste; manufacture nitrogenous or phosphatic materials and mix with other ingredients into fertilizers; and/or mix ingredients made elsewhere into fertilizers. The chemical fertilizers market is segmented into nitrogen fertilizer; phosphate fertilizer and potash fertilizer.
Asia Pacific was the largest region in the global chemical fertilizers market, accounting for 41% of the market in 2020. North America was the second largest region accounting for 18% of the global chemical fertilizers market. Middle East was the smallest region in the global chemical fertilizers market.
Phosphorus is being recovered from sewage, manure and other sources and made available as a fertilizer. Since phosphorus is a finite source, companies are looking for ways to recycle or recapture phosphorus to be used in agriculture. Plant-available phosphorus content is increased through anaerobic digestion and composting and in sludge from sewage through acid treatment and oxidizing. According to research conducted by the Luke Research Agency, Finland, manure and sludge when treated appropriately can provide more phosphorus than traditional inorganic fertilizers.
The fertilizers market is likely to be affected by the rising use of bio-fertilizers due to adverse impact of synthetic fertilizers on soil and other environmental concerns. A bio-fertilizers contains living microorganisms such as bacteria, fungi and algae, which are capable of fixing atmospheric nitrogen or convert soluble phosphate and potash in the soil into forms available to the plants. Bio-fertilizers promotes growth in plants by increasing the supply or availability of primary nutrients to the host plant . The use of bio-fertilizers was further augmented by negative impacts of prolonged use of chemical fertilizers on the soil.
Farmers all around the world are adopting intensive farming techniques to increase productivity per hectare. Intensive farming is an agricultural intensification and mechanization system that aims to maximize yields from available land through various means, such as heavy use of pesticides and chemical fertilizers. These techniques help to meet the rising demand for food of the growing population and help to prevent food shortages. Some intensive farming techniques, such as monoculture, drive the demand for fertilizers. Monoculture is a practice of growing one type of crop intensively over a large area, thus depleting nutrients in the soil and making it heavily dependent on synthetic fertilizers.
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