Chemicals

NPK fertilizers Market Brief Analysis, Market Size, Top Leading Companies, Segmentation | Aditya Birla Chemicals Ltd., Agrium Inc., AkzoNobel N.V., Alltech Biotechnology Pvt Ltd., Borealis AG

The NPK fertilizers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s NPK fertilizers Global Market Report 2024, The npk fertilizers market size has grown strongly in recent years. It will grow from $3.67 billion in 2023 to $3.92 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to agriculture expansion, population growth, soil nutrient depletion, crop intensification, government subsidies.

The npk fertilizers market size is expected to see strong growth in the next few years. It will grow to $5.36 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to climate change, government subsidies, organic agriculture, regulatory changes, mechanization and modern farming. Major trends in the forecast period include precision agriculture, sustainable farming, innovative formulations, urban agriculture, water-saving technologies.

The increasing demand for fertilizers is driving the growth of the NPK fertilizers market. Fertilizers are a substance that contains chemical components that help plants grow and produce more. The demand for fertilizers is constantly increasing, as it has potential to restore chemical elements that previous crops removed from the soil or increase the land’s inherent fertility. NPK fertilizers are the most commonly used source of plant nitrogen nutrition. For instance, in 2022, according to the United Nations Environment Program’s report on “Environmental and health impacts of pesticides and fertilizers and ways of minimizing them,”over the past few decades, pesticide and fertilizer demand, production, and consumption have increased significantly globally. By 2025, combined global sales are anticipated to expand around 4.1%, totaling USD 309 billion. Therefore, the rise in demand for fertilizers is expected to boost the demand for NPK fertilizers during the forecast period.

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The npk fertilizers market covered in this report is segmented –
1) NPK fertilizers Market By Type: Phosphorus, Nitrogen, Potassium, Other Types
2) NPK fertilizers Market By Form: Powder, Liquid, Other Forms
3) NPK fertilizers Market By Nature: Organic NPK Fertilizers, Synthetic NPK Fertilizers

Top Major Players

Aditya Birla Chemicals Ltd.

Agrium Inc.

AkzoNobel N.V.

Alltech Biotechnology Pvt Ltd.

Borealis AG

Technological innovation is a key trend gaining popularity in the NPK fertilizer market. Major market players in NPK fertilizer are developing new products with innovative technologies to meet end-users demands and strengthen their market position. For instance, in September 2021, an India-based fertilizer producer, Coromandel International Ltd launched GroShakti Plus to help the farming community to support enhancing yield and quality. With GroShakti Plus, farmers can benefit from high quality products that provide a perfectly balanced nutrition for their crops. GroShakti Plus has all the 3 major nutrients (NPK), has the highest nutrient content among complex fertilizers, highest Phosphorous content among NPK fertilizers.

The npk fertilizers market report table of contents includes:

1. Executive Summary

2. NPK fertilizers Market Characteristics

3. NPK fertilizers Market Trends And Strategies

4. NPK fertilizers Market – Macro Economic Scenario

5. Global NPK fertilizers Market Size and Growth

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31. Global NPK fertilizers Market Competitive Benchmarking

32. Global NPK fertilizers Market Competitive Dashboard

33. Key Mergers And Acquisitions In The NPK fertilizers Market

34. NPK fertilizers Market Future Outlook and Potential Analysis

35. Appendix