The npk fertilizers global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
NPK fertilizers Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
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.
Market Trends –
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 covered in this report is segmented –
1) By Type: Phosphorus, Nitrogen, Potassium, Other Types
2) By Form: Powder, Liquid, Other Forms
3) By Nature: Organic NPK Fertilizers, Synthetic NPK Fertilizers
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Regional Insights –
Asia-Pacific was the largest region in the NPK fertilizer market in 2023, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the npk fertilizers market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the npk fertilizers market include Aditya Birla Chemicals Ltd., Agrium Inc., AkzoNobel N.V., Alltech Biotechnology Pvt Ltd., Borealis AG, Kingenta Ecological Engineering Group Co Ltd., Yara International ASA, Xinyangfeng Agricultural Technology Co Ltd., EuroChem Group AG, China Xinlianxin Fertilizer Co Ltd., BASF SE, Coromandel International Ltd., Fertilizer Engineering & Equipment Company Inc., Potash Corporation Of Saskatchewan Inc., CF Industries Holdings Inc., Trance Resource Inc., K + S Aktiengesellschaft, Mosaic Global Holdings Inc., Hindalco Industries Ltd., Nutrien Ltd., Uralkali PJSC, Sociedad Química y Minera de Chile S.A., Israel Chemicals Ltd., Indian Farmers Fertiliser Co-operative Ltd., Kali und Salz GmbH, OCI Co Ltd., PhosAgro, Sinofert Holdings Ltd., CVR Partners LP
Table of Contents
1. Executive Summary
2. NPK fertilizers Market Report Structure
3. NPK fertilizers Market Trends And Strategies
4. NPK fertilizers Market – Macro Economic Scenario
5. NPK fertilizers Market Size And Growth
…..
27. NPK fertilizers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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