The complex fertilizers market is projected to reach a value of USD 54.32 billion by 2022. Advanced farming technologies ensure safe and reliable application of complex fertilizers, which improves plant health and minimizes nutrient deficiency in crops.
Increasing investments by key players in partnerships and agreements for expansion of new markets in complex fertilizers, along with the increased expenditure on innovating new and cost-effective production processes of complex fertilizers is expected to change the business landscape in the next five years.
Based on crop type, the oilseeds segment is projected to grow at the highest growth rate in the global complex fertilizers market from 2017 to 2022. This high growth of the oilseeds segment is attributed to increasing in the production of nutritive food as awareness about the advantages of nutritional food is increasing around the globe, which in turn is projected to drive the demand for oilseed products.
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Solid complex fertilizers on the basis of Form were the most widely used, these fertilizers provide greater stability and are easy to use. Key industrial players are expanding their operations in emerging markets to increase their geographical presence and customer base.
South America is the fastest-growing region in the complex fertilizers market
Due to the increase in demand for food products and the availability of arable land and the expansion of farmlands, especially in Brazil, Argentina, and Chile, ensuring the growth of this market in the region. South American countries are shifting toward technological advancements in agriculture, which in turn drives the market for complex fertilizers. The Chinese market for complex fertilizers accounted for the largest share of the Asian-Pacific market in 2016.
The key players in this market have been developing a range of innovative products to target specific needs of the end users of complex fertilizers. They continue to expand and invest to increase their market share across different countries. To enhance & strengthen their geographical reach, these players also adopted acquisitions, expansions, new product launches, and agreements with leading & other local companies. The key players in the market include Yara International ASA (Norway), Agrium Inc. (Canada), Coromandel International Limited (India), CF Industries Holdings, Inc. (U.S.), PhosAgro (Russia), and Potash Corp. of Saskatchewan Inc. (Canada).
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