Published on : Jan 04, 2018
Albany, New York, January 4, 2018: Across the world, the demand for specialty fertilizers are increasing, as it offers a number of advantages over conventional fertilizers. This includes higher efficiency, less labor intensive, and provide constant nutrients to plants. Market Research Hub (MRH) has freshly announced the addition of a new report to its wide repository, which analyzes and forecasts the market for specialty fertilizers at the global and regional level. This 476-pages research study is titled as “Specialty Fertilizers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025”, and consists of market size, Y-o-Y growth and CAGR of the specialty fertilizers market during the projected period of 2017-2022. The report deeply covers different sections on market definition, market dynamics comprising the key drivers, restraints and trends that are governing the market.
As per the research key findings, analysts predict the global specialty fertilizers market to clock a modest 5.7% CAGR for the forecast period between 2017 and 2025. Increasing at this pace, the market will be valued at US$14,734.4 mn by 2025 from its value of US$8,987.3 mn in 2016. For a clear understanding, the research study broadly classifies the global specialty fertilizers market into Europe, Latin America, North America, Asia-Pacific and Middle East & Africa. Of them, North America held the dominant share in the overall market in 2016. The region is projected to account for the leading revenue contribution in 2017. One of the prime factors behind this regional growth is the increasing focus on sustainable agriculture coupled with a high degree of environmental awareness due to governmental regulations.
Factors Fueling Market Growth
Specialty fertilizers are mainly granular fertilizer particles that control the amount of moisture contact and help steadily release fertilizer nutrients, usually over a few weeks or a few months. The study provides a decisive view of the global specialty fertilizers market by segmenting it in terms of type, crop type, and compound. These segments have been analyzed based on present and future trends. In terms of type, the segments into which the global specialty fertilizers market is divided are slow-release fertilizers, nitrification and urea inhibitors, controlled release fertilizers, micronutrient fertilizers and others. Of them, the slow release fertilizers segment held the leading market share in 2016 mainly because of ease of convenience and its excellent cost to performance ratio.
In the present time, research initiatives and investments for the introduction of novel specialty fertilizers is also stoking growth of specialty fertilizers market. Rising environmental concerns, decreasing land availability, rising demand for food, increasing health concerns, growing government support are the prime factors behind this market growth.
Another vital section of the report is competitive landscape featuring some of the top companies, their products and business strategies, and their standing in the global market. Key players in the specialty fertilizers market include Sociedad Quimica Y Minera S.A., Yara International ASA, Coromandel International Limited, Inc., The Potash Corporation of Saskatchewan Inc., Israel Chemical Limited, Haifa Chemicals Limited, among others.
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