Fertilizers containing two or more of the primary nutrients nitrogen (N), phosphorous (P), and potash (K) in suitable composition are known as complex fertilizers or compound fertilizers. Complex fertilizers containing two primary nutrients are known as incomplete fertilizers whereas those containing all three primary nutrients are known as complete complex fertilizers.
The global complex fertilizers market is expected to grow at an impressive rate during the forecast period owing to the chemical and physical properties of complex fertilizers that favor plant growth and help in obtaining a high yield. Surging global demand for food and biofuel is boosting the production of agricultural commodities, which, in turn, is fuelling the market growth for complex fertilizers. Additionally, increasing production in greenhouses and polyhouses across the globe is catalyzing the sale of complex fertilizers in the global market. However, the major determinants hampering the growth of the global complex fertilizers market are the fluctuating agriculture commodity prices, reducing rural population, decreased farm income, and growing organic fertilizer industry.
The global complex fertilizers market has been segmented based on type, crop type, form, mode of application, and region.
By type, the global complex fertilizers market has been classified as complete complex fertilizers and incomplete complex fertilizers. The complete complex fertilizers segment has been further segregated into N-P-K (10-26-26), N-P-K (12-32-16), N-P-K (15-15-15), and others. The incomplete complex fertilizers segment has been further categorized as monoammonium phosphate (11-52-0), monopotassium phosphate (0-52-34), potassium nitrate (13-0-45), diammonium phosphate (18-46-0), and others.
Based on crop type, the global complex fertilizers market has been classified as cereals, oilseeds and pulses, fruits and vegetables, and others.
The global complex fertilizers market has also been segregated, on the basis of form, into granular and liquid.
By mode of application, the global complex fertilizers market has been divided into foliar and fertigation.
The global complex fertilizers market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American complex fertilizers market has further been segmented into the US, Canada, and Mexico. The European complex fertilizers market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The complex fertilizers market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The complex fertilizers market in the rest of the world has been segmented into South America, the Middle East, and Africa
EuroChem Group AG (Switzerland), Sociedad Química y Minera de Chile (Chile), Potash Corporation of Saskatchewan (Canada), CF Industries Holdings Inc. (US), Zuari Agro Chemicals Ltd (India), PhosAgro (Russia), Agrium Inc. (Canada), Israel Chemicals Limited (Israel), Yara International ASA (Norway), The Mosaic Company (US), Haifa Chemicals Ltd. (Israel), and Helena Chemical Company (US) are some of the key players in the global complex fertilizers market.
Regional Market Summary
Global Complex Fertilizers Market Share (%), by Region, 2018 Source: Secondary Sources and MRFR Analysis
Asia-Pacific is projected to gain the lion’s share of the global complex fertilizers market and register an impressive CAGR during the forecast period. India, China, Indonesia, and Vietnam are among the major markets contributing to regional market growth. Moreover, increasing awareness among farmers regarding the benefits of multi-nutrient fertilizer complexes is also boosting market growth in Asia-Pacific.
Global Complex Fertilizers Market, by Type
Global Complex Fertilizers Market, by Crop Type
Global Complex Fertilizers Market, by Form
Global Complex Fertilizers Market, by Mode of Application
Global Complex Fertilizers Market, by Region
Key Players in the Global Complex Fertilizers Market