Water soluble fertilizers are formulations of mineral fertilizers that are completely soluble (solubility - 99.8% and above) in water. These can be sprayed or applied on crops to enhance quality and yield of crops such as cereals, pulses, fruits and vegetables. Crops require a variety of nutrients in adjustable concentrations as per different seasons. This is an advantage of this class of nutrients. It ensures a consistent supply of essential nutrients to crops. Water soluble fertilizers are applied using micro irrigation systems. Key application segments for water soluble fertilizers are fertigation and foliar applications.
The global water soluble fertilizers market is expected to be driven by the growth in fertigation application assisted by rising adoption of micro irrigation systems, especially in well irrigated lands of Asia Pacific. Furthermore, rising demand for higher yields, due to rising world population, reduction in arable land area and high demand for biofuels is anticipated to fuel the market for water soluble fertilizers. However, environmental impacts such as increase in the area under ocean dead zones, ground water contamination leading to several diseases and disturbance in ecological systems due to excessive usage of fertilizers is expected to hinder the growth of global water soluble fertilizers market. Moreover, regulatory bodies are implementing stringent policies to prevent damage to the environment and maintain ecological balance of flora and fauna, especially in water bodies.
Nitrogen emerged as the largest consumed nutrient for water soluble fertilizers accounting for more than 50% of the total water soluble fertilizers formulations consumed in 2012. Potassium based water soluble fertilizers are expected to be the fastest growing market owing to its high solubility and enhanced demand from Asia Pacific. Potassium based water soluble fertilizers market volume is expected to grow at an estimated CAGR of 5.7%, from 2013 to 2019. Phosphate is another major nutrient used in water soluble fertilizer formulations and accounted for around 13% of the global water soluble fertilizers demand in 2012. Others segment include secondary and micro nutrients such as calcium, sulfur, magnesium chlorine and manganese among others.
Fertigation dominated the application market and accounted for more than 65% of the total market in 2012. It is also expected to be the fastest growing application market for water soluble fertilizers at a CAGR of 5% from 2013 to 2019. The growing adoption of water soluble fertilizers is one of the major factors driving the demand for fertigation and further demand for water soluble fertilizers. Foliar application is another key market for water soluble fertilizers aided by technological enhancements and availability of mechanized equipment for dispensing water soluble fertilizers.
Asia Pacific continued dominating the water soluble fertilizers market and accounted for more than 60% of the total volume in 2012. Asia Pacific along with being the largest market is also the fastest growing market for water soluble fertilizers. Asia Pacific was followed by Rest of the World witnessing high growth in emerging economies of Brazil and Argentina in Latin America and South Africa in Africa. Utility in greenhouses, turf and horticulture crops for fertigation and foliar application is expected to drive demand in North America as well as Europe. However, these regions are expected to witness an average growth rate over the next six years owing to slow adoption of micro irrigation systems and limited area under irrigation.
The water soluble fertilizers market is moderately concentrated in nature, with the top four companies accounting for 50% of the share in 2012. Companies such as Yara International, CF Industries, Agrium Inc., PotashCorp and QAFCO are the leading manufacturers of water soluble fertilizers. Other manufacturers include Mosaic Company, Haifa Chemicals, ICL Fertilizers, CF Industries, K+S AG, Uralchem, SQM and SinoFert.
Growing demand from fertigation application supported by increasing adoption of micro irrigation systems is expected to fuel the global demand for water soluble fertilizers. Additionally increasing demand for better yield owing to rising world population, decreasing arable land, and high demand of biofuels is expected to further fuel the demand for water soluble fertilizers. However, harmful environmental impacts of over fertilization, such as contamination of ground water, increase in area under ocean dead zones and disturbances in ecological balances, are expected to hinder market growth of water soluble fertilizers.
Research is conducted methodically including secondary as well as primary inquisition related to the water soluble fertilizer market. Analysis of the water soluble fertilizer market is done on the basis of our review on key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources financial reports, broker reports, investor presentations, SEC filings, and statistical data from government websites, relevant patent and regulatory databases, trade associations and agencies related to the water soluble fertilizer market. Secondary sources referred for the water soluble fertilizers market study include, but are not limited to; The U.S. Department of Agriculture (USDA), Environment Protection Agency (EPA), FAOSTAT, Eurostat and The International Commission on Irrigation and Drainage (ICID) among others.
This report gives a detailed description of the global water soluble fertilizers market based on volume share (kilo tons) and revenue (USD million) for the period 2013 to 2019. In order to manage the scope of the research study on water soluble fertilizers market following assumptions were made; Volume of water soluble fertilizers given in the report describes volume of comprising nutrient(s) in tons or kilo tons. It does not include weight of the whole formulation. Formulations with more than 99.8% solubility in water are considered water soluble fertilizers. Market numbers given in the report describe the demand for water soluble fertilizers and not production or sales. The report highlights the factors contributing towards the growth of the market and the restraints that impede the market. Detailed forecasts for the years 2013-2019 for water soluble fertilizers have been given separately, for better understanding of the market scenario. The water soluble fertilizers market is described with respect to their various segments along with the opportunities that are expected in the coming six years.
For geographic analysis, the global water soluble fertilizers market has been segmented into regions such as North America, Europe, Asia Pacific and Rest of the World. The water soluble fertilizers market has been segmented based on the following nutrient segments used in the formulation of water soluble fertilizers – Nitrogen, Potassium, Phosphate and Others including secondary and micro nutrients such as calcium, sulphur, magnesium, iron and chlorine among others. The study also analyses market attractiveness for all segments of water soluble fertilizers with the help of the market attractiveness tool.
This report on water soluble fertilizers includes only the volumes that are used for fertigation and foliar applications of water soluble fertilizers. The water soluble fertilizer study segments the market on an application basis into Fertigation and Foliar application of water soluble fertilizers, provides forecasts and estimates for each application segment in terms of revenue and volume over the forecast period from 2013 to 2019. This report on water soluble fertilizers includes only the volumes that are used for fertigation and foliar applications of water soluble fertilizers for the stipulated forecast period.
For a more comprehensive view of the market, a value chain analysis and Porter’s five forces model is provided to throw light on the specifics of the industry structure besides giving an overview of the degree of competitiveness. The report also includes detailed profiles of key players such as Agrium Inc., Yara International, PotashCorp, The Mosaic Company, Haifa Chemicals, ICL Fertilizers, QAFCO, CF Industries, K+S AG, Uralchem, SQM and SinoFert among others. The detailed description of players includes parameters such as company overview, financial overview, business strategies and SWOT analysis and recent developments of the company. Company market share has been derived based on revenue generated by the companies for water soluble fertilizer products.
The report segments the global water soluble fertilizers market as,
- Water Soluble Fertilizers Market: Nutrient Segment Analysis,
- Water Soluble Fertilizers Market: Application Segment Analysis,
- Water Soluble Fertilizers Market: Regional Analysis,
- North America
- Asia Pacific
- Rest of the World