The
global water soluble fertilizers market was valued at USD 2.44
billion in 2012 and is expected to reach USD 13.72 billion by 2019,
growing at a CAGR of 5.6% over the forecast period from 2013 to 2019.
The global water soluble fertilizer market volume was 9,433.0 kilo
tons in 2012.
Growth
of fertigation application of water soluble fertilizers aided by the
growing adoption of micro irrigation systems is anticipated to be the
key driver for global water soluble fertilizers market over the next
six years. However, harmful effects of over fertilization, such as
ocean dead zones, ground water contamination and disturbance in
ecological balance, is expected to hinder market growth over the
forecast period.
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Global Water Soluble Fertilizers Market Report with Full TOC at
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Water
soluble fertilizers are mineral fertilizer formulations that are
completely soluble in water. These fertilizers find utility in
fertigation and foliar application which require micro irrigation
systems for dispensing the water soluble formulations of nutrients.
Micro irrigation systems include drip irrigation equipment, micro
sprinklers and sprays among others. Such systems help in better,
controlled dispersion of water soluble fertilizers while being
economical about the amount of fertilizer and water utilized as well
as the energy and labor spent on applying the fertilizers.
Water
soluble fertilizers market in Asia Pacific is expected to grow at a
CAGR of 5.1% given huge demand from China and India. Owing to
increasing adoption rate of micro irrigation systems in the region,
the demand for water soluble fertilizers is expected to be extensive
in the coming years. Moreover, Latin America and Africa constituting
Rest of the World accounts for 16 % of the global market and is
expected to show significant rise in water soluble fertilizer demand
due to the growth potential of agriculture in countries such as
Brazil, Argentina and South Africa among others. Fertigation and
foliar application utility in greenhouses, turf and horticulture
crops for is expected to drive demand in North America as well as
Europe. However, North American market with large farms and less area
under irrigation has shown slow adoption of micro irrigation systems
leading to relatively low growth rate compared to Asia Pacific.
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Fertigation
and foliar are key applications for the water soluble fertilizers
market. Fertigation dominated the application market and accounted
for more than 65% of the total market in 2012. 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.
Nitrogen
and potassium were the most used type of nutrients in water soluble
fertilizer formulations and together accounted for more than 60% of
the revenue generated from the overall market in 2012. Phosphate
segment generated revenue of USD 294.7 million in 2012 and is
projected to grow at a CAGR of 5.6% from 2013 to 2019. Others segment
comprising of secondary and micronutrients, includes calcium,
sulphur, magnesium, iron, chlorine and manganese among others.
Agrium
Inc., Yara International, PotashCorp, The Mosaic Company, Haifa
Chemicals, ICL Fertilizers, QAFCO, CF Industries, K+S AG, Uralchem,
SQM and SinoFert are some of the key players in the global water
soluble fertilizers market.
The
report segments the global water soluble fertilizers market as,
Water
soluble fertilizers Market: Nutrient Segment Analysis,
Nitrogen
Potassium
Phosphate
Others
(Secondary, micro nutrients, etc.)
Water
soluble fertilizers Market: Application Segment Analysis,
Fertigation
Foliar
Water
soluble fertilizers Market: Regional Analysis,
North
America
Europe
Asia
Pacific
Rest
of the World
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