LONDON, Oct. 3, 2022 /PRNewswire/ -- Global Water-Soluble Fertilizers Market size accounted for USD 16.95 Billion in 2021 and is estimated to be USD 26.70 Billion by 2028 and is anticipated to register a CAGR of 6.7%. Increasing awareness among farmers regarding these kinds of products, rising advancements in the agricultural industry, and growing concern regarding soil fertility management are some of the major factors driving the growth of the Global Water-Soluble Fertilizer Market.
Water-Soluble Fertilizers Market Scope
Water-soluble fertilizers (WSF) are fertilizers that can easily dissolve in the soil. Various fertilizers and fertilization techniques have become significant solutions to the ever-increasing demand for agricultural products. Modern agriculture must supply products at optimum rates throughout the growing cycle as efficiently as possible while maintaining water resources and soil degradation. Water-soluble fertilizers are of various types such as phosphatic, nitrogen, potassic, and micronutrients. Due to their nutritional properties, they also find use in foliar operations. By crop type, WSF can be segmented into plantations, cereals, horticulture, vegetables, greenhouse crops, turf, and ornamentals. With WSF, essential nutrients can be applied evenly throughout the plant on a daily basis. It also helps to reduce the number of salts in the soil.
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Water-Soluble Fertilizers Market: Competitive Analysis
The industry is going to see the nitrogenous based segment which is going to generate a high-level demand in the coming years. The major companies in the market are companies such as Yara International ASA, Nutrien Ltd., Haifa Group, Israel Chemical Ltd (ICL), The Mosaic Company, K+S Aktiengesellschaft, VAKI - CHIM Ltd., and Coromandel International Limited. The companies here are going to develop with the innovation it is going to see in the coming years. Agilent Technologies, Inc.
This Report is also Focusing on Below Players:
- Agrium Inc.
- Lowa Fertilizer
- Sociedad Química Y Minera De Chile (SQM)
- Hebei Monband Water Soluble Fertilizer Co. Ltd.
- CF Industries Holdings Inc.
- Others
Water-Soluble Fertilizers Market: Segmentation Analysis
The water-soluble fertilizers market from the liquid water-soluble segment is going to grow considerably in the coming years. The liquid water-soluble fertilizers have been gaining significant popularity in the recent years due to the mode of the applications which is the fertilizers may be foliar applied or the ground applied through the fertigation. Further the easy handling, uniformity and blending during the application make it a more suitable for the both starter and in-season applications. The liquid water-soluble fertilizers also use lesser water, making them favorable for the regions that face frequent scarcity or the water shortages. Although, the high production and the distribution costs associated with the product might be hindering the share of the market in years to come.
By Type:
- Potassic
- Phosphatic
- Nitrogenous
- Micronutrients
By Application:
- Fertigation
- Foliar
By Crop Type:
- Turf & Ornamentals
- Field Crops
- Other Crop Types
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Water-Soluble Fertilizers Market: Regional Analysis
Due to conflict in Ukraine and Russia, there is a major shortage of the fertilizer supply since that is Russia and Belarus export most of the potash fertilizer. The positive outlook for horticulture sector is further driving the market during the period in the coming years. There is limited awareness about the use of water-soluble fertilizer concentration and presence of the stricter government regulations on usage of the chemical fertilizers will be imposing a major challenge on the product manufacturers in the coming years.
In terms of the region, Asia Pacific is going to see a high level of growth in the coming years; it has also been seeing great dominance with the requirement high in the agriculture intensive nations. Countries like India, China and Vietnam are going to see a consistent growth.
On Special Requirement Water-Soluble Fertilizers Market Report is also available for below region:
North America
- U.S, Canada
Europe
- Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
Water-Soluble Fertilizers Market: Key Drivers
The water-soluble fertilizers market is going to see a growth in the last few years. The water-soluble fertilizers are the compound fertilizers which can be completely dissolved in the water and also added or leached out of soil easily. The fertilizers also increase the utilization rate as integration of the water and fertilizer saves fertilizer, water, and labor.
The population is escalating and growth in demand for the food globally is going to drive the fertilizers market in the coming years. This is because the fertilizers provide many advantages over the conventional fertilizers which include a rate of high utilization, a higher crop yield in many limited areas, and it is going to improve the nutrient availability which is available in the soil. The technology advancements in many modes of application, like the foliar and fertigation techniques have also enabled the farmers for using the water-soluble fertilizers a lot more efficiently. This has also minimized the risk of the excess usage of the water-soluble in the specific area.
Recent Developments
- Gujarat State Fertilizers and Chemicals Limited (GSFC) Manufacture Water Soluble Fertilizer
On October 6th, 2020; Gujarat State Fertilizers and Chemicals Limited (GSFC), an Indian manufacturer of fertilizers and industrial chemicals, recently announced that the company is taking up the production of calcium nitrate (CN), a water-soluble fertilizer. GSFC has become the first company in India to manufacture calcium nitrate indigenously under the 'Atmanirbhar Bharat Abhiyan'.
- GAIC Launched Water Soluble Fertilizers
On January 10th, 2020; Gujarat Agro Industries Corporation (GAIC) launched various grades of imported water-soluble fertilizers at an event in Ahmedabad. GAIC Chairman Mr. Madhubhai Srivastava launched the water-soluble fertilizers in the presence of GAIC Managing Director Mr. KS Randhawa, GAIC Senior Officers Mr. Abhay Jain and Mrs. Hetal Desai, and a large number of leading dealers of GAIC across the state.
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