The water-soluble fertilizers market:solid growth driven by vibrant factors

摘要

Worldwide water-soluble fertilizer (WSF) market's worth was estimated at $12.52 billion in 2016, and is forecast to grow at a steady CAGR of 8.4 per cent between 2017 and 2024, reaching global revenue of $21.07 billion in 2024 (Ameri Research). Although some of these figures can be disputed, this prominent growth rate over the forecast period is maintained by two primary driving forces, namely, the world's booming population coupled with rising demand for food security and quality in developing regions. Worldwide population growth continuously escalates the demand for food in all countries, and this demand is increasing dramatically, mainly in the densely populated countries such as China and India (1.42 and 1.35 billion persons, respectively). Thissituation has direct implications on the question of why should a farmer buy a WSF when granular fertilizers are much cheaper. The simple answer is that WSFs are MUCH more efficient, and with the current situation of a shortage of potable water, arablesoil, skilled manpower and time, efficiency is definitely the name of the game. The introduction of irrigation to agricultural crops has increased food production from a given soil unit, by a factor of 2-4. The use of fertilizers further amplified this effect by a factor of the same magnitude. And the use of WSFs pushed the yield efficiency by an additional two-fold or more. No wonder, therefore, the demand for WSFs is skyrocketing mainly in countries that are under extreme food security pressure, suchas China and India. Global top WSF market producers and providers are: Haifa Group, ICL, Kingenta, SQM and Yara, each of them offering a full portfolio of WSFs as well as other specialized leaders such as Prayon-OCP (specializing in phosphates). Other increasingly prominent players in this market include Acron Group, Uralchem, EuroChem, K+S Kali, and some more regional players such as Coromandel, Migao, Produquimica, Valagro, Puccioni, SAPEC, etc. As done regularly over the 18 past years, New Ag International takes a closer look at a highly dynamic and competitive market where price certainly plays a role in acquiring market share but also other factors!