Water Soluble NPK Fertilizers Market Continues To Grow Owing To Demands from Agriculture Industries Especially In Emerging Nations to Ramp Up The Yield Owing To The Growing World Population

 

Water soluble NPK fertilizers are the best for garden plants. Soluble fertilizers are easily absorbed by the soil. These are normally sold in spray form and can even be added directly to the garden. These tend to be a little bit more expensive than other types of fertilizers but they will do a much better job of keeping the soil healthy. One of the benefits of using water soluble NPK fertilizers over others is that they tend to do a better job of breaking down organic matter in the soil, this makes the soil much healthier and will help the nutrients get to where they need to go to be used by your plants.

Market Dynamics                                  

The main factor influencing the water soluble NPK fertilizers market is the increasing demand for crops with high-value produces. The increasing requirement to use specialty fertilizers is expected to augment the market growth. Moreover, the increasing population in several emerging nations and underdeveloped nations has raised severe concerns related to food security and existing food production issues. For instance, according to data by the United Nations, the estimated population of China in 2020 was 1,439,323,776, which accounts for 18.47% of the gross global population. China ranks first on the world population list. With such an extensive population rate, increased production of food is very necessary. Hence agricultural sectors are using wider amounts of water soluble NPK fertilizers to ramp up the yield. This is expected to propel the growth of water soluble NPK fertilizers market.

However, the high price of these water soluble NPK fertilizers is the main restraining factor that hinders market growth.

This market is distributed in five regions that include North America, Europe, Asia-Pacific, Africa, and Middle East, and Latin America. Among these Asia- Pacific is expected to hold a significant share of the water soluble NPK fertilizer market owing to the limited water resources and degrading arable land in the agrarian economies of the regions such as India and China. For instance, according to the Indian Council of Agricultural Research, there are currently 394.6 million acres of arable land in the region. Moreover, government initiatives and heavy investments for the betterment of agriculture are expected to boost the growth of the water soluble NPK fertilizer market in this region.

North America is estimated to witness significant growth in the market owing to the presence of key players in this region.

Competitive Analysis

Key players operating in the global water soluble NPK fertilizers market include Yara International ASA, Indian Farmers Fertiliser Cooperative Limited, The Mosaic Company, SQM S.A., Sichuan Guoguang Agrochemical, PT Petrokimia Gresik, OMEX, PhosAgro Group, K+S Aktiegesellschaft, Israel Chemicals Limited, Uralchem Group, Hebei Monband Water Soluble Fertilizer Co. Ltd., Haifa Chemicals Ltd., Eurochem Group, Coromandel International Limited, Compo Expert GmbH, Arab Potash Company, and Acron Group.

In January 2020, Gujarat Agro Industries Corporation (GAIC) introduced WSF products. Liek wise in December 2019, Van Iperen International tightened its product like in the fertilizer market of the U.S. along with its subsidiary.