Sarasota, FL -- (SBWire) -- 02/27/2018 --Global Specialty Fertilizers Market: Overview
Specialty fertilizers are blended with the soil prior to sowing. These fertilizers release essential nutrients and control the amount of moisture contact. In addition, specialty fertilizers enhance the uptake of nutrients, minimizes possible loss of nutrient, and reduce the toxicity caused due to high ionic concentration. They improve the intake of pesticide and acts as binding agents to prevent leaching. Various specialty fertilizers include potassium sulfate, DAP, phosphoric acid, mono-ammonium phosphate, UAN, potassium nitrate, ammonium nitrate, monopotassium phosphate, calcium nitrate, urea, potassium chloride, and ammonium sulfate.
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Global Specialty Fertilizers Market: Growth Factors
Sustainable agriculture practices are gaining popularity across the world; focus is on reducing the cost of farming in order to meet environmental safety measures, all these factors are fuelling the market growth. The market is growing due to the increasing advantages of these fertilizers over the conventional fertilizers. These fertilizers constantly help in providing nutrients to plants, they are more efficient and it also helps in minimizing the labor. The nutrients released by these fertilizers are in sufficient amounts and are completely absorbed by the plants. The use of specialty fertilizers is limited in mainstream agriculture and they are expensive, these factors are majorly restraining the growth of the market.
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Global Specialty Fertilizers Market: Segmentation
The global specialty fertilizers market is fragmented on the basis of type and crop type. Based on type segment, the market is classified into urea, potassium nitrate, ammonium nitrate, mono ammonium phosphate, UAN, monopotassium phosphate, potassium sulfate, phosphoric acid, potassium chloride, and others. The crop type segment is categorized based on fruits & vegetables, cereals & oilseeds, turf & ornamentals, and others.
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Global Specialty Fertilizers Market: Regional Analysis
Geographically, the specialty fertilizers market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The majority of the market share is held by the North America region, which is followed by Asia-Pacific and Western Europe. The U.S. is the fastest growing region for specialty fertilizers in North America. Growth in the Asia Pacific is mainly due to the rise in the population, increasing purchasing power, rising health concerns, the prevalence of crop diseases, growing focus of market players, increasing government initiatives, environmental concerns, and changing lifestyle. Japan, China, and India emerged as a potential market for specialty fertilizers in the Asia Pacific region, this is expected to drive the market in future. India will show a promising growth in the consumption of the specialty fertilizer. This growth can be attributed to the rise in demand for specialty fertilizers, expansion of the Indian economy, and growing awareness about the benefits of specialty fertilizers. The Middle East and Eastern Europe will contribute to moderate market growth in the coming years.
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Global Specialty Fertilizers Market: Competitive Players
Major market players dominating the specialty fertilizers market are Agrium Inc., Yara International ASA, Sociedad Quimica Y Minera S.A., and Haifa Chemicals. Other influencing players include Mosaic Company, Sinochem Group, and Potash Corporation of Saskatchewan Inc.
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Specialty Fertilizers Market Competitive Players Are Mosaic Company, Sinochem Group, Potash Corporation
Zion Market Research, the market research group announced the analysis report titled "Specialty Fertilizers Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"