Seattle, WA -- (SBWIRE) -- 03/20/2020 -- NPK is collective term utilized for fertilizers containing two or three fertilizer macronutrients that can cover several scores of formulation and distinctly different process types. These fertilizers help to increase the nutrient & water use efficiency and reduce application costs. In addition, their use increases crop quality and yields.

NPK fertilizers (feed-grade) compounds provide a high amount of protein to ruminant diets. Nitrogen is often used as the major source of crude protein. However, R&D programs and studies conducted by several companies have led to a gradual increase in the awareness of the benefits of potassium and phosphorus among livestock producers.

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Market Drivers

Increase in demand for high-efficiency fertilizers, rise in adoption of precision farming, ease of use & application, and enhanced crop protection provided by NPK fertilizers are major factors that drive the market growth. In addition, surge in demand for NPK fertilizers has increased the overall agricultural output to meet the global food requirements, which fuels the market growth.

Market Segmentation

The broad NPK fertilizer market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.

By Type

- Chlorine Based Compound Fertilizer
- Sulfur Based Compound Fertilizer
- Nitro Based Compound Fertilizer
- Urea Based Compound Fertilizer

By Application

- Wheat
- Rice
- Maize
- Fruits & Vegetables
- Others

Regional Analysis

Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for NPK fertilizer in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.

Key Players:

Yara, Euro Chem., Acron, Rossosh, ZAT, ICL, Helena Chem, IFFCO, Helm AG, Azomures, Uralchem, NPK Expert

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