The Global Water Soluble Fertilizers Market is anticipated to reach USD 4,256.7 million by 2022 owing to increasing awareness and adoption.
Hyderabad, India -- (SBWIRE) -- 01/22/2018 -- The report " Water Soluble Fertilizers Market by Crop Type (Field, Horticultural, And Turf & Ornamentals), Application (Fertigation and Foliar), Type (Nitrogenous, Potassic, Phosphatic And Micronutrients) And By Region - Forecast to 2022", The Water Soluble Fertilizers market is expected to reach USD 42.56 Billion by 2022 from an estimated USD 31.46 Billion in 2017, at a CAGR of 5.36%. The key factors such as increasing needs of families as a result of rapidly expanding populations, coupled with increasing necessity of farmers to safeguard produce are the major drivers of market growth.
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By crop type, the field segment accounted for the largest share of the market in 2017
On the basis of Crop Type Grown, it is segmented into Field, Horticultural, and Turf & Ornamentals. On the basis of how they are used (application), they are further segmented into Fortigation and Foliar method. The Field type crop segment accounted for the major market share in 2017 driven by the extensive and increasing use of these products.
On the basis of type of WSF, they are divided into Nitrogenous, Potassic, Phosphatic and Micronutrients. Potassic and Micronutrients based WSF are expected to show the huge growth among other types as there is a balanced need of all the nutrients for plants. Fertigation mode is most commonly used to apply WSF. Fertigation mode stands for the application for fertilizers combined with irrigation through the techniques of sprinklers and pumps. Historically, NPK has accounted for the major market share and is expected to hold the position in the future as it is the foundation of crop growth.
Europe dominated the market in 2017 accounting for more than 35 percent of the global market share.
Europe accounted for the largest share of the Water Soluble Fertilizers market in 2017, followed by North America. The large share of the European Water Soluble Fertilizers market can be attributed to the growth in fertigation techniques and the increasing demand for water soluble fertilizers to cater to the demand of the increasing populace.
The various players in the Water Soluble Fertilizers market include PR Agro Nutri Private Ltd. (India), CF Industries (US), The Mosaic Company (US), Israel Chemicas (Israel), Eurochem (Switzerland), Terra Nitrogen Company (US), PT Petrokimia Gresik (Indonesia), Sinofert Holdings (Hong Kong), Americas Petrogas (Canada) and Sirius Minerals (UK).About MarketDataForecast™-
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