Global water soluble fertilizers market to reach $14,709.4 million by 2018

The report ”Water Soluble Fertilizers Market” shows that the global market for water-soluble fertilizers in terms of revenue was estimated to be worth around $10,758.7 million in 2012 and is expected to reach $14,709.4 million by 2018, growing at a CAGR of 5.3% from 2013 to 2018.

Europe and North America are the two dominating regions of water-soluble fertilizers in the world. Europe covered around 40.1% of global water-soluble fertilizer market in 2012 where North America had 31.9% share of the global value. Growth is particularly high in countries such as China, India, and Israel because of the increased demand for food, innovative production practices, and sprawling network of micro irrigation and mechanized irrigation systems.

The global water-soluble fertilizer market is witnessing a steady growth on an account of increasing market for micro-irrigation systems and protected cultivation. A water-soluble fertilizer can be quickly and completely absorbed by the plants; hence, are used in fertigation or foliar application.

Water-soluble fertilizers have proven advantages over the chemical fertilizers in terms of increased yield, reduced labor costs, and a simple process of application. Also, they are required in lesser amounts than solid chemical fertilizers. Hence, the concept of water-soluble fertilizers is viewed as a business opportunity in a sluggishly growing fertilizer market. As a result, many multinational fertilizers players have entered into the production and marketing of water-soluble fertilizers.

Nitrogenous water-soluble fertilizers account for major market share followed by phosphatic, and potassic water-soluble fertilizers. The acceptance for others water-soluble fertilizers with micronutrients, biostimulants, biofertilizers, etc. is increasing. Higher efficiency of water-soluble fertilizers than the chemical fertilizers is the major reason driving the demand. Many major players are focused on Asia-Pacific region for business expansion as the increasing rate of awareness among the farmer and increasing area under micro-irrigation has triggered the demand for water-soluble fertilizers.

The key participants in the global water-soluble fertilizers market are Agrium (Canada), Israel Chemical (Israel), Iowa Fertilizer (Egypt), Qatar Fertilizer (Qatar), Yara International (Norway), and Sinochem Fertilizer Co. Ltd. (China). The global water-soluble fertilizers market is witnessing rapid developments in the areas of mergers & acquisitions and joint ventures. The leading companies are focused on expansion of the business across regions and setting up new plant for increasing production capacity as well as product line.