Overview of the global liquid fertilizer market
Technavio’s market research analyst predicts the global liquid fertilizer market to grow at a CAGR of around 3% by 2020. The depletion of soil quality has propelled the use of fertilizers that helps farmers to increase the crop yield by three to four times. The surge in crop acreage and the growing requirement to boost crop production are stimulating many farmers to use liquid fertilizers as plants can immediately absorb these fertilizers and offer faster outcomes. Small-scale farmers are also purchasing liquid fertilizers to reduce their dependency on weather conditions and get an increased yield even in damp, wet, or windy weather. Additionally, there is also a rise in the demand for the proper use of fertilizers as the degradation of soil quality is leading to micronutrient deficiency in crops worldwide. This lack of micronutrients in soils has propelled the practice of applying liquid fertilizers.
APAC will be the fastest-growing region in the market during the forecast period owing to the increase in hydroponic system field areas, availability of fertilizers at subsidized rates, and rise in mechanization, which has resulted in the increased adoption of technologies such as liquid fertilizer sprayers. Some of the major fertilizer-consuming countries in the region include Australia, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Japan, South Korea, China, India, Pakistan, and Bangladesh. The demand for fertilizers will see tremendous growth in the region owing to the surge in programs that promote balanced fertilizer use.
Competitive landscape and key vendors
The market is characterized by the presence of diversified international and national players, where the global vendors dominate the market and are expected to grow inorganically by acquiring regional or local players. These vendors pose a tough challenge for small vendors in terms of price, availability, brand, and variety. Competition in the market is expected to intensify because of an increase in product and service extensions and M&As. To sustain themselves in the market, vendors are introducing several innovative and advanced fertilizer solutions to meet end user demands.
Leading vendors in the market are -
- Agrium
- Haifa Chemicals
- ICL
- RLF
- Yara
Segmentation by nutrient type and analysis of liquid fertilizer market
- Nitrogen
- Phosphate
- Potassium
- Micronutrients
Nitrogen-based liquid fertilizers account for over two-third share of the liquid fertilizer market and is likely to occupy more than 68% of the total market share by 2020. Nitrogen in the form of nitrate can be easily absorbed by all crops and can help plants increase their yield. Owing to the increasing population and growing demand for biofuels, the need for crop resistance from diseases and insects has increased considerably, which has, in turn, stimulated crop growth and has boosted the nitrogenuptake. Liquid urea-ammonium nitrate (UAN) is the most widely used form of liquid nitrogenous fertilizer for plant nutrition.
Segmentation by application type and analysis of the liquid fertilizer market
- Starter solutions
- Foliar application
- Fertigation
- Injection into soil
- Aerial applications
Fertigation is a method where the water-soluble fertilizers are dissolved into the irrigation system such that the water and the fertilizer nutrients become available to the plant roots at the same time and location. This form of application is significantly increasing as it aids in the effective application of fertilizers resulting in reduced nutrient loss due to leaching or volatilization. Fertigation also provides plants with the correct dosage of fertilizer throughout their growth cycle. Sucha form of application is common in regions that lack adequate rainfall and other water resources. Mostly nitrogen-based fertilizers are applied through fertigation.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global liquid fertilizer market?
- What are the key market trends impacting the growth of the global liquid fertilizer market?
- What are the challenges to market growth?
- Who are the key vendors in the global liquid fertilizer market?
- What are the market opportunities and threats faced by the vendors in the global liquid fertilizer market?
- Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
- What are the key outcomes of the five forces analysis of the global liquid fertilizer market?