Global Chemical Fertilizers Market Is Anticipated to Surge Approximately $23.1 Billion By 2030

The global chemical fertilizers industry size was nearly $18.1 Billion in 2022 and is anticipated to surge to approximately $23.1 Billion by 2030 along with recording the highest growth rate of nearly 9.1% from 2023 to 2030.

Chemical fertilizers include urea, diammonium phosphate, and single superphosphate. They are utilized for maintaining the level of phosphorus, nitrogen, and potassium in the soil. A chemical fertilizer is a synthetic compound that is produced from either sewage or animal waste and nitrogenous or phosphatic materials apart from other constituents. A large number of the chemical fertilizers used in farming activities such as NPK fertilizers have huge proportions of nitrogen, phosphorous, and potassium.

Escalating need for optimizing crop yield and soil productivity through the help of traditional farming activities will embellish the growth of the global chemical fertilizers market. Escalating need for sustainable agricultural activities at lesser costs has enhanced the use of chemical fertilizers in the farming sector. Moreover, the rising population and less availability of cultivable land leading to the use of chemical fertilizers for increasing crop yield has spurred the global market expansion. Apart from this, chemical fertilizers help in increasing the natural productivity of microbes & organisms that benefit the growth of crops. Additionally, organic & chemical fertilizers are used in combination for increasing the rice bran, dried grains, and cottonseeds yield.

Huge costs of raw components and stringent government regulations related to carbon emissions in the atmosphere will impede the expansion of the chemical fertilizers industry across the globe. Moreover, the surging use of natural fertilizers and demand for eco-friendly products will decimate the global industry expansion. However, chemical fertilizers are cost-effective as compared to organic fertilizers and this will generate new growth opportunities for the global chemical fertilizers industry.

The global chemical fertilizers market is sectored into macronutrients, application, product type, crop category, and region.                

The product type segment of the chemical fertilizers market is sub-segmented into DAP, complex fertilizers, urea, SSP, DAP, and MOP segments. Furthermore, the urea segment, which accounted for the highest share of the global market in 2022, is predicted to register the highest CAGR of 4.5% during the forecast timespan. The segmental expansion over 2023-2030 can be owing to the extensive use of urea in farming as animal feed and fertilizer. Furthermore, urea provides plants with nitrogen for promoting the growth of green leafy plants. It also helps in the photosynthesis of plants.

On the basis of crop category, the chemical fertilizers industry across the globe is divided into fruits, cereals, vegetables, oilseeds, and others. Moreover, the cereals segment, which dominated the crop category segment in 2022, will continue to do so even in the coming years. The segmental growth over the projected timespan can be attributed to the offering of mineral ions by chemical fertilizers for the healthy growth of cereals. Apart from this, these products contain nutrients helping in enhancing cereal production. Furthermore, chemical fertilizers comprise phosphorous, nitrogen, and potassium which contain nutrients that increase the fertility of soil and cereal yield.

Based on the application, global chemical fertilizers market is divided into soil treatment, seed treatment, root dipping, and others.

In terms of macronutrients, the global chemical fertilizers industry is sectored into potash fertilizers, nitrogen fertilizers, and phosphate fertilizers segments.

Furthermore, the Asia-Pacific, which accounted for half of the global chemical fertilizer market revenue share in 2022, is slated to lead the regional industry expansion over the forecast timeframe. The regional market expansion over 2023-2030 can be subject to the humungous use of urea in farming activities in the countries such as India and China. In addition to this, the presence of key product manufacturers in the countries such as China and India will expand the scope of the industry growth in the Asia-Pacific zone.

Browse the full “Chemical Fertilizers Market By Macronutrients (Nitrogen Fertilizers, Potash Fertilizers, and Phosphate Fertilizers), By Application (Seed Treatment, Root Dipping, Soil Treatment, and Others), By Product Type (Complex Fertilizers, MOP, Urea, DAP, and SSP), By Crop Category (Cereals, Fruits, Oilseeds, Vegetables, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030.” Report at https://www.zionmarketresearch.com/report/chemical-fertilizers-market

Recent Developments:

• In last quarter of 2022, Deepak Fertilizers & Petrochemicals Corporation, a key India-based manufacturer of fertilizers, industrial & agricultural chemicals, and crop nutrients, announced to have created new soil nutrients for enhancing crop output. The firm aims at expanding the crop nutrient portfolio and the initiative will embellish the expansion of the chemical fertilizers industry in India.
• In the first quarter of 2023, IIT Roorkee, a reputed tech institute based in India, established a center of excellence for research in chemical engineering and petrochemicals. The move will spur the growth of the chemical fertilizers market in India as well as in the Asia-Pacific region.
• In the second quarter of 2023, domestic production of Urea in India is predicted to increase with a fertilizer unit going to be functional by October 2024. For the record, four other fertilizer producing plants are already functional in India. Moreover, the strategic initiative will expedite the chemical fertilizer market surge in India.

Key players in the global chemical fertilizers market include:

• Syngenta AG
• ARA International
• Uralkali
• Nutrien Ltd.
• The Mosaic Company
• K+S Aktiengesellschaft
• Haifa Group
• ICL Group Ltd.
• EuroChem Group
• OCP Group S.A.

The global chemical fertilizers market is segmented as follows:

By Macronutrients

• Nitrogen Fertilizers
• Potash Fertilizers
• Phosphate Fertilizers

By Application

• Seed Treatment
• Root Dipping
• Soil Treatment
• Others

By Product Type

• Complex Fertilizers
• MOP
• Urea
• DAP
• SSP

By Crop Category

• Cereals
• Fruits
• Oilseeds
• Vegetables
• Others

 By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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