Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 18.1 Billion | USD 23.1 Billion | 9.1% | 2022 |
FrequentlyAsked Questions
Chemical fertilizers including urea, diammonium phosphate, and single superphosphate are utilized for maintaining the proportion of nitrogen, phosphorus, and potassium in the soil. The chemical fertilizer is referred to as a synthetic compound manufactured from sewage as well as animal waste and nitrogenous or phosphatic materials apart from other ingredients.
The global chemical fertilizers market is projected to expand over 2023-2030 due to the humungous demand for increasing production of cereals with the rise in the global population across the globe has generated a massive need for increasing crop yield
According to study, the global chemical fertilizers market size was $18.1 billion in 2022 and is projected to reach $23.1 billion by the end of 2030.
The global chemical fertilizers market is anticipated to record a CAGR of nearly 9.1% from 2023 to 2030.
The Latin American chemical fertilizers industry is set to register the fastest CAGR over the forecasting period subject to an increase in the need for crop yield to feed the rapidly surging population.
The global chemical fertilizers market is led by industry players such as Syngenta AG, ARA International, Uralkali, Nutrien Ltd., The Mosaic Company, K+S Aktiengesellschaft, Haifa Group, ICL Group Ltd., EuroChem Group, OCP Group S.A., and other key players.
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