Bharatbook.com announces a report on “Liquid Fertilizers Market by Type, Mode of Application, Form, Crop Type, and Region - Global Forecast to 2021”. This is an essential nutrient to build amino acids, which create proteins, and it takes part in almost every biochemical reaction performed in a plant.
Liquid fertilizers market is projected to grow at a CAGR of 3.1%
The Liquid Fertilizers Market is projected to reach a value of USD 13.48 billion by 2021, growing at a CAGR of 3.1% from 2016. The market drivers include growing demand for high efficiency fertilizers, ease of use and application, adoption of precision farming and protected agriculture, and increasing environmental concerns.
Nitrogen segment is projected to be the largest segment, by type, from 2016 to 2021
Nitrogen is one of the most widely consumed nutrients among all the macro and micro elements required for plant growth. This is an essential nutrient to build amino acids, which create proteins, and it takes part in almost every biochemical reaction performed in a plant. Easy availability and low cost are driving the market for liquid fertilizers.
Foliar mode of application is projected to be the fastest-growing and largest segment from 2016 to 2021
Foliar is the most commonly used mode of application for liquid fertilizers, because of it is easy to use and it is compatible with liquid fertilizers. Furthermore, the benefits of foliar mode of application such as neutralizing adverse soil conditions, helping in rapid plant growth, increased efficiency, and increased nutrient absorption as compared to other conventional modes of application are the major reasons driving the demand in the global market.
Asia-Pacific is projected to be the fastest-growing segment from 2016 to 2021
Asia-Pacific is the largest and fastest-growing market for liquid fertilizers due to extraordinary economic growth, increase in population, and support from governments as well as national and international associations to increase the agricultural production of oil, grains, fruits, and vegetables to meet the demand for food products in the region.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is as follows:
By Company Type: Tier 1: 28%, Tier 2: 39%, and Tier 3: 33%
By Designation: Director Level: 19%, C Level: 34%, and Other Levels: 47%
By Region: North America: 25%, Europe: 21%, Asia-Pacific: 32%, Latin America: 13%, and Rest of the World: 9%
Major players include the following:
• Agrium Inc. (Canada)
• K+S AKTIENGESELLSCHAFT (Germany)
• Yara International ASA (Norway)
• Israel Chemicals Ltd (Israel)
• Sociedad Quimica Y Minera SA (SQM) (Chile)
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