A fertilizer is
any material of natural or synthetic origin that is applied to soils or to
plants to supply one or more plant nutrients essential to the growth of plants. The fertilizer
industry procures raw materials such as rock phosphate, sulphur and ammonia
from mining companies and natural gas from oil and gas companies to produce
fertilizers.
Many farmers across the world are shifting from
chemical fertilizers to organic fertilizers. Organic fertilizers are
carbon-based compounds that increase the productivity and growth quality of
plants. Using organic fertilizers helps ensure food produced from these
fertilizers is non-toxic, safe and environment friendly and also ensures farms
remain fertile for longer periods. Organic fertilizers play an important role
in practicing sustainable organic farming by the farming community.
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The reasons for expected
growth of the global fertilizers market size from $357 billion in 2017 to $412 billion
by 2021 are the economic growth and technological advances.
Fertilizer Market Segmentation
The fertilizer
market in The Business Research Company’s report is segmented into three
segments, namely nitrogen, phosphate and other fertilizers manufacturing. While the first segment accounts for three-fourth of the market share, the
remaining share is split among the other two segments.
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Asia-Pacific was
the largest region in the fertilizer market in 2017, accounting for more than two-fifth
of the market share.
The top fertilizer manufacturers covered in the
report are Yara International Asa, The Mosaic Company, Potash Corp. Of
Saskatchewan Inc., Eurochem Inc. and Agrium Inc. Yara International Asa was the
largest competitor in the fertilizer industry, followed by The Mosaic Company
and Potash Corp. Of Saskatchewan Inc. Yara International Asa is
involved in the production of nitrogen fertilizer, dry ice, nitrates, ammonia,
urea and other nitrogen-based chemicals. Yara International was founded in 1905
and is headquartered in Oslo, Norway.
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