Specialty Fertilizers Market: The granulated fertilizers that supply nutrients to soil and crops gradually are known as specialty fertilizers. These are classified into three types, slow-release fertilizers, controlled release fertilizers, and fertilizers associated with the enzymatic processes inhibitors. Slow-release fertilizers release the nutrients at a low predictable rate and controlled release fertilizers release the nutrients at predictable rates in a specific time period.
Market Outline: Specialty Fertilizers Market
Global specialty fertilizers market is expected to expand at tremendous growth rates due to it’s wide range of benefits over the traditional fertilizers. Furthermore, technological advancements, increase in support of governments, growing population pool, growing demand for food, growing awareness regarding health care concerns are further fuel the growth of specialty fertilizers. On the other hand, factors like complexity in production, high costs of specialty fertilizers are expected to hinder the growth of specialty fertilizers market.
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The Specialty Fertilizers Market is classified on the basis of function, application, form and geographical regions.
Based on type, Global Specialty Fertilizers Market is segmented as
- Monopotassium Phosphate
- Monoammonium Phosphate
- Potassium Nitrate
- Potassium Sulphate
- Potassium Chloride
- Urea
- Ammonium Nitrate
- UAN
- Phosphoric Acid
- Others
Based on crop, Global Specialty Fertilizers Market is segmented as
- Fruits and vegetables
- Cereals and oilseeds
- Turf and ornamentals
- Others
Based on Applications, Global Specialty Fertilizers Market is segmented as
- Agriculture
- Horticulture
- Aquaculture
- Fertigation
- Nutrition
- Foliar
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Specialty fertilizers are being attracted by agricultural sector owing to increased awareness about the sustainable agricultural practices, which further leads to the reduction in farming costs and provide environmental safety. Specialty fertilizers are highly utilized in the cultivation of fruits, vegetables, oilseeds, cereals, pulses, and grains. Specialty fertilizers can also be used to grow ornamental and turf plants. Among these, farmers use specialty fertilizers mostly in the cultivation of grains and cereals crops. The key players of the specialty fertilizers market are undertaking strategic decisions of acquisitions, new product developments, expansions, and investments to maintain their position in the market.
Market segmented in Latin America, North America, Asia- Pacific, The Middle East & Africa and Europe. North America Specialty Fertilizers Market is expected to dominate the specialty fertilizers market. Increased production of cereals and grains in U.S., is the major driving force of the market. Europe is the largest producer of Fruits and Vegetables; hence, it is also expected to witness healthy growth in specialty fertilizers market. Asia-Pacific specialty fertilizers market is expected to be fastest-growing market due to shortage of arable land in countries in APAC particularly in developing countries such as India, China.
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Some of the players in Specialty Fertilizers Market Sociedad Quimica y Minera S.A. (Chile), Yara International ASA (Norway), Sinochem Group (China), Vardhaman Fertilizers and Seeds Pvt Ltd (India), Agrium Inc. (Canada), Haifa Chemicals (Israel), Sungro Seeds Ltd. (India), the Potash Corporation of Saskatchewan Inc. (Canada) and The Mosaic Company (U.S.)
- In 2015 August, Haifa group introduced new controlled release fertilizer that is coated urea granule which offers a continuous supply of nitrogen for 16 months.
Key Features of the Report
- The report provides granular level information about the market size, regional market share, and forecast from 2017-2023
- The report covers in-detail insights about the competitor’s overview, key findings, and their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
- The report tracks recent innovations, key developments and start-up’s details that are working in the industry
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
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