The growing demand for food owing to an increase in world population is driving the market for Europe Mineral Fertilizers.
Europe Mineral Fertilizers Market Size – USD 109.20 Billion in 2019, Growth - CAGR of 2.4%, Trends – Improved quality and higher yield.
The global Europe Mineral Fertilizers Market is forecast to reach USD 130.72 Billion by 2027, according to a new report by Reports and Data. An increase in global population, and economic growth is a major driving factor of the market.
The market, mainly in the emerging nation, is growing with the support of the government. Governments all across the globe are offering support in the form of subsidies, incentives, loans, and tax waivers on agricultural fertilizers, which is boosting the overall industry. Rising interest rate, soil erosion, reduction in free trade, increasing usage of bio-fertilizers, government regulations, alternative farming prices, and increasing trend of organic food are also restricting the demand of the market.
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Top Companies: Yara International, Israel Chemicals Ltd., The Mosaic Company, Uralkali, Bunge Ltd., CF Industries Holdings Inc., Eurochem Inc., SQM, Coromandel International Ltd., and Sinofert Holdings Ltd. among others.
Further Key Finding from the Report Suggestion:
- In the year 2019, the demand for nitrogen prices was under pressure for various reasons. Lower energy prices, weak trade growth, and trade disruptions kept the price from rising much the previous year. The segment still held the largest market share of 33.9% in the year 2019.
- China, Egypt, and Southeast Asia have all increased the production of urea from the year 2018. The only region that saw a dramatic decrease of 39% was Iran, due to the U.S. sanctions. India witnessed a large increase in the urea imports due to strong sales and low production in the country.
- Seed treatments have evolved over the years from merely protecting the seed to helping them improve long-term plant health, which led to higher production and better quality. The seed treatments are designed to enhance growth, plant emergence, and nutrition efficiency, which, with crop immunity, promote a more uniform and vigorous crop.
- Asia Pacific held the largest market share of 58.1% in the year 2019. East and South Asia are the major consumer of fertilizers in the region. Most of the countries in the region are the agricultural economy, and the government's initiative to promote better crop production propelled the demand for the market product.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Europe Mineral Fertilizers market is segmented into:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Seed Treatment
- Soil Treatment
- Root Dipping
Application Method Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Foliar Spray
- Drop Spreading/Placement
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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