The affordability, ease of use and reduced environmental impact has stimulated the use of specialty fertilizers globally. The market is growing due to the comparative advantages it has over the conventional fertilizers.
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In this way, they minimize the possibility of fertilizer wastage. They can also be used as binding agents to prevent leaching and can be employed as an adhesive to increase pesticide intake.
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These fertilizers are more efficient and also helps in minimizing the labor. The nutrients released by these fertilizers are in sufficient amounts and are completely absorbed by the plants.
The development of specialty fertilizers has seen dramatic growth since 2000. However, specialty fertilizers usage in mainstream agriculture is limited as well as expensive which is curtailing the growth of the market.
Declining prices as well as the new technology in specialty fertilizers products are providing new growth opportunities to the market players.
Turfs & Ornamentals Anticipated to be the Dominant Segments During the Forecast Period, 2018-2026
Among the crop type, Turfs & ornamentals is a dominant segment holding the largest market share. It is also anticipated to be the fastest growing market during the forecast period as vast residential areas, large sports centers and golf course will continue to drive the demand for this segment.
Spain occupies around 10% of the European market for turf and ornamental input due to love for outdoor sports like football. Increasing popularity and productions of turfs & ornamentals is leading to rising demand for specialty fertilizers market.
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Use of Advanced Technologies and Economies of Scale to Produce Low-Cost Specialty Fertilizers to drive the Market in Asia Pacific
The Asia Pacific dominates the market and is estimated to be the fastest growing region in specialty fertilizers market. China and India are the most attractive markets for these fertilizers in Asia Pacific.
China emerged as the dominant consumer of these fertilizers in 2014. The industry has introduced innovative, coated and fortified fertilizers, and specialty fertilizers to improve fertilizer use efficiency and improve agricultural productivity to enhance income of the farmers.
Other regional markets exhibit moderate attractiveness due to the low adoption of these fertilizers in the agriculture and horticulture sectors. However, Asia Pacific has been proactive in the development and propagation of new and more appropriate grades of fertilizers.
Specialty Fertilizers Market is Fragmented with the Presence of Global and Regional Players
Some of the primary participants in global specialty fertilizers market include PotashCorp, The Mosaic Company, EuroChem, CF Industries, Agrium Inc., Israel Chemicals Limited, Coromandel International Limited, Haifa Chemicals ltd., Sinochem Corporation, Sociedad Quimica Y Minera S.A., and Tessenderlo Group, amongst others. ICL acquired Grupo Empresarial Agromediterraneo, S.L., the holding company of Antonio Fuentes Mendez S.A., (“Fuentes”) which is Spain’s largest producer of specialty fertilizers.
The purchase included Fuentes’ line of proprietary liquid, soluble fertilizers and bulk blends. Fuentes and its wholly-owned operating subsidiaries became a part of ICL Specialty Fertilizers, a business unit of ICL Fertilizers.
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- Specialty Fertilizers Market – By Crop Type
- Cereals & Oilseeds
- Fruits & Vegetables
- Turfs & Ornamentals
- Others (Pulses, Sugar Crops, Fiber Crops, and Plantation Crops)
- Specialty Fertilizers Market – By Type
- Water Soluble
- Slow & Controlled Released Fertilizers
- Micronutrient & Secondary Nutrient Fertilizers
- Stabilized Fertilizers
- Specialty Fertilizers Market – By Region
- North America
- Rest of North America
- The UK
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Southern Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
- North America
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