Complex Fertilizers Market

Global Complex Fertilizers Market Size (2024 to 2032)

The global complex fertilizers market was valued at USD 62.25 billion in 2023 and is anticipated to reach USD 66.65 billion in 2024 from USD 115.12 billion by 2032, growing at a CAGR of 7.07% from 2024 to 2032.

The mixing of two or more macro-nutrient type fertilizers produces compound fertilizers, also known as complex fertilizers. Often, they are blended further with elements containing secondary or trace nutrients such as sulfur, calcium, and magnesium.

Market Drivers and Restraints

The growing need for food security for the growing population, rising demand for oilseeds, advanced farming technologies that deliver safe and reliable application of complex fertilizers, and the ease of application of complex fertilizers are the primary drivers of this market. This market represents a potential opportunity in the forecast period. Thus, several key players have invested heavily in augmenting their production capacities and producing various complex crop-specific fertilizers. Secondary factors contributing to the growth of this market include the need to increase productivity, fertilizer intensity gaps across regions, level yield, and growing awareness about soil profile and nutritional balance, which is supported by the state. The paradigm shift towards organic food and non-food consumption is the major restraint of this market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Complex Fertilizers Market By Type

The incomplete complex fertilizers market is estimated to have a high CAGR during the aforementioned forecast period. The Diammonium phosphate fertilizers category was the largest in 2016. The Monoammonium phosphate fertilizers category is estimated to be the fastest-growing during the aforementioned forecast period.

Global Complex Fertilizers Market By Crop Type

In terms of volume, Oilseeds are the fastest-growing segment because of the growing demand for agricultural production.

Global Complex Fertilizers Market By Form

The solid segment commanded more than half of the market as per the 2016 data. It is economical to use it on low-cost cereals such as wheat and corn since it is a low-cost technique compared to other techniques (such as fertigation).

REGIONAL ANALYSIS

By geography, the global complex fertilizer market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Presently, Asia-Pacific accounts for the largest market share, while Latin America has the highest CAGR.

KEY MARKET PLAYERS

Major companies in the Complex Fertilizers market are CF Industries Holdings Inc. (U.S.), Yara International ASA (Norway), The Mosaic Company (U.S.), EuroChem Group AG (Switzerland), Potash Corporation of Saskatchewan (Canada), PhosAgro (Russia), Agrium Inc. (Canada), Israel Chemicals Limited (Israel), Sociedad Química Y Minera De Chile (Chile), Haifa Chemicals Ltd., (Israel), Helena Chemical Company (U.S.), and Zuari Agro Chemicals Ltd (India).

DETAILED SEGMENTATION OF THE GLOBAL COMPLEX FERTILIZERS MARKET INCLUDED IN THIS REPORT

This research report on the global complex fertilizers market is segmented and sub-segmented based on Type, Crop Type, Form, and Region.

By Type

• Incomplete (Diammonium phosphate, Monoammonium phosphate
• Monopotassium phosphate
• Potassium nitrate
• and Others (Nitro phosphate and urea phosphate)) and Complete (NPK (10-26-26), NPK (12-32-16), NPK (15-15-15) and Other NPK compounds)

By Crop Type

• Cereals
• Oilseeds
• Fruits & vegetables
• and others (turf & ornamentals, plantation crops, fiber crops, and silage & forage crops)

By Form

• solid
• liquid

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa