Fertilizers manufacturers are using coatings to preserve the quality of manufactured fertilizers while shipping, storage and handling. Coatings can be further used for other functions such as controlled-release and minimize moisture retention. Various materials used for coating fertilizers include clay, oils, wax, polymer solutions and resins. Major companies manufacturing coating substances for fertilizers are BASF Corporation, DuPont Pioneer and Invista.
A fertilizer is a chemical mixture which is applied on soil or plants to supply nutrients essential to the growth of plants. The global chemical fertilizers market, valued at $120 billion in 2014, declined to $104.9 billion in 2018. The market decline was due to erratic rainfall in the historic period, enforced safety standards by governments, and overcapacity in food production (particularly in China and the USA), leading to a drop in the demand for fertilizers. The global chemical fertilizers market will grow from $104.9 billion in 2018 to $121.3 billion in 2022, at an annual growth rate of more than 3.5%. The market growth in the forecast period can be attributed to global economic growth and the emergence of water-soluble fertilizers such as those applied by fertigation and foliar feeds in the agricultural industry.
The global economy is expected to go through a period of steady growth during the forecast period. Emerging markets are expected to continue to see generally higher levels of growth than developed markets during this period, and these are the markets where increased income is most readily translated into increased demand for agricultural products, which is a significant driver of the market for fertilizers. Greater economic growth will drive public and private investment, and increased R&D activities in the chemicals industries, thereby driving the global fertilizers market.
The water-soluble fertilizers market is growing rapidly due to the increased commercial cultivation of high value crops to meet the increasing demand for such food. These fertilizers are specifically designed to be used in fertigation systems such as sprinkler and drip irrigation systems. Increasing awareness among farmers of technology-driven agricultural practices in developing nations is driving water soluble fertilizers’ sales.
Fertilizers companies are increasingly using Nano-technology to enhance the efficiency of the fertilizers. Nano-fertilizers can increase the soil fertility yield and enhance the quality parameters of the crop. Furthermore, they are non-toxic and less harmful to the environment and humans, compared to the conventional fertilizer products. Nano-particles can also increase efficiency of nutrients and minimize the costs of environment protection. Major companies manufacturing Nano-fertilizers are Richfield Fertilizers Pvt. Ltd, Alert Biotech, Nanosolutions and Florikan.