The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Chemical Fertilizers Global Market Report 2023, the chemical fertilizers market is expected to show significant growth in the forecast period.

Key insights from the chemical fertilizers market forecast include:

1. Market Size

The worldwide chemical fertilizers market is projected to reach $169.17 billion in 2023, with a 6.3% CAGR from $159.16 billion in 2022. By 2027, it is anticipated to reach $214.07 billion, maintaining a 6.1% CAGR.

2. Major Driver

Farmers globally adopt intensive farming for increased land productivity, relying on pesticides, fertilizers, and mechanization. These methods address food demand, population growth, and food security concerns. Monoculture, a part of intensive farming, elevates fertilizer demand but exhausts soil nutrients, necessitating synthetic fertilizers.

View More On The Chemical Fertilizers Market Report 2023 – https://www.thebusinessresearchcompany.com/report/chemical-fertilizers-global-market-report

3. Key Trend

Companies are reclaiming phosphorus from various sources, like sewage and manure, for use as fertilizer due to its finite nature. Anaerobic digestion, composting, acid treatment, and oxidation enhance plant-available phosphorus content. Research by the Luke Research Agency in Finland shows treated manure and sludge can offer more phosphorus compared to traditional inorganic fertilizers.

4. Major Players

Major companies in the chemical fertilizers market include Sinopec Limited, Yara International ASA (ADR), Guardian Industries LLC, Nutrien Ltd., Marubeni, Mitsui, BASF SE, CF Industries Holdings Inc., Israel Corp Ltd., and Sinofert Holdings Limited.

5. Top Market Segments

The global chemical fertilizers market is segmented –

1) By Type: Nitrogen Fertilizer, Phosphate Fertilizer, Potash Fertilizer

2) By Crop Category: Cereals, Oilseeds, Vegetables, Fruits, Other Crop Categories

3) By Method of Application: Broadcasting, Drop Spreading, Fertigation, Foilar Spray

4) By Form: Solid, Liquid, Gaseous

5) By Product Type: Complex Fertilizers, DAP, MOP, Urea, SSP, Other Product Types

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The Chemical Fertilizers Global Market Report 2023  provides an in-depth analysis on the chemical fertilizers market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the chemical fertilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Chemicals Global Market Report 2023
Nitrogen Fertilizer Global Market Report 2023
Liquid Fertilizers Global Market Report 2023

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