Top insights for Fertilizer Markets:
The global demand for fertiliser nutrients (consisting of nitrogen (N), phosphate (P2O5)
and potassium (K2O)) is expected to reach 191.4 million tons by the middle of 2020.
Between FY 2017 and FY 2020, global fertilizer demand is expected to increase by 1.5%,
with stronger growth for K2O than for N and P2O5 .
In the last five years between 2014-2019, world nitrogen fertilizer demand has increased
by 1.24%, P2O5 demand by 1.97%, K2O demand by 2.47% compound growth rate.
It is estimated that growing fertilizer application and more water usage by irrigation
have been responsible for over 70 percent of the crop yield increase throughout the world.
Following 1.3% growth in 2017/18, global fertilizer consumption is seen as dropping by
1.0% in 2018/19, to 190 Mt. This contraction reflects a combination of low international
prices for most crops; unfavorable weather in important agricultural and fertilizer-consuming
areas (e.g. the central US and eastern Australia); currency depreciation in some
fertilizer-importing countries, especially Turkey and Pakistan; trade tensions
between China and the US and between Russia and Ukraine; sanctions against Iran; and
increasing emphasis on the more efficient use of fertilizers in developed countries
The use of agrochemicals in fertilisers, herbicides, insecticides and pesticides is
rising because of increasing demand for agro products owing to rapid industrialisation
and population growth globally.
According to TechSci Research report, Global Sulphur Fertilizers Market is projected
to reach USD 6.35 Billion by 2023 at a CAGR of over 3% owing to the growing need of
sulphur fertilizers for higher productivity due to the constantly growing demand
Overview per country:
- China: China imported 5.56 million metric tons of fertilizers in the first half of 2018, a considerable increase of 19.1% year-on-year (6.9 percentage points higher compared to the same period of last year).
- South Africa: Exports of South African fertiliser products have declined across all product groups over the past few years, due to adverse weather conditions in many key markets, a shortage of foreign exchange in some markets (such as Zimbabwe), and increasing competition from cheap imports from China and India.
- EU: Western and Central Europe consumed 17 371 tonnes or 9.3% of global consumption of phosphate based fertilizers in 2018. The EU is a net importer of nitrogen and phosphate fertilizers: while producing 9% of global nitrogen fertilizers and 3% of global phosphate fertilizers, it consumed 10% of global nitrogen, 7% of global phosphate and 10% of global potash in 2016.
Top view datapoints for Fertilizer Markets:
View More Insights
- Fertilizer Price in the World, Forecast - 1990 to 2028
- Fertilizer Consumption in the World - 2002 to 2019
- Forecast [COVID-19 updated]: Fertilizer Consumption in the World - 2019 to 2023
- Nitrogen Fertilizer Production in the World - 2002 to 2019
- Forecast [COVID-19 updated]: Nitrogen Fertilizer Production in the World - 2019 to 2023