Summary
The China Specialty Fertilizer Market is projected to register a CAGR of 6.07%
Key Highlights
Largest segment by Speciality Type - Liquid Fertilizer : Liquid fertilizers can penetrate the soil easily and allow plants to absorb nutrients more quickly, reduce fertilizer waste, and be applied to either ground or on the foliage..
Fastest growing by Speciality Type - SRF : The SRF are safe to the soil and environment as they precisely release the nutrients in to the soil throughout the cropping season and thus reduce the leaching of nutrients.
Largest Segment by Crop Type - Horticultural Crops : horticulture crops are cultivated year-round and have better irrigation systems like sprinkler and drip irrigation, which continue to require specialty fertilizers.
Largest segment by Application Mode - Foliar : Foliar spraying can quickly address micronutrient deficiency as the fertilizer is directly sprayed on plant leaves. The micronutrients directly act on the plant foliage.
Key Market Trends
Liquid Fertilizer is the largest segment by Speciality Type.
The specialty fertilizer market accounted for about 15.9% of the value of the Chinese fertilizer market in 2021. There is an increasing trend in the adoption of specialty fertilizers in the country.
Controlled-release fertilizers dominated the Chinese specialty fertilizer market and accounted for 4.3% of the market value in 2021. The dominance of controlled-release fertilizers in the country is mainly due to their potential to provide nutrients for up to six months. The loss of nutrients is also very less. However, rising awareness among farmers can increase the market share of controlled-release fertilizers.
Slow-release fertilizers accounted for 2.2% of the Chinese specialty fertilizer market value and 6.2% of the market volume in 2021. Slow-release fertilizers offer a consistent supply of plant nutrients over time, less leaching, and a single application can serve the crops throughout the season.
Water-soluble fertilizers account for 45.4% of the Chinese specialty fertilizer market value and 38.9% of the market volume. Water-soluble fertilizers have no residual loss because they completely dissolve in water.
Liquid fertilizers account for 48.1% of the Chinese specialty fertilizer market value and 35.5% of the market volume. Liquid fertilizers are more easily absorbed by plants and can be used with irrigation or spraying by reducing labor costs.
Factors such as the increasing concern about the impact on the environment and the adoption of efficient fertilizers in the country are expected to drive market growth during the forecast period.
Competitive Landscape
The China Specialty Fertilizer Market is fragmented, with the top five companies occupying 15.83%. The major players in this market are Compo Expert GmbH, Henan XinlianXin Chemicals Group Company Limited, Israel Chemicals Ltd, Sociedad Química y Minera (SQM) and Yara China Limited (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
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