The
report titled “Asia Complex (NPK)
Fertilizer Market Outlook to 2022 – by Grade (NPK 16-16-8, NPK 20-20-15, NPK
15-15-15, NPK 20-20-0 and Others), by Region (China, India, Vietnam, Indonesia,
Thailand and Others)” by Ken Research suggested complex fertilizer production in
Asia is expected to grow at a CAGR of 3.1% during 2018-2022, whereas
consumption of complex
fertilizers is expected to incline at a CAGR of 1.9% during the same
period.
The nutrient imbalance in Asian countries has
drastically increased as a result of overuse of urea which makes the soil
acidic. For instance, the ideal N:P:K nutrient balance for Indian soil is 4:2:1
while the actual ratio was 6.8:2.7:1 at the end of FY’2017. With rising
government focus on improving soil health, consumption of complex fertilizers is expected to grow at a faster pace than straight /
conventional fertilizers. This highlights enormous potential for NPK complexes going
forward.
Water
soluble complex fertilizers are becoming increasingly popular with the growth
in micro irrigation (drip and sprinkler based irrigation) sector. Several
companies including Kingenta, Hubei Xinyangfeng, China XLX Fertiliser, IFFCO,
Rashtriya Chemicals and Fertilizers Limited, Sitto Vietnam and many more have
ventured into producing 100% water soluble complex fertilizers. Such
fertilizers have been increasingly used in the Asian market in the last few
years.
As per reports,
Chinese government has agreed on lowering export tariff on complex fertilizers,
reducing from current 30% export duty to CNY 100 (USD 15.14) per MT in 2018.
Lowering of export duty in China, highest complex fertilizer producing nation
in the world, is expected to boost complex fertilizer production and exports into
other Asian countries which in turn will positively impact the Asia complex
fertilizers market in the mid-long term
Furthermore, anticipated
rise in international market prices of key raw materials including Urea, DAP
and MAP would augment the market for complex fertilizers. Planned capacity
expansion and rising demand for complex fertilizers due to ever increasing food
demand in Asian subcontinent and heightened need to improve crop yield will
drive the market growth in the near future.
Kingenta,
Coromandel International, Binh Dien Fertilizer, Petrokimia Gresik and Thai
Central Chemicals will remain the major players in this space in China, India,
Vietnam, Indonesia and Thailand respectively.
Key
Topics covered in the report:-
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Asia Complex Fertilizer Consumption
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Asia Complex Fertilizer Production
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Asia Complex Fertilizer Market
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Asia Granulated NPK Consumption
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Asia Blended NPK Consumption
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Asia NPK Fertilizer Demand
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Asia NPK Fertilizer Consumption
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Asia NPK Fertilizer Production
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Asia NPK Fertilizer Market
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NPK Fertilizer Demand
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Spending Water Soluble Fertilizer Asia
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Competition in Complex Fertilizer Market
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Country Growth Complex Fertilizer
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Statistics Growth Complex Fertilizer
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Future Forecast Complex Fertilizer
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Spending Water Soluble Fertilizer Asia Market growth
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Spending Water Soluble Fertilizer Asia Market Strategy
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Country Growth Complex Fertilizer market Trend
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Country Growth Complex Fertilizer market Analysis
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Country Growth Complex Fertilizer Statistics
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Market Competition in Spending Water Soluble Fertilizer
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NPK Country Growth Complex Fertilizer Market Trends
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NPK Country Growth Complex Fertilizer Market Demand
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NPK Spending Water Soluble Fertilizer Asia Market Strategy
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NPK Fertilizer Demand Market Strategy
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NPK Fertilizer Demand Market Growth
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For
more information on the research report, refer to below link:
Related
Reports by Ken Research
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com
+91-9015378249
