The Need for High-efficiency Fertilizers to Drive the Specialty Fertilizers Market Growth

Specialty Fertilizers Market by Type (UAN, CAN, MAP, Potassium Sulfate, and Potassium Nitrate), Application Method (Soil, Foliar, and Fertigation), Form (Dry and Liquid), Crop Type, Technology, and Region - Global Forecast to 2025

(EMAILWIRE.COM, September 30, 2020 ) The specialty fertilizers market is estimated to account for a value of USD 37.6 billion in 2020 and is projected to grow at a CAGR of 6.4% from 2020, to reach a value of USD 51.3 billion by 2025. The increase in demand for enhanced high-efficiency fertilizers, ease of use and application of specialty fertilizers, and adoption of precision farming and protected agriculture are some of the factors that are projected to drive the growth of the market.

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Nutrient losses can occur in many ways, such as leaching, runoff, atmospheric losses, and direct loss. These nutrient losses will have an extensive impact on the environment. These nutrient losses into the water trigger eutrophication on the surfaces of water bodies, which, in turn, ruins the aquatic ecosystem. Specialty fertilizers are an easy and efficient way to supply household or garden plants with nutrients on a regular basis. The ultimate goal of adding specialty fertilizers to the soil is to supply the requisite amount of nutrients to crops and prevent the toxification of soil due to over-fertilization.

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Key players in this market include Nutrien, Ltd. (Canada), Yara International ASA (Norway), Israel Chemical Ltd. (Israel), K+S Aktiengesellschaft (Germany), Sociedad Química y Minera de Chile (SQM) (Chile), The Mosaic Company (US), and EuroChem Group (Switzerland). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities, along with strong distribution networks across these regions.

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