Global Dry Fertilizer Market Size (2024 – 2030)

The global Dry Fertilizer Market size was USD 191.4 billion in 2023 and is estimated to grow to USD 258.94 billion by 2030. This market is witnessing a healthy CAGR of 3.85% from 2024 - 2030. Growing usage of organic fertilizers and regular research and development in the sector are majorly driving the growth of the industry.

Industry Overview:

Dry fertilizers are normally designed to be amended into the soil and released to the plants over time. With this capability, the grower can combine the fertilizer into the soil (at the cautioned rate) and the fertilizer will be accessible to the flowers over a certain period of time.

Natural and artificial fertilizers are used to plant tissues or soil to provide one or extra nutrients to plants that are required for their growth. Increasing demand for more desirable soil vitamins coupled with increased crop yield is predicted to further amplify the demand for fertilizers over the forecast period. Growing penetration of organic fertilizers is predicted to encourage farmers to use fertilizers extra effectively and safely.

The worldwide agricultural industry is confronted with numerous issues. According to the United Nations, with the aid of 2050, the world population will have surpassed 9 billion people. This will put a lot of pressure on the agricultural business, which is already struggling from a loss of productivity due to manpower shortages and the shrinkage of agricultural fields as a result of fast urbanization. According to the Food and Agriculture Organization, more than 70% of the world's population will live in cities with aid by 2050. Farmers are being pressured to use fertilizers to beautify their agricultural output due to a loss of arable land throughout the globe. Nitrogen is some of the crucial nutrients necessary for the growth of plants. It is naturally accessible in the atmosphere, although, very few florae are capable to soak up it. Thus, it is synthetically supplied to the vegetation in the structure of nitrogenous fertilizers. The product is offered in the international market in more than a few types including calcium ammonium nitrate, ammonium sulfate, ammonia, and others, with exceptional proportions of the nutrient values. The aforementioned merchandise assists to adjust the boom of the plants for quicker yield and also supply a better texture.

COVID-19 impact on Dry Fertilizer Market

Since the outbreak of COVID-19, the fertilizer industry has been considerably impacted in many components of the world. During the initial lockdown, shipments were disrupted due to labor scarcity and the closure of a few fertilizer plant life located in integrated chemical complexes.

China, as the pandemic's epicenter, used to be severely impacted at first. However, the country's prerequisites have stabilized, and fertilizer production costs have accelerated throughout the board. As a result, the ordinary effect of COVID-19 on the fertilizer industry is viewed as moderate.

Travel restrictions resulted in fertilizer stockpiling. Hubei, a Chinese province, is the leading producer of phosphoric acid and phosphate.

MARKET DRIVERS:

The growing uptake of Organic Fertilizer is driving the growth of the Market

The agriculture industry is limiting the use of chemical fertilizers and is steadily embracing natural and biofertilizers globally to motivate no longer solely plant increase but also soil health. These are also referred to as "soil conditioners" made from plant or animal waste due to their capability to maintain water and nutrients for a long time. In addition, natural fertilizers are much less harmful, quickly decomposed, reusable, secure, and environmentally pleasant, and can be stored for a longer duration of time due to their capability to stand up to temperatures of up to forty-five stages Celsius or more.

Regular research and development in this sector will increase the market growth

Major fertilizer suppliers are growing their R&D spending due to stringent regulations and product complexities considering that sales of fertilizer products vary depending on the climatic conditions and crop variance. In addition, main suppliers are introducing more recent technologies at their production plants in order to make bigger capacity and limit manufacturing costs.

MARKET RESTRAINTS:

High cost related to the products is restraining the growth of the market

The fertilizer prices of all three, inclusive of ammonia, DAP, and potash, accelerated on the back of tight grants and strong demand in 2018 over unique periods. In the 1/3 quarter of 2018, the expenditures of ammonia elevated at the return of countless plant changes, ensuing in a tight supply. Further, potash fees remained firm in the second quarter of 2019 on the lower back of commonly provided tightness. The current scenario of fertilizers had indicated higher fees in 2019 as the production costs of ammonia, DAP and potash have accelerated 2019.

Dry Fertilizer Market Report Coverage:

This research report on the global Dry Fertilizer Market has been segmented and sub-segmented based on Product, application, and region.

Dry Fertilizer Market - By Product:

• Urea
• Methylene Urea
• Ammonium Nitrate
• Ammonium Sulfate
• Ammonia
• Calcium Ammonium Nitrate
• Others 

Based on the product, The ammonia product section stood in the second position in 2021 accounting for around 18% of the revenue share. The boom is attributed to higher leaching loss resistance and incredible solubility. Ammonia is an essential pillar of the nitrogen-based fertilizer industry as it has higher nitrogen content as compared to any other industrial counterparts. It can be either applied at once as a plant nutrient to the soil or can be converted to different sorts of nitrogen fertilizers. Other segments of the market consist of ammonium sulfate nitrate, calcium nitrate, and amide fertilizers (diammonium phosphate, calcium cyanamide, etc.). Nitrogen in the calcium nitrate is current in the structure of nitrate as it is produced by means of the reaction of overwhelmed limestone and nitric acid. Amide fertilizers are water-soluble and decompose without difficulty in the soil.

The urea product segment accounted for the best share of over 33% in terms of revenue in 2021. The nitrogenous fertilizer market growth is attributed to the presence of a higher quantity of nitrogen and decreased expenses of urea. Urea is considered the most indispensable nitrogenous fertilizer as the nitrogen content material in it is very high that is 46%. Significant quantities of ammonia would possibly get misplaced due to the urea volatilization brought about through its rapid hydrolysis thereby forming ammonium carbonate. If massive portions of urea are positioned close to seeds, it can lead to ammonia harm to the seedlings due to Rapid hydrolysis of urea. Hence, it is crucial to vicinity the urea fertilizers top with respect to the seeds.

Dry Fertilizer Market - By Application:

• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Others  

Based on application, The oilseeds & pulses held the second position in the utility phase and is anticipated to attain a CAGR of 5.6% throughout the forecast length in terms of revenue. The boom is attributed to the requirement of improving the share of germination of seeds and also obtaining dense pulse canopies. Oilseeds & pulses are integral vegetation that supply day-to-day requirements of integral proteins, vitamins, and minerals in humans. Other purposes consist of fiber plants and ornamental plants. Nitrogenous fertilizers are applied for advertising the growth of fiber flora and decorative plants. Overfertilization of this flora can be averted using slow-release formulations of the product so that nitrogen gets released slowly and is utilized by plant life at maximum levels. The cereals & grains segment held the very best revenue share of over 44% in 2021. The growth is attributed to the most care required via cereals & grains vegetation for producing greater yields and generating greater profitability for the farmers and the average agriculture industry. Products such as urea, ammonium nitrate, and anhydrous ammonia are chosen for cereals & grains as the quantity required for this merchandise is lesser to make certain the adequate nitrogen furnish wished for the most effective boom of the plants.

Dry Fertilizer Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East
• Africa

Geographically, Europe held the third function in the regional phase in 2021 in phrases of income and is anticipated to make bigger with a CAGR of 6.3% in the near future. The growth is attributed to the vast landmass occupied by means of grasslands and agriculture in the region. The location imports nitrate-based fertilizers from Russia, Egypt, and Algeria whilst phosphate-based products are broadly speaking sourced from Morocco. Compounds of NPK are on the whole imported from Norway and Russia. Asia Pacific area held the best possible share higher than 65% in terms of income in 2021. The growth is attributed to a larger on-hand area for cultivation, favorable local weather conditions, and a greater rural population. Major multinational producers of nitrogenous fertilizers are setting up their manufacturing gadgets in nations of Asia owing to growing demand and a growing focus on meal security. China is the biggest patron of the product across the globe and acquires around one-third of the standard international product consumption. These fertilizers play an integral role to preserve meal protection in China with the aid of allowing a larger growth in each non-grain and grain yield. Barley, rice, soybeans, potatoes, tea, wheat, millets, tomatoes, cotton, and peanuts are some of the key meal plants cultivated in the country.

Dry Fertilizer Market Share by company:

1. CF Industries Holdings
2. GÜBRETA
3. Indian Farmers Fertiliser Cooperative Limited (IFFCO)
4. Haifa Group
5. Syngenta AG
6. Unikeyterra
7. SQM S.A
8. Yara International ASA
9. Sumitomo Chemical Co Ltd
10. Gemlik Fertilizer
11. Israel Chemicals Ltd. (ICL)
12. Bunge Limited, Inc
13. Nutrien Ltd

Recently CF Industries Holdings, Inc. has declared a large investment of around USD 41.4 Million for enhancing nitric acid production at the biggest nitrogen fertilizer facility across the globe located in Donaldsonville, Louisiana.

Haifa Group added 8,000 MTPA production capacity to its fertilizer production facility in France. The corporation was able to boost its production capacity by up to 24,000 MTPA thanks to this method.

Companies are regularly producing new products which are going to be a big thing in the market in upcoming years.

NOTABLE HAPPENINGS IN THE GLOBAL DRY FERTILIZER MARKET IN THE RECENT PAST:

• Acquisition - In April 2020 Huber Engineered Materials acquired Miller Chemical & Fertilizer, LLC. Miller manufacures and distributes crop protection and nutritional agrichemical products designed to improve plant and crop production quality and yield.
• Acquisition - In 2020, Yara International has acquired Agronomic Technology Corp (ATC). The acquisition has expanded the product portfolio of Yara International as well as strengthened its global presence.