Compound Fertilizer Market: Has witnessed significant growth

A compound fertilizer contains two or more vital plant nutrients. It also contains secondary nutrients and trace elements. The compound can either be organic or inorganic. The organic compounds in this fertilizer accounts to fish, bone meal, manure, and compost. On the other hand, the inorganic part of this fertilizers accounts to the combination of various chemicals in the manufacturing process.

The essential plant nutrients comprise of phosphorus, nitrogen, and potassium, which are very essential and are required for plants to complete their life cycle. Whereas, the secondary nutrients that are required for the plant growth are sulfur, calcium, and magnesium. The secondary nutrients are present in the soil but it also needs to be replenished periodically. The trace elements may be added, such as boron, copper, and cobalt.

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The global compound fertilizer market has witnessed significant growth owing to the requirement to increase productivity and to optimize the yield & fertilizer intensity gap across regions. In addition, rise in awareness about soil profile and nutritional balance further propels the growth of the compound fertilizer market. However, the increase in trend of nitrogenous fertilizers may restrict the growth of this market. The compound fertilizer market is expected to witness numerous growth opportunities, owing to increase in investment in agricultural sector, especially in Africa.

The global compound fertilizer market can be segmented on the basis of type, application, and region. On the basis of type, the global compound fertilizer market can be segmented into two-element compound fertilizer and three-element compound fertilizer. On the basis of applications, the global compound fertilizer market can be segmented into rice, wheat, corn, fruit trees, vegetables, tobacco, and others. On the basis of region, the global compound fertilizer market can be segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and Latin America.

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Some of the key players in the global compound fertilizer market include Alberta Corporation, Hanfeng Evergreen Inc., Hubei Xinyangfeng Fertilizer Co., Ltd., Kingenta Ecological Engineering Co., Ltd., Luxi Group Co., Ltd., Sinochem Group, Stanley Fertilizer Co., Ltd., The Mosaic Company, Wengfu (Group) Co., Ltd. and Yara UK Limited.

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