Water soluble NPK fertilizers are the awesome nursery plants. Solvent manures are effectively consumed by the dirt. These are regularly sold in shower shape and can even be added straightforwardly to the nursery. These will in general be somewhat more costly than different kinds of manures yet they will improve occupation of keeping the dirt sound. One of the advantages of utilizing water soluble NPK fertilizers over others is that they will in general make a superior showing of separating natural matter in the dirt, this makes the dirt a lot better and will assist the supplements with getting where they need to go to be utilized by your plants.
Market Dynamics
The main factor influencing the water soluble NPK fertilizers market is the increasing demand for crops with high-value produces. The increasing requirement to use specialty fertilizers is expected to augment the market growth. Moreover, the increasing population in several emerging nations and underdeveloped nations has raised severe concerns related to food security and existing food production issues. For instance, according to data by the United Nations, the estimated population of China in 2020 was 1,439,323,776, which accounts for 18.47% of the gross global population. China ranks first on the world population list. With such an extensive population rate, increased production of food is very necessary. Hence agricultural sectors are using wider amounts of water soluble NPK fertilizers to ramp up the yield. This is expected to propel the growth of water soluble NPK fertilizers market.
However, the high price of these water soluble NPK fertilizers is the main restraining factor that hinders market growth.
This market is distributed in five regions that include North America, Europe, Asia-Pacific, Africa, and Middle East, and Latin America. Among these Asia- Pacific is expected to hold a significant share of the water soluble NPK fertilizer market owing to the limited water resources and degrading arable land in the agrarian economies of the regions such as India and China. For instance, according to the Indian Council of Agricultural Research, there are currently 394.6 million acres of arable land in the region. Moreover, government initiatives and heavy investments for the betterment of agriculture are expected to boost the growth of the water soluble NPK fertilizer market in this region.
Competitive Analysis
Key players operating in the global water soluble NPK fertilizers market include Yara International ASA, Indian Farmers Fertiliser Cooperative Limited, The Mosaic Company, SQM S.A., Sichuan Guoguang Agrochemical, PT Petrokimia Gresik, OMEX, PhosAgro Group, K+S Aktiegesellschaft, Israel Chemicals Limited, Uralchem Group, Hebei Monband Water Soluble Fertilizer Co. Ltd., Haifa Chemicals Ltd., Eurochem Group, Coromandel International Limited, Compo Expert GmbH, Arab Potash Company, and Acron Group.
In January 2020, Gujarat Agro Industries Corporation (GAIC) introduced WSF products. Liek wise in December 2019, Van Iperen International tightened its product like in the fertilizer market of the U.S. along with its subsidiary.
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