According to the MRFR analysis,
the global Water-Soluble Fertilizers market size is projected to reach USD
37,144.16 million by 2032 at a CAGR of 7.2%. Water soluble fertilizers
are those that are completely soluble in water and are applied using foliar
spray and fertilization techniques, allowing the nutrients to be quickly
absorbed and utilized by the plant system without being lost to evaporation, leaching,
or runoff. Moreover, in addition to being rich in active organic matter like
amino acids and humic acid, water-soluble fertilizer also contains chelated trace
elements like iron, manganese, zinc, copper, calcium, magnesium, boron, and
molybdenum. In addition, water-soluble fertilizer also contains a significant
amount of elemental nitrogen, phosphorus, and potassium (regulating soil
compaction)
Water
soluble fertilizers market are fertilizers that are dissolved in water and
administered directly to the plant by drip irrigation and foliar application in
order to improve nutrient utilization efficiency. Moreover, the three crucial
plant macronutrients—nitrogen (N), phosphorus (P), and potassium, forms the
basis of water-soluble fertilizers (K). The three elements N, P, and K are the
main components of water-soluble fertilizers out of the total of sixteen
elements required to sustain plant life. N, P, and K are regarded as mobile nutrients
when applied foliarly they will travel up and down from the place of uptake and
are transferred out of the leaves to growing areas with higher demands (i.e.,
buds, younger leaves, growing roots). Furthermore, compared to other irrigation
methods like furrow irrigation or spray irrigation, the use of drip irrigation
dramatically lowers nitrous oxide (N2O) emissions. Foliar application, which
applies liquid fertilizer to the leaves rather than the soil, is a targeted
strategy since nutrients are provided directly to plant tissues at crucial
growth stages.
Segmentation
By Product Type
Nitrogenous: Nitrogenous Fertilizers are mineral
and organic materials which are utilized to provide plants with nitrogen
nourishment. They are broken down into three categories: urea, ammonium nitrate
and calcium nitrate. Moreover, nitrogenous fertilizers are utilized as a
primary fertilizer and supplemental feeding. In addition, this type of
fertilizer helps soil maintain carbon, which further helps to retain water and
ultimately reduces runoff and improves downstream water quality. Besides this,
the growing population has increased the demand for a large number of crop
production of fruits, and vegetables which has ultimately increased the demand
of nitrogenous fertilizer owing to its ability to nourish the soil and lead to
better yield of crops.
Micronutrients: Micronutrients are fertilizers that
are only needed in very small amounts, yet they are essential for a variety of
plant growth and development activities, including assisting in protein
synthesis, flowering, fruiting, and other processes. It is crucial to add
micronutrients to the soil to replenish the nutritional content since the crop
can suffer from the loss of micronutrients. Moreover, micronutrients encourage
vital plant functions and growth, which results in nutrient-dense food for both
animals and people. For growing crops, micronutrients like boron, chlorine,
copper, iron, manganese, molybdenum, and zinc are frequently in low supply.
Besides this, the recent strategies adopted by major players to expand their
product portfolio and better serve customers is likely to propel its market
growth.
Phosphatic: These fertilizers include phosphorus in
a form that is rapidly assimilated by young plants and is readily available in
neutral soils. While in alkaline and calcareous soils, water-soluble
phosphorous is transformed into insoluble calcium phosphate, soils with free
iron and aluminum hydroxy phosphates do not. Moreover, the various benefits
possessed by phosphatic are some of the key factors for its adoption by farmers
which is a vital factor in boosting its market growth. For example, phosphatic promotes
root growth and improves plant resilience such phosphorus strengthens plants
for the winter and increases their resistance to disease. Besides this, the
presence of major players across the region providing phosphatic is set to
positively influence its market growth. For example, Indorama Corporation,
provides phosphate rock which is used to make phosphate fertilizers.
Sedimentary and marine phosphate rock deposits provide over two-thirds of the
world's phosphate resources.
Potassium: Potassium is one of the essential
nutrients in commercial fertilizers. It has a significant function in boosting
agricultural yields and improving crop quality overall while aiding in
strengthening plants' disease resistance. Additionally, potassium shields the
plant from harm during cold or dry spells by bolstering its root system and
preventing wilting. Moreover, to continually increase agricultural output, it
is imperative to consume adequate potassium. The main function of potassium in
a plant is in the relationships between the plant, soil, air, and water. It
also activates several enzymes and helps transfer carbon from plant tissue to
reproductive material (grain, fruit, and fiber). The plant becomes more
vulnerable to various stresses, such as water shortage, insect pressure, and
pathogen pressure, as a result of inadequate potassium feeding.
By Field Type
Fields: A field is used to cultivate crops or other
valuable plant species. This land is heavily managed and frequently supplied
with synthetic nutrients (i.e., fertilized). In an agricultural field, only one
plant species is typically planted at a time, and other management techniques
are used to prevent the spread of weeds and pests. Field crops usually include
maize, sorghum, soyabeans, wheat, barley, cotton, potatoes, sugar beets,
sugarcane, hay, pasture and many more. Moreover, the growing production of
maize owing to its wide usage in various food items has increased the demand of
various types of water-soluble fertilizers such as nitrogen, potassium and many
more which helps keeps the plant green and healthy for photosynthesis which in
turn is contributing to its market growth.
Horticulture Crops: Horticultural crops are
utilized to improve the living environment and diversify human meals. Examples
of horticultural crops include fruits, vegetables, flowers, ornamentals, and
lawn grasses. These crops are often grown on a smaller scale and with more
intensive management than agronomic crops. Some horticultural plants are raised
for their aesthetic appeal and recreational purposes. Besides this, the growing
government investment in order to boost the horticulture sector is likely to increase
the demand as well as sales of water-soluble fertilizers in the upcoming years
which in turn would boost its market growth. For instance, in October 2022, The
Environment Secretary announced a further USD 15.04 million investment in
automation and robotics through the Farming Innovation Programme, in addition
to the more than USD 84.25 million already spent on industry-led research and
development.
By Application
Fertigation: Fertigation is the process of applying
fertilizers or nutrients through an irrigation system to an agricultural
system. The nutrient inputs are dissolved in water and then immediately
absorbed by plants when they take up water. Farmers in ancient Rome actually
used sewage to water their crops, but the name has changed greatly since then.
It is a combination of the terms "fertilizer" and
"irrigation," and it has been around as a concept for hundreds of
years. Moreover, sprinkler, drip, and soaker irrigation systems are just a few
of the irrigation techniques that can be utilized in conjunction with
fertigation, but drip irrigation is the most advantageous and compatible.
Fertigation is thought to be the most exact and regulated way to apply fertilizer
when compared to band or broadcast approaches, and it often requires less
fertilizer overall than other methods. Fertigation is also frequently used in
soilless or hydroponic growth systems because it is by far the simplest method
for giving plants in these environments the precise nourishment they require.
Foliar: Foliar is a chemical or natural substance
that is applied directly to the leaves of a plant to enhance fertility and
health. For quicker results, the plant gets the essential nutrients in this way
through its leaves. Direct fertilizer application to leaves improves leaf
activity, which directly affects the plant's water uptake and promotes root
growth. Foliar can therefore hasten the uptake of nutrients from the soil,
which is advantageous for plants that need prompt nutrient intervention. Moreover,
the composition of foliar can vary depending on the type of product chosen and
its intended use; these products are frequently created for different families
of plants to address specific nutritional deficits. An individual must follow
the manufacturer's instructions before using the product and always try it on
one or two plants before spraying throughout the entire garden because
typically, the fertilizer made for one species won't be acceptable for another.
Apart from this, foliar offers a wide range of benefits owing to which it is
widely used in agriculture purpose.
By Region
North America: The North American region includes
major markets such as the US, Canada, and Mexico. The growing production of
various types of fertilizer across the region such as potassium, ammonia,
nitrogen and many more is set to positively influence its market growth. For
instance, according to the International Fertilizer Association in 2020,
ammonia was manufactured in the United States in 36 domestic plants, and it was
transported throughout the nation by pipeline, rail, barge, and truck. The United
States produced 11.6% of the world's nitrogen in 2018, placing it second behind
China, which produced 24.6% of it, and ahead of India, the third-largest
producer with 11.3% of the world's supply. In terms of phosphate output, the
U.S. came in second place with 9.9% of worldwide production, below China
(37.7%), but ahead of India (9.8%), which generated 9.8% of the world's supply.
Canada produced the most potassium potash, accounting for 31.9% of the world's
supply. Belarus comes in second place, producing 16.5% of the world's supply.
In addition, the U.S. ranks seventh with a share of roughly 4.6% in nitrogen
exports.
Europe: Europe basically includes the UK, Germany,
France, Italy, Spain, and Rest of the Europe are all included in the analysis
of the European market. Europe continues to hold a significant share in the
global Water-Soluble Fertilizer market, owing to the presence of major players
in the region coupled with the various strategies adopted by them to expand its
product portfolio. For instance, in February 2022, EuroChem Group a leading
worldwide fertilizer manufacturer announced that, after the submission of a
legally binding bid, it has entered into an exclusive agreement to acquire the
nitrogen business of the Borealis group. In the centre of significant
crop-producing regions in Austria and France, Borealis runs fertilizer
production facilities. Borealis is one of Europe's top fertilizer
manufacturers, supplying roughly four million tonnes of products annually in
Western, Central, and South East Europe through the Borealis L.A.T distribution
network, including approximately 0.08 million tonnes of technical nitrogen
solutions and approximately 0.15 million tonnes of melamine. Apart from this,
the recent government policies regarding fertilizer are expected to positively
influence its market growth.
Asia-Pacific: Asia-Pacific is the most populated
region in the world, consisting of some of the major economies, including
China, India, Japan and others. The growing innovations by major players
operating in the region are likely to create huge opportunities for its market
growth. For instance, in October 2020, Gujarat State Fertilizer and Chemicals
India Ltd launched calcium nitrate and boronated calcium nitrate. In
agriculture, calcium nitrate is used as a water-soluble fertilizer.
Additionally, this chemical is utilized to strengthen cement concrete as well
as for wastewater treatment. Furthermore, in July 2018, Transworld Furtichem
Pvt. Ltd, a significant fertilizer manufacturer in India, and Compo Expert
Gmbh, a leading producer of specialty fertilizers for commercial use and a
portfolio company of the international private equity firm XIO Group with its
London headquarters, have agreed to a strategic partnership.
Rest of the World: The rest of the world includes
South America, the Middle East, and Africa, will witness moderate growth in the
Water-Soluble Fertilizer market in the upcoming years. This is mainly owing to
the availability of large number of fields for agriculture purpose across the
region. For instance, according to MRFR analysis, Brazil's planted area for
agricultural output grew to 86.7 million hectares in 2021, the most over the
previous ten years. This marked an increase of nearly 27% from 2011 figures.
Besides this, the recent strategies adopted by the government bodies operating
in the region to strengthen the agriculture sector is likely to boost its
market growth. For instance, in September 2019, through the signing of a
thorough Memorandum of Understanding, the African Union Commission, AUDA-NEPAD,
the African Union's Development Agency, and OCP Group, a major global
fertilizer manufacturer, are pleased to strengthen their partnership to support
the growth of the African Agricultural Sector (MoU).
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