Water-soluble fertilizer market is growing to improve agriculture in water-stressed areas and rising demand for fertigation would boost the Industry share.
NEW YORK CITY, NEW YORK, UNITED STATES, May 7, 2022 /EINPresswire.com/ — The Latest Insights by Reports and Data on the Water-soluble Fertilizer market offers an extensive analysis of the trends to estimate its growth in the near future. It provides historical investigation and evaluates the trends observed in the data gathered to speculate the development in its size, share, demand, total earnings, and revenue. It considers the years 2018 and 2020 to collect historical data while considering 2021 as the base year to draw a forecast for the years 2022 to 2028. This assessment indicates a stable CAGR in the predicted duration and discusses those sectors that might boost the development of the industry.
Compound specialized fertilizers that can be entirely dissolved in water and easily applied to or leached out of the soil are known as water-soluble fertilizers. These fertilizers can enhance utilization rate as the combination of water and fertilizer saves both, as well as labor. They provide a large number of advantages over traditional fertilizers, such as increased crop production and soil nutrient availability. Farmers are set to utilize fertilizers more effectively as a result of technological improvements in the mode of application. Research and development activities are currently being undertaken in the fields of fertigation & foliar methods, since these approaches can maintain appropriate fertilizer flow and reduce the danger of excessive use in certain regions.
The water-soluble fertilizer market size was significantly large in 2020, and is expected to continue to register a rapidly inclining revenue CAGR between 2021 and 2028. Increased use of advanced agricultural methods and rising demand for vegetables, fruits, and other high-value crops with surging nutritional quality are some of the key factors expected to drive market revenue growth over the forecast period.
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Major companies profiled in the global market report include – SQM, ICL, Haifa Chemicals Limited, COMPO Qatar Fertilizer Company, EuroChem, Coromandel International Limited, Yara International, Nutrien Ltd., EXPERT, and The Mosaic Company.
Global Water-soluble Fertilizer Market Key Drivers:
Over the projected timeframe, the global water-soluble fertilizer industry is predicted to expand due to lack of arable land. This is mainly happening because of rapidly rising population and industrial expansion. Another factor projected to boost market expansion during the projected timeline is the use of advanced agricultural practices. Besides, the global water-soluble fertilizer market is predicted to grow over the forecast timeline, owing to the high crop yield and ease of application. These are often achieved with the usage of water-soluble fertilizers. At the same time, with increasing water scarcity across the globe, particularly in the Middle East and Africa, water-soluble fertilizer industry participants are likely to gain substantial prospects. Coupled with this, advancements in irrigation systems and spray application equipment would also contribute to growth. Thus, growing need to improve agriculture in water-stressed areas and rising demand for fertigation would boost the water-soluble fertilizer market share.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of “in silico” simulations. Companies’ existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
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COVID 19 Impact Analysis
The global water-soluble fertilizer market report offers information and expansive coverage of the current scenario in the market, including impact and changes resulting from the COVID-19 pandemic and emergence of variants of the virus.
The virus outbreak and social distancing norms and restrictions severely disrupted the overall business landscape and operations worldwide.
Both negative and positive impacts of the COVID-19 pandemic have been analyzed and details provided in the report.
COVID-19 pandemic and lockdowns have resulted in several countries shutting down airports, ports, and commercial and domestic transportation. This had impacted manufacturing activities and operations globally and took a toll on the economy of various countries.
Complete country-wide lockdowns and partial lockdowns had major impact on demand-side and supply-side on the manufacturing sector.
Sudden and drastic downturn in economic activity caused a slowdown in production and also resulted in employment loss to a major extent.
Supply impacts were further compounded due to challenges on the demand-side owing to reduced disposable income, depleting savings, and increased concerns and uncertainties.
The initial impact of the second wave hit small businesses and retailers the hardest owing to liquidity crunches and stretched working capital.
Healthcare infrastructure also bore major brunt of the results as systemic issues resulted in inability to accommodate patients and shortage of crucial supplies and medical equipment.
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Type Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
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Regional Outlook (Revenue, USD Billion; Volume, Million Tons, 2018-2028)
Middle East & Africa
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