Complex Fertilizers Market Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

 

Complex Fertilizers Market
Complex Fertilizers Market

By combining two or more types of macro-nutrient fertilisers, complex fertilisers (also known as compound fertilisers) are created. These fertilisers can also be combined with substances known as trace or secondary nutrients, like calcium, magnesium, and sulphur, which give plants nutrients. Granular fertilisers can be used to distribute and package complex fertilisers.

Due to its high nutritional content, the market for complex fertilisers worldwide is expanding. The complex fertilisers offer a number of advantages related to economic savings and field convenience. Additionally, the global market for complex fertilisers is expanding due to the greenhouse industry's explosive growth. The growing demand for food as a result of the rising population and the scarcity of arable land have both contributed to the expansion of the world's complex fertiliser market.

Over the forecast period, the Complex Fertilizers Market is anticipated to grow due to rising demand for nutrient-specific fertilisers and the need for high crop yields for the production of biofuel. For instance, in order to increase the industry's value to US$ 7.5 billion by 2022, the Indian biofuels industry invested US$ 2.25 billion in upcoming projects in 2020.

The emergence of the new COVID strain has had a negative impact on the health care system in many developed and developing nations. There is a shortage of hospital personnel, medications, oxygen beds, and ventilators. Disruptions in supply chains are causing problems in production processes across many nations. The market for complex fertilisers globally has been negatively impacted by this.

One of the main factors hindering the growth of the global Complex Fertilizers Market is the rising trend towards the adoption of organic fertiliser. Over 50.9 million hectares of land were used for organic agricultural activities in 2020, according to a report by the Research Institute of Organic Agriculture (FiBL).

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