Wuan Fertilizer Market Size Forecast to 2030 (2023)

FAQs

What is the world fertilizer trend and outlook to 2030? ›

Fertilizer market size worldwide 2020-2030

The global fertilizer market amounted to more than 193 billion U.S. dollars in 2021, an increase of roughly 12 percent in comparison with the previous year. It is forecast that the fertilizer market will surpass 240 billion U.S. dollars by 2030.

The Indian fertilizer market was valued at INR 898.5 Billion in 2022. 2. What is the expected growth rate of the Indian fertilizer market during 2023-2028? We expect the Indian fertilizer market to exhibit a CAGR of 4.85% during 2023-2028.

"Global fertilizer production is expected to increase in 2023 with urea capacity up 2% and phosphorus production 7% higher," Cross said. "Potash production is expected to fall about 14%, but it would only be about a 5% drop compared to 2019." The other fertilizer myth is that prices are still at record-high levels.

It is forecast that the demand for nitrogen fertilizers will reach some 115 megatons by 2026.

When it came to fertilizer last year, news of shortages and skyrocketing prices affected farm operations everywhere. But, when it comes to getting a hold of the fertilizer you need for your farm this year, availability may not be the issue.

Farmers need improved access to fertilizer to avoid a food crisis, but high costs and low supply of fertilizer will continue for another year. Fertilizing the fields will be difficult in 2023.

Leading fertilizer companies globally 2022, by market capitalization. As of July 2022, Nutrien was the largest fertilizer company worldwide based on market capitalization, at 42.13 billion U.S. dollars. Wesfarmers ranked second at the time, with a market capitalization of 35.86 billion dollars.

This shortage results from various events, including the pandemic, high gas prices and the Russia-Ukraine conflict. With a supply shortage and more demand, the price has increased and fertilizer stocks are profiting.

Sector Overview

The fertilizer sector is a highly competitive industry, and many companies are competing for market share. The market has been growing steadily in recent years, but it is still relatively small compared to other industries.

In 2024, global primary nutrient sales of primary products (for both agricultural fertilizer and industrial uses) are projected at 263 Mt nutrients, for an average annual growth rate of 0.9%. This represents a downward revision of our projections from last year.

What is Fed growth forecast for 2023? ›

The core PCE inflation rate is projected by FOMC members to be 3.6% in 2023, up from 3.5% in December. The Fed has a long-term target of 2% annual inflation.

Global Urea Market Outlook. The global urea market reached a volume of 175.59 MMT in 2022 and is expected to grow at a CAGR of 0.92% between 2023 and 2028 owing to the growing agriculture sector.

Global fertilizer use is forecast to reach 208 Mt nutrients by 2025/26.

Fertilizer prices are falling after hitting records in 2022 as gas costs and farmer demand both decline.

Global fertilizer crisis

Fertilizer prices had already begun increasing in 2021 due to high energy costs and supply-chain issues. Declining natural gas prices and weak demand among farmers have eased pressures somewhat over the past few months.

Fertilizer prices have eased from their early 2022 peaks but they remain at historically elevated levels. The price easing partly reflects weak demand as farmers cut back fertilizer field applications due to affordability and availability issues.

Geographic breakdown of the Fertilizer Manufacturing in the US industry. The national Fertilizer Manufacturing industry is most heavily concentrated in Florida, Louisiana and Ohio.

Punjab consumes the highest amount of chemical fertilisers in India.

What US crops use the most fertilizer? ›

The four major crops in the U.S.—corn, cotton, soybeans, and wheat—account for about 60 percent of the principal crop acreage and receive over 60 percent of the nitrogen (N), phosphate (P), and potash (K) used in the U.S. (Daberkow and Huang, 2006).

United States imports Fertilizers primarily from: Canada ($2.77B), Russia ($442M), Qatar ($266M), Morocco ($258M), and Saudi Arabia ($211M). The fastest growing import markets in Fertilizers for United States between 2019 and 2020 were Australia ($76.5M), Jordan ($60.4M), and Lithuania ($31.1M).

United States Imports from Russia of Fertilizers was US$1.95 Billion during 2022, according to the United Nations COMTRADE database on international trade. United States Imports from Russia of Fertilizers - data, historical chart and statistics - was last updated on April of 2023.

Fertiliser stocks likely to remain in focus ahead of Budget 2023. Fertilizer stocks have been in the limelight as fertilizers prices have skyrocketed owing to the Russia-Ukraine war. According to a Business Standard report, fertilizer sales, especially of Muriate of Potash (MoP), have been severely impacted.

The current quarter's profit took a dip because of the rise in expenses and unseasonal rains. The unseasonal and excessive rains impacted the chemical as well as fertiliser sector.

History shows that on average, purchasing fertilizer in the fall rather than waiting until spring can be a good strategy for saving money and managing price variability. Over the past decade, these price savings appear to have increased, which may create more incentive for fall purchasing of fertilizer.

Which is the 3rd largest producer of fertilizer in world? ›

OCI N.V. is the third largest global nitrogen fertilizer producer. The manufacturing facilities of the company span four continents and comprise annual capacity of up to 16.1 million metric tons of nitrogen fertilizers, methanol, diesel exhaust fluid and melamine.

The world faces an “imminent crisis” in the supply of phosphate, a critical fertiliser that underpins the world's food supply, scientists have warned. Phosphate is an essential mineral for all life on Earth and is added to farmers' fields in huge quantities.

Nitrogen, phosphorus and potassium, or NPK, are the “Big 3” primary nutrients in commercial fertilizers.

For 2025, estimates of the fed-funds rate range from 2.4% to 5.7%. Their median estimate for 2025 is 3.1%, unchanged from December.

As a result, six of the seven largest economies in the world are projected to be emerging economies in 2050 led by China (1st), India (2nd) and Indonesia (4th) The US could be down to third place in the global GDP rankings while the EU27's share of world GDP could fall below 10% by 2050.

For next year and beyond, the committee members expect interest rates to return to lower levels, with the median projection for the longer run, i.e. beyond 2025, being 2.5 percent, unchanged from the December projection.

According to this data, anhydrous ammonia prices have steadily declined from $1,434 per ton on November 3^rd, 2022 to $1,237 per on February 23^rd, 2023 – a decline of $197 per ton or nearly 14% (see Figure 1).

In 2024, the demand for urea fertilizers is expected to reach 183 million metric tons.

Who is the biggest consumer of urea in the world? ›

Key facts about the urea fertilizer market

China alone accounts for some 30% of global production and demand, making it by far the world's largest producer and consumer of urea.

"Global fertilizer production is expected to increase in 2023 with urea capacity up 2% and phosphorus production 7% higher," Cross said. "Potash production is expected to fall about 14%, but it would only be about a 5% drop compared to 2019." The other fertilizer myth is that prices are still at record-high levels.

It is forecast that the demand for nitrogen fertilizers will reach some 115 megatons by 2026. Increasing crop prices lead to increased fertilizer demands and has been especially noted in recent years in South Asia. Favorable weather also increases demand for fertilizers in major agricultural regions.

2 Fertilizer Prediction: To Predict the particular fertilizer to be used , we use input parameters like N,P,K temperature, humidity,moisture and soil type and also crop to be grown. Fertilizer prediction process being with the loading the external fertilizers datasets.

In 2024, global primary nutrient sales of primary products (for both agricultural fertilizer and industrial uses) are projected at 263 Mt nutrients, for an average annual growth rate of 0.9%. This represents a downward revision of our projections from last year.

As the global population continues to increase, there is greater demand for food. This means the demand for fertilizer increases. In 1950, total fertilizer demand was estimated to be 20 million tons. By 2019 this demand increased to 190 million tons.

China is the world's largest consumer of fertilizers.

Exporters and Importers

Fertilizers are the world's 37th most traded product. In 2021, the top exporters of Fertilizers were Russia ($13.1B), China ($12.2B), Canada ($6.93B), Morocco ($5.8B), and Saudi Arabia ($4.21B).

OCP has access to more than 70% of the world's phosphate rock reserves. Initially a mining company, OCP diversified in 1965 to become a phosphate processor, making it the world's largest and leading fertilizer manufacturers. The company holds a 31% market share of the world phosphate product market.

What country produces the most phosphate fertilizer? ›

China dominated worldwide production of phosphate rock in 2022, with production amounting to 85 million metric tons.

The United States is the world's leading producer and consumer of phosphate rock, which is used to manufacture phosphate fertilizers and industrial products.

United States imports Fertilizers primarily from: Canada ($3.8B), Russia ($1.04B), Saudi Arabia ($634M), Jordan ($601M), and Qatar ($436M). The fastest growing import markets in Fertilizers for United States between 2020 and 2021 were Canada ($1.04B), Russia ($600M), and Jordan ($540M).

Earth's phosphorus is being depleted at an alarming rate. At current consumption levels, we will run out of known phosphorus reserves in around 80 years, but consumption will not stay at current levels.

Sector Overview

The fertilizer sector is a highly competitive industry, and many companies are competing for market share. The market has been growing steadily in recent years, but it is still relatively small compared to other industries.

Punjab consumes the highest amount of chemical fertilisers in India.

Fertilizer prices have eased from their early 2022 peaks but they remain at historically elevated levels. The price easing partly reflects weak demand as farmers cut back fertilizer field applications due to affordability and availability issues.