NPK is collective term utilized for fertilizers containing two or three fertilizer macronutrients that can cover several scores of formulation and distinctly different process types. These fertilizers help to increase the nutrient & water use efficiency and reduce application costs. In addition, their use increases crop quality and yields.
Increase in demand for high-efficiency fertilizers, rise in adoption of precision farming, ease of use & application, and enhanced crop protection provided by NPK fertilizers are major factors that drive the market growth. In addition, surge in demand for NPK fertilizers has increased the overall agricultural output to meet the global food requirements, which fuels the market growth. However, problems in supply cycle, fluctuating storage & handling costs, inadequate knowledge among the farmers, and stringent regulatory framework associated with their production & use are some factors that limit market growth. Increase in adoption of NPK fertilizers in emerging economies is anticipated to provide lucrative opportunities for the market growth.
The report segments the NPK market on the basis of production route, mode of application, crop, and geography. Based on production route, the market is categorized into nitrophosphate, phosphoric acid, granulation of solids, and compaction. According to mode of application, it is classified into soil, foliar, fertigation, and others. By crop, it is divided into cereals & grains, fruits & vegetables, oilseeds & pulses, and others (plantation and cash crops). Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive competitive analysis and profiles of major market players provided in the report are as follows:
- Acron Group
- Compo Expert GmbH
- EuroChem Agro GmbH
- Haifa Chemicals Ltd.
- Helena Chemical Co.
- Helm AG
- Israel Chemical Ltd.
- Shandong Liaocheng Luxi Chemical Sale Co., Ltd.
- Yara International ASA
- This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global NPK market to identify the prevailing market opportunities.
- Major countries in each region are mapped according to individual market revenue.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- An in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.
- Key players and their key developments in the recent years are listed.
NPK Market Key Segments:
By Production Route
- Phosphoric Acid
- Granulation of Solids
By Mode of Application
- Others (Aerial and Starter Solutions)
- Cereals & Grains
- Fruits & Vegetables
- Oilseeds & Pulses
- Others (Plantation and Cash Crops)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA