China, India, Thailand and Indonesia to Amplify the Consumption of Asia Fertilizer market until 2017: Ken Research

The consumption of fertilizers in Asia would be boosted by easing credit availability norms for farmers, increasing knowledge among the farmers, diversification of crop production and improving fertilizer distribution facilities.

Ken ResearchKen Research

New Delhi, Delhi, January 20, 2014 /India PRwire/ -- The Asian fertilizer industry has majorly been contributed by Chinese and Indian economy during 206-2012 and these two countries remained the leading producer and consumers of fertilizer during 2006-2012. The overall Asian fertilizer market has grown at a CAGR of 3.3% over the period of 2006-2012 and the total consumption of fertilizers reached ~ thousand nutrient tons in 2012. The macro nutrient segment which comprises of nitrogen, phosphate and potash fertilizers has mainly been driven by the nitrogen fertilizers which comprised of more than half of the overall nitrogen market in most of the Asian economies particularly in East and South East Asia.

Though China has been the leading contributor to Asian fertilizer industry during 2006-2012 and will continue to be so even in the future years 2013-2017, the fastest growing fertilizer industry has been of Thailand which has grown at a CAGR of 7.5% during 2006-2012. In the coming years 2013-2017, Thailand would witness the fastest growing CAGR of 10.6% during 2012-2017 as compared to the other Asian countries. This is largely because of the fact that as compared to other global average, the fertilizer application rate in Thailand has historically been low. However as the farmers gained knowledge and awareness, the consumption rate in the country has increased. The fastest growing segment in the Thailand fertilizer industry boosting the overall consumption of fertilizers has been the potash fertilizers which grew at a CAGR of 11.5% during 2006-2012. The fertilizer industry of China is fragmented and has seen a lot of players producing nitrogen and phosphate fertilizers. Only few players such as Sinofert and Migao have been the leading players in the potash fertilizer market. India too has been a fragmented market with IFFCO being the leading player in the country and having a share of around ~% in the overall fertilizer market on the basis of revenue in 2012.

"The Asian fertilizer industry has largely been boosted by the changing and interconnected aspects such as economic growth, population, growth of agriculture sector, government policies, prices and production. Asia accounts for almost 50.0% to 60.0% of the total world nutrient use and about 40.0% of the world's crop land." - According to the research report 'Asia Fertilizer Industry Outlook to 2017' by Ken Research.

In the coming years, the leading contributing segments would continue to be China and India with share of ~% and ~% in 2012 in the Asia fertilizer industry in 2017. However these markets would driven by growth in organic and micro nutrient fertilizers as they have optimum consumption levels have been achieved in segments such as nitrogen and phosphate. However countries such as Indonesia, Thailand and Vietnam would continue to be driven by the greater usage of chemical fertilizers particularly phosphate and potash in order to achieve balanced fertilization. The overall fertilizer industry of Asia would grow at a CAGR of 6.1% during 2012-2017.

The report provides detailed overview on the fertilizer market in Asia and help reader to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, fertilizer companies and marketing companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.

Notes to Editor

For More Details Please Click On Following Link: http://www.kenresearch.com/agriculture-food-beverages/agriculture-industry/asia-fertilizer-market-research-report/447-104.html


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