Specialty Fertilizers Market Outlook

The Global Specialty Fertilizers Market is projected to exceed $52.74 billion by 2030, according to Renub Research. The fertilizer industry faces ongoing challenges to enhance the efficacy of its products, particularly nitrogenous fertilizers, while minimizing environmental impacts. This is achieved through the development of modern fertilizers and the introduction of specialized formulations. Specialty fertilizers are innovative nutrient sources tailored for specific soil and plant conditions, leading to improved performance, recovery, and cost-efficiency. They are designed to limit moisture exposure and release nutrients gradually over weeks or months, making them valuable for advanced fertilizer management and innovative agricultural practices like no-till farming.

Fertilizers play a crucial role in supporting the growing global population, which is expected to surpass 9.5 billion by 2050. Notably, half of all food produced globally, for both human and animal consumption, relies on fertilizers. As food demand continues to rise, farmers will increasingly depend on specialty fertilizers to boost production efficiency, enhance yields, and optimize resource inputs. These fertilizers are vital for replenishing soil nutrients consumed by plants each growing season. The three essential nutrients—nitrogen, phosphorus, and potassium—must be present in the right proportions for healthy crop production.

Recent Initiatives and Developments in Specialty Fertilizer Companies

CF Industries Holdings

• In 2023, CF Industries reported that demand for nitrogen fertilizers will remain robust through 2024, particularly from India and Brazil.
• In 2022, the company noted that the nitrogen market faced significant pressures due to the tightest global supply-demand balance in recent history.
• In 2021, CF Industries observed strong global nitrogen demand driven by the need to replenish grain stocks and the economic recovery post-pandemic.

Israel Chemicals (ICL)

• In February 2024, ICL acquired Brazilian biologicals manufacturer Nitro 1000 for approximately $30 million, expanding its product portfolio and market reach.
• In October 2022, ICL announced a $400 million investment for a lithium iron phosphate (LFP) cathode plant in St. Louis, supported by $197 million from the Bipartisan Infrastructure Law, aiming for operational startup by 2024.
• In September 2022, ICL introduced eqo.x, a new biodegradable release technology designed to enhance crop performance while reducing environmental impacts, allowing for greater nutrient efficiency and yield with less fertilizer.
• In June 2022, ICL signed a five-year agreement with India Potash Limited to supply 1 million metric tons of Polysulphate, with yearly shipments of at least 25,000 tons.
• In February 2022, ICL launched a knowledge hub to educate growers on the benefits and types of efficient fertilizers.

Yara International ASA

• On May 23, 2023, Yara International announced plans to build one of the world’s largest production facilities for specialty crop nutrition products and biostimulants, aimed at enhancing food security and addressing climate challenges.

The Mosaic Company

• In 2020, Mosaic partnered with Anuvia to develop Sus-Terra, an innovative fertilizer that enhances soil health by incorporating up to 15% recycled organic matter and 30% slow-release nitrogen.

BASF SE

• In December 2022, BASF SE and its partners released results from the sixth year of the Pragati sustainable castor bean initiative.
• BASF’s innovation pipeline spans all sectors, with a projected sales potential exceeding €7.5 billion over the next decade, focusing on advanced weed control, fungicides, and digital farming solutions.
• In 2022, BASF collaborated with Boortmalt to assist farmers in reducing CO2 emissions in malting barley production through tailored carbon farming solutions.

OCI Global

• In June 2023, OCI Global partnered with the Institute for Sustainable Process Technology to expedite the development of decarbonization technologies.
• In August 2023, OCI Global achieved ISCC Plus certification for low-carbon and renewable ammonia, essential for its eco-friendly products.

Market Growth Projections

The specialty fertilizers market is expected to register a CAGR of 6.98% from 2024 to 2030. Specialized fertilizers are designed to enhance crop yields by targeting specific growth stages and metabolic functions, addressing stress conditions in plants. These fertilizers contain essential nutrients—primary, secondary, and micronutrients—that plants need for optimal growth; around 12 key nutrients are critical for maximizing plant potential.

Specialty fertilizers differ from conventional fertilizers, such as urea and DAP, due to their specialized properties, lower standardization, and higher costs. Their unique characteristics drive demand among producers and distributors. Factors such as the need for higher crop yields, sustainable agricultural practices, and the rise of precision agriculture contribute to the market’s growth. The global specialty fertilizers market was valued at $32.89 billion in 2023.

Market Segmentation

• Urea Ammonium Nitrate (UAN) is expected to capture the largest share of the specialty fertilizers market due to its versatility and ease of application. This liquid fertilizer combines urea and ammonium nitrate, providing a balanced nitrogen source for various crops. UAN can be applied to soil or as a foliar spray, offering quick nutrient availability and improved nutrient utilization efficiency.
• The Fruits and Vegetables segment is projected to grow significantly, driven by the rising demand for organic produce and advanced farming techniques that require nutrient-rich soil. Specialty fertilizers in this category are specifically formulated to meet the nutritional needs of fruits and vegetables, enhancing growth and quality.
• The Water-Soluble Fertilizers segment is a key contributor to the specialty fertilizers market. These fertilizers dissolve easily in water and are commonly used for foliar feeding and fertigation in precision agriculture. Their low salt index and high performance make them highly sought after, and this category is expected to maintain its revenue leadership in the coming years.
• The Fertigation mode of application is anticipated to dominate the global specialty fertilizers market, reflecting the importance of precision in nutrient delivery. This method utilizes irrigation systems for fertilizer application, increasingly adopted in modern, high-efficiency farming practices.

Regional Insights

By region, the specialty fertilizers market is divided into North America (United States, Canada), Europe (including major countries like Russia, France, Germany, and the UK), Asia Pacific (notably China, India, and Japan), Latin America (Brazil, Mexico, Argentina), and Middle East & Africa (including Nigeria and Saudi Arabia).

China is expected to witness rapid growth in the specialty fertilizers market due to its diverse agricultural landscape, increasing agricultural activities, and a strong focus on sustainable farming practices. This growth highlights China’s critical role in enhancing agricultural productivity and reflects a broader trend towards innovative and environmentally conscious crop management.

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Key Players

Prominent players in the global specialty fertilizers market include CF Industries Holdings Inc., Israel Chemicals, Yara International ASA, Kingenta Ecological Engineering Group Co., Ltd., Nagarjuna Fertilizers and Chemicals Limited, The Mosaic Company, BASF SE, and OCI Global.

 

By Fertilizer Segments market has been covered from 6 viewpoints:

1. Urea-Ammonium Nitrate
2. Calcium Ammonium Nitrate
3. Monoammonium Phosphate
4. Potassium Sulfate
5. Potassium Nitrate
6. Others

 

 

By Crop market has been covered from 3 viewpoints:

1. Fruits and Vegetables
2. Commercial Crops
3. Others

 

By Type market has been covered from 4 viewpoints:

1. Water Soluble Fertilizers
2. Micronutrients
3. Controlled-release Fertilizers
4. Others

 

 

By Mode of Application market has been covered from 3 viewpoints:

1. Fertigation
2. Foliar
3. Soil

 

 

Country – This report covers the 40 countries:

1. North America

 

1.1    United States

1.2    Canada

 

2. Europe

 

2.1    Russia

2.2    France

2.3    Spain

2.4    Italy

2.5    Germany

2.6    United Kingdom

2.7    Poland

2.8    Netherlands

2.9    Ukraine

2.10    Turkey

2.11    Other European Countries

 

3. Asia-Pacific

 

3.1    China

3.2    India

3.3    Indonesia

3.4    Pakistan

3.5    Japan

3.6    Thailand

3.7    Bangladesh

3.8    Vietnam

3.9    Philippines

3.10    Korea

3.11    Malaysia

3.12    Australia

3.13    Other Asia-Pacific Countries

 

4. South America

 

4.1    Brazil

4.2    Mexico

4.3    Venezuela

4.4    Argentina

4.5    Colombia

4.6    Peru

4.7    Chile

4.8    Other South American Countries

 

5. Middle East & Africa

 

5.1    Nigeria

5.2    Egypt

5.3    Ethiopia

5.4    Kenya

5.5    Saudi Arabia

5.6    Other MEA Countries

 

 

Company Insights:

 

• Overview
• Recent Development
• Financial Insight

 

 

Companies Covered:

 

1. CF Industries Holdings Inc
2. Israel Chemicals
3. Yara International ASA
4. Kingenta Ecological Engineering Group Co., Ltd
5. Nagarjuna Fertilizers and Chemicals Limited
6. The Mosaic Company
7. BASF SE
8. OCI Global

 

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