Water-soluble fertilizer is a multi-compound fertilizer that can be dissolved in water, more easily absorbed by crops, its absorption and utilization is relatively high as compared to conventional chemical fertilizers. The fixed amount of nutrient available to the plants can be easily provided by the help of this fertilizer. The technology of this fertilizer is best suited for modern irrigation system. In addition to that, it also prevents ground water contamination. These above technological advancements differentiate water soluble fertilizers from the conventional chemical fertilizers. The usage of water-soluble fertilizer application is simple. As it is well suited in advanced irrigation technology, it not only saves water and fertilizer, but also saves labor cost. Furthermore, water-soluble fertilizer has fewer impurities, has low conductivity compared to chemical fertilizers and fertilizer concentration is easier to adjust. It is also a safe chemical option for young seedlings . The major drivers of the market are its wider applications of green house, government subsidies for adoption of this technology, economic incentives with Fertigation to reduce ground water consumption and rising demand for micro-irrigation systems. The major constraints for this market are the cost of that is higher as compare to other soil fertilizers and also its negative seasonal impact and requirement of high initial setup cost. Wide scope of micro irrigation system in Asia creates opportunities for the acceptance of water soluble fertilizers.
Water soluble fertilizers Product Market Analysis:
The above mentioned product market is segmented into Nitrogen water soluble fertilizers, phosphatic water soluble fertilizers, potassic water-soluble fertilizers, bio fertilizers and bio stimulants. As nitrogenous fertilizer plays a vital role in crop growth, its ratio in fertilizer mixture is more. Therefore, maximum quantity of nitrogenous fertilizer is used as compare to other fertilizers.
Water soluble fertilizers End User Application Market Analysis:
On the basis of user application, its global market is also segmented into fertigation and foliar application. The practice of foliar application is normally limited to micronutrients; however, fertigation application can be used broadly in all nutrients. In addition to that, the usage of ferigation application is comparatively cheaper than foliar application. Therefore, fertigation application is preferable over foliar applications.
Water soluble fertilizers Geographic Market Analysis:
On the basis of geography, water soluble fertilizer market is segmented into Europe, North America, Asis Pacific and rest of the world. Due to increasing adoption rate of micro and merchandize irrigation systems in the Asia Pacific region, the demand for water soluble fertilizers is expected to increase.
Water Soluble Fertilizer high level Analysis:
This market is an emerging field of global fertilizer market. This analysis gives an overall view on global water soluble market, which is growing rapidly due to the rising demand for micro irrigation systems. Its driving and restraining factors are strategically dealt and more emphasis is given towards its wide opportunity in agrarian countries. The global market is analyzed using Porter’s five force model which assists the stakeholders to understand the bargaining power of buyer as water soluble fertilizer is highly price sensitive.
The key players dominating the mentioned market are Agrium Inc., Israel Chemical, Lowa Fertilizer, Qatar Fertilizer, Yara International, Sinochem Fertilizer Co. Ltd., Everris International B.V., Hebei Monband water Soluble Fertilizer Co. Ltd. Sinochem Fertilizer Co Ltd, with the help of the ministry of agriculture, China, is implementing the plans of cooperative scientific fertilizer application.
The global Water Soluble market is segmented based on product, end user application and geography
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MARKET BY END USER APPLICATION:
MARKET BY GEOGRAPHY: