Ken Research - Asia Complex Fertilizer Market Research Data

Asia Complex Fertilizer Market Research Data
Asian countries are behind US and European countries in terms of achieving agricultural crop
yield. The focus on improving crop yields has driven the demand for complex fertilizers in the
Asian subcontinent over the past decade. Asia complex fertilizer market registered moderate
growth during 2012-2017, growing at a CAGR of ~%, to register revenues worth USD ~ billion
in 2017 as compared to USD ~ billion in 2012. Moderate growth was due to decline in
consumption of complex fertilizers in certain key territories and slump in price of complex
fertilizers, driven by decline in cost of raw materials in international markets. Overall, complex
fertilizer production in Asia grew at a CAGR of ~% during 2012-2017, whereas consumption of
complex fertilizers grew at a CAGR of ~% during the same period.
India ranked second and comprised for ~% of the market share in 2017. Vietnam, Indonesia and
Thailand were other major countries utilizing complex fertilizers in Asia and accounted for ~%,
~% and ~% market share respectively in 2017. All other Asian countries together comprised for
remaining ~% of the market.
NPK 16-16-8 was the most widely used complex fertilizer in Asia and accounted for ~% market
share in overall complex fertilizer market in 2017. NPK 20-20-15 was the next popularly used
fertilizer grade and comprised for ~% market share in 2017. NPK 15-15-15 and NPK 20-20-0
were other popularly used complex fertilizers which comprised for ~% and ~% market share
respectively in 2017. All other grades/formulas of complex fertilizers together comprised for
about ~% of the market share in 2017.
China is the largest producer and consumer of complex/compound fertilizers in the world. The
complex NPK fertilizer industry in China is large and has grown steadily in the last decade.