Ken Research - Asia Complex Fertilizer Market Research Data | Page 2

China is almost self sufficient to meet the demand of compound fertilizer in the country. It has
considerable natural reserves of raw materials utilized for production of compound fertilizers.
Complex fertilizers worth USD ~ million were sold in the country in 2017 as compared to USD
~ million in 2012, representing growth at a CAGR of ~ during the period 2012-2017. The market
witnessed a slowdown in revenue growth during the last two years due to decline in price of
complex fertilizers in the country. Consumption of complex fertilizers grew at a CAGR of ~%
during the period 2012-2017, rising from ~ million MT in 2012 to ~ million MT in 2017.
China complex fertilizer market is highly competitive and quite concentrated with top 4 players
occupying about ~% of the market share, in terms of revenue in 2017. In terms of complex
fertilizer production, the top 4 players accounted for about ~% of market share as of 2017.
Kingenta was the market leader and comprised for ~% market share in 2017, in terms of
revenue. Hubei Xinyangfeng emerged as the second largest player in this space and comprised
for ~% market in 2017. Other prominent players included China XLX Fertilizers and Sino-Arab
Chemical Fertilizers which comprised for market shares of ~% and ~%, respectively.
Consumption of complex fertilizers in China is expected to grow at a slower pace during the
period 2018-2022. As per reports, Chinese government has agreed on lowering export tariff on
complex fertilizers, reducing from current 30% export duty to CNY 100 (USD 15.14) per MT in
2018. This is expected to significantly boost exports of complex fertilizers from China 2018
onwards. Hence, production of complex fertilizers is expected to grow at healthy CAGR of ~%
during 2017-2022. Complex fertilizers market is anticipated to be worth USD ~ million by 2022
rising from USD ~ million in 2018.
The agriculture and fertilizer sector in India is highly dependent on monsoons. India has
limited amount of rock phosphate of low grade which can only be utilized for production of
SSP. The fertilizer industry is highly regulated and monitored by the Government of India. The
complex fertilizer market declined at a CAGR of ~% during the period FY’2012-FY’2017 from
USD ~ million in FY’2012 to USD ~ million in FY’2017. This was majorly due to decontrol of
fertilizer prices by the Indian government except for Urea, which augment the demand for Urea
and had a negative effect on sale of complex fertilizers. Furthermore, drought like situation in
during FY’2013-FY’2014, adversely impacted fertilizer sales in the industry as a whole.
Monsoon, on which a major part of agriculture depends, was erratic and inconsistent which led
to condensed demand for complex fertilizers in FY’2017. Consumption of complex fertilizers
declined at a CAGR of ~% during the period FY’2012-FY’2017, whereas, production grew
marginally at a CAGR of ~% during FY’2012-FY’2017.