India complex fertilizer market is highly competitive and concentrated with top 5 players comprising for over ~% of the market share, in terms of revenue in FY’ 2017. In terms of complex fertilizer production, the top 5 players accounted for about ~% of market share as of FY’ 2017. There are about 13 companies( 3 public, 1 cooperative and 9 private companies) engaged in the production of complex fertilizer in India.
Coromandel international was the market leader and comprised for ~% market share in FY’ 2017, in terms of revenue. IFFCO emerged as the second largest player in this space and comprised for ~% market in 2017. Other prominent players included Paradeep Phosphates, Rashtriya Chemicals and Fertilizers Limited, Fertilizers and Chemicals Travancore, Gujarat State Fertilizers & Chemicals Limited and Gujarat Narmada Valley Fertilizers & Chemicals Limited. Tata Chemicals Limited( TCL), Coromandel International and Zuari Fertilisers and Chemicals Limited are the only companies known to have invested and established blending plant facilities for customized NPK production. However, the production capacities of these plants are very small and farmers are reluctant in experimenting new grades of NPKs.
Agriculture is a key sector in Vietnam’ s economy; more than 70 % of the country population consists of farmers. Vietnam is dependent on imports for manufacturing of complex fertilizers as it lacks potash reserves. NPK fertilizers comprised for the largest share in overall fertilizer sector by accounting for around ~% of the overall fertilizer demand in 2017. Existence of a number of small scale complex fertilizer manufacturers has resulted in diverse quality of complex fertilizers found in the country. The average selling price of NPK is ~% higher than the selling price of Urea.
Consumption of complex fertilizers grew at a CAGR of ~% during the period 2012-2017, whereas, production grew at a CAGR of ~% during the same period. Complex fertilizers market witnessed growth at a CAGR of ~% during 2012-2017, inclining from USD ~ million in 2012 to USD ~ million in 2017. During 2017, the demand for complex fertilizers witnessed a rise due to favorable weather and land conditions.
Complex fertilizers in Vietnam were largely utilized for cultivation of cereals, with cereals accounting for about ~% of overall complex fertilizer consumption in 2017.
Vietnam’ s complex fertilizer market is relatively competitive with more than 20 major NPK producers and hundreds of spontaneous companies. Binh Dien Fertilizer was the largest player in this space and comprised for ~% market share in overall complex fertilizer market in Vietnam in 2017, in terms of revenue.