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 .