DUBLIN--(BUSINESS WIRE)--The "China Fertilizers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The China Fertilizers Market is projected to register a CAGR of 4.4% during the forecast period, 2021-2026. COVID-19 has affected all the processes which connect farm production to the final consumer. It had struck the food production system and food value chain. Farmers in China faced a shortage of agricultural inputs like seed, fertilizer, and pesticides. China is one of the major producers and exporters of fertilizers. Therefore, when China went into lockdown, the global supply chain got disrupted. The global pandemic has negatively affected China's fertilizers market. Owing to the growing production of fruits and vegetables in the country and being the largest producer of fertilizers, nitrogen fertilizers dominated the fertilizers market, followed by phosphatic and potassic fertilizers.
China's soils are naturally phosphate deficient, which led to government policies to encourage production and use of phosphate to boost the yield. The animal and other types of manure used as fertilizer contain a small amount of organic matter to compensate for the loss of nutrients in the soil. China faces several problems in soil productivity and, in order, to feed a large population and ensure food security, it has become essential to maintain a fertile land all across China, thereby, augmenting the market for chemical fertilizers in the country.
Urea Dominates the Nitrogenous Fertilizers Market
The urea fertilizer segment accounted for more than 50.0% share in the nitrogenous fertilizer market. According to the China National Nitrogen Fertilizer Industry Association, the production capacity of urea declined from 72.8 million metric ton in 2017 to 69.5 million metric ton in 2018. China is the largest consumer of urea fertilizers in the Asia-Pacific region as well as globally, with almost one-third of the global urea production being consumed in the country. However, the demand for urea slightly declined in the year 2017 partly due to a more modest application rate as compared to the over-application in previous years, driven by China's zero fertilizer consumption policy. Even so, ammonium bicarbonate and ammonium chloride are still applied in China due to their on-going availability and usage by farmers. About 60.0% of urea in China is consumed in cereals and oilseeds such as maize, soybean, and rapeseed production. In 2017, the International Plant Nutrition Institute (IPNI) of China conducted a Controlled-Release Urea (CRU) fertilizer application program in Hubei province in Central China. It has been proved that the consistent use of CRU fertilizer helps in improving the yield and profitability of major crops, such as rice and eggplant. The Government of China is conducting various awareness programs through conducting farmer meetings and field trials, in order to alleviate the use of urea fertilizers and increase yield with the use of CRU fertilizers.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Sinofert Holdings Limited
6.3.2 Yara China Limited
6.3.3 The Mosaic Company
6.3.4 Nutrien Limited
6.3.5 Hubei Xinyangfeng Fertilizer Co. Ltd
6.3.6 Henan XinlianXin Chemicals Group Company Limited
6.3.7 Laizhou Guangcheng Chemical Co. Ltd
6.3.8 Israel Chemicals Ltd
6.3.9 Kirns Chemical Ltd
6.3.10 Haifa Group
6.3.11 Sociedad Quimica y Minera (SQM)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET
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