Europe Fertilizer Market, Size, Forecast 2022-2027, Industry Trends, Share, Insight, Growth, Impact of COVID-19, Opportunity Company Analysis
Europe Fertilizer Market will be US$ 8.4 Billion by 2027. Fertilizers have been the primary input of nutrients for plant production throughout human history. The application of fertilizers increases biomass production in the plant and thus yields. In Europe, the fertilizer industry has developed and prioritized the notion of product and nutrient stewardship. Besides, the industry sets standards for the environmental footprint of individual products and optimizes the use of fertilizers to minimize negative impacts. Remarkably, the fertilizer industry is very competitive in the current years. Moreover, European fertilizer producers operate in a global market as fertilizers are traded in large amounts between continents.
Europe Fertilizer Industry Expands registering a CAGR of 7.3% during 2021-2027:
Global presence, knowledge, and crop solutions make manufacturers well-positioned to expand their collaboration with the food industry, acting as driving forces within the industry. In addition, consumers are increasingly willing to pay for quality and sustainability, which helps to achieve better crop nutrition, application knowledge, and tools, further pushing the demand for fertilizers in Europe.
Remarkably, recycling and reuse of materials coupled with reduced waste and pollution are core ideas in trend running in the industrial realms. Government assistance related to growing awareness about the positive impact of using organic fertilizers on human health and soil quality has been driving the growth of the European fertilizer industry. Moreover, strict regulations on leveraging synthetic fertilizers are creating lucrative growth avenues for market players.
Nitrogen Accounts for Significant Share of Total Fertilizer Market in Europe:
Overall, the European fertilizer market comprises three primary nutrients: Nitrogen, Phosphate, and Potash, which all have paramount and complementary roles in the ecological processes of plants. As per our analysis, nitrogen is a vital nutrient, accounting for a significant share of the total fertilizer market. The production of nitrogen mineral fertilizers is based on a technology invented approximately 100 years.
Nevertheless, the phosphate and potassium fertilizer capacities market is mainly expanding within the EU. The industry for phosphate and potassium is expected to make considerable improvements in energy efficiency by its production. Numerous companies are at a point where any future investment in current technology will result in marginal efficiency improvements of the fertilizers mentioned above.
COVID-19 Impact on European Fertilizers Market Growth Trends:
The COVID-19 impact on the fertilizer market in Europe has been minimal, owing to the priority status of the commodities. Thus, supply chain disruptions due to trade restrictions have severely affected the supply of fertilizers to the European market. But, in 2021 vaccine rollout at a good pace and low third wave impact, along with the limited effect of supply chain disruptions during the pandemic scenario, assisted the market expansion throughout the pandemic occurrence. According to Renub Research Analysis, Europe Fertilizer Market Size will reach US$ 5.5 Billion by 2021.
Key Market Players of the European Fertilizers Industry:
The European fertilizers market is fragmented with the top international players like Yara International ASA, Eurochem, Achema, OCI N.V, Petrokemua DD Fertilizer Factory, Nitroenmuvek Zrt., ICl Specialty Fertilisers, Grupa Azoty Group, Fertberia, BASF SE, and The Mosaic Company capturing the overall market. Key companies in the European fertilizer industry have dedicated partnerships to increase yield and farmer income and achieve a carbon-positive future. Moreover, digital agriculture is developing rapidly, with several multinationals and start-ups making significant investments into digital platforms.
Renub Research report titled “Europe Fertilizer Market, by Segment (Nitrogen, Potassium & Phosphate) Type (Nitrate, Urea, UAN, Compound fertilizer & Others), Crop (Wheat, Coarse, Oil Seeds, Potatoes, Sugar Beet, Perm Crop, Fodder Crop, Fertilizer grassland, Others arable) Country (France, Germany, United Kingdom, Spain, Italy, Others) Company (Yara International ASA, Eurochem, Achema, OCI N.V, Petrokemua DD Fertilizer Factory, Nitroenmuvek Zrt., ICL Specialty Fertilisers, Grupa Azoty Group, Fertberia, BASF SE, and The Mosaic Company)” provides a detailed analysis of Europe Fertilizer Industry.
Segments - Europe Fertilizer Market & Volume have been covered from 3 viewpoints:
Type - Nitrogen Fertilizer Market & Volume have been covered from 5 viewpoints:
3. UAN (Liquid Urea Ammonium Nitrate)
4. Compound fertilizer
Crop – Europe Fertilizer Volume have been covered from 9 viewpoints:
5. Sugar Beet
6. Others Arable
7. Perm Crops
8. Fodder Crops
9. Fertilizer Grassland
Geography – Europe Fertilizer Volume have been covered from 6 viewpoints:
3. United Kingdom
• Recent Development
1. Yara International ASA
4. OCI N.V
5. Petrokemua DD Fertilizer Factory
6. Nitroenmuvek Zrt
7. ICL Specialty Fertilisers
8. Groupa Azoty Group
10. BASF SE
11. The Mosaic Company
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