Europe Fertilizer Market Outlook, 2027
Posted by Sonika on May 18th, 2022
Bharat Book Bureau Provides the Trending Market Research Report on “Europe Fertilizer Market Outlook, 2027”under Agriculture Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
Europe Fertilizer Market Outlook, 2027
Harvesting crops removes essential nutrients from the soil along with them. It is therefore necessary to replenish these nutrients back to the soil during the next seedling. With the use of fertilizers the nutrients are fed back to the crops that they are lacking. The fertilizers play a vital role to increase the yield and ensure healthy produce by bringing the right balance of nutrients to the soil. Fertilizers do not alter the DNA of crops but they improve the growth and quality of the crop by adding important nutrients.
The amount of nutrients in the form of fertilizers added is determined by the farmer after analysing the soil and its requirement for particular crop. Fertilizing in the correct proportion can have a great impact on crops´ yield, appearance and nutritional value. Scarcity of resources, growing sustainability awareness and increased consumer pressure is creating a push towards a circular economy, and Agriculture in not indifferent to this. To further support circular economy progress, market players have also joined the European Sustainable Phosphorous Platform, The Platform for Accelerating the Circular Economy, the European Biogas Association and the German Association for Water, Wastewater, and Waste.
According to the research report “Europe Fertilizer Market Outlook, 2027\" published by our Research, the fertilizer market is anticipated to grow steadily at a CAGR of 5.41% by 2027. Russia is the principal market for fertilizers in this region as one of the major fertilizer exporter. Less arable land results in repetitive use of fertilizers on same piece of land. Complex fertilizers are expected to be growing in demand by farmers at a rapid rate while nitrogen fertilizer is indispensable fertilizer. The fertilizer raw materials are highly fragmented and unequally found around the world as a result of which the transportation costs are very high. Nitrogen and complex fertilizers amount for majority market share in Europe.
Russia is among the top five countries of the world in the fertilizer market. Russia was the leading exporter of fertilizers in 2020 with 7 Billion USD. China is the second largest fertilizer exporter with USD 6.57 Billion followed by United States with USD 3.56 Billion. In 2021, Russia laid down a limit to exporting of fertilizers in lieu of increasing gas prices and food prices. Russia is a leading exporter of nitrogen based fertilizers and complex fertilizers. The limit for nitrogen was set to 5.9 Million Tonnes and 5.35 Million Tonnes for complex fertilizers. Russia exports huge amounts of nitrogen fertilizers to USA and Brazil. Following in the footsteps of Russia, Turkey also halted shipments to other countries. These factors are likely to hamper the fertilizer prices to be at high levels in the first half of the estimated year 2022.
Russia is the largest exporter of wheat to the world with 38.5 MMT in 2020-21. However, farmers are changing their crops from cereals & grains to oilseeds & pulses with their demands increasing. Farmers in Europe are growing more of soybeans & pulses which require less nitrogen as compared to cereals & grains like wheat, Corn and barley. The world is facing shortage of fertilizers due to less production and ban from many countries in lieu of domestic prices shooting up. The dwindling energy reserves of natural gas are further adding upto the fertilizer prices.
Expansion of plant capacities with efficient research & developments it is expected that Urea, MOP and Complex fertilizers would be the future exports of Russia into world markets. This is in lieu of large phosphate rocks deposits in Russia would well position it in the NPK market demand. During covid pandemic the world markets came to a standstill and fertilizer exports were affected due to which the shortages of fertilizers were created and prices skyrocketed. This affected the farmers as they didn’t get fertilizers on time during the cultivation period and as a result the food grains production decreased. Even if the fertilizers were available in the markets the transportation was hit due to lockdowns and supply chains were disturbed.
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About the AuthorSonika
Joined: January 22nd, 2019
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