Ken Research announced its latest publication on "China Complex (NPK) Fertilizer Market Outlook to 2022 - Expected Replacement from Straight Chemical Fertilizers To Complex Fertilizers
" provides a comprehensive analysis of the complex fertilizer market in China. The report covers aspects such as complex fertilizer market by its key segments including market size, consumption of complex fertilizers by product form, product type, application by crops, by regions and by grades. The publication also includes detailed analysis of complex fertilizer market, trade scenario, competitive landscape, detailed profiles on major players and trend and developments. Future analysis of China complex fertilizer market with estimated production and consumption projections has also been discussed along with analyst recommendations.
China Complex Fertilizer Market
China is the largest producer and consumer of complex/compound fertilizers in the world. The complex NPK fertilizer industry in China is large and has grown steadily in the last decade. China is almost self sufficient to meet the demand of compound fertilizer in the country. It has considerable natural reserves of raw materials utilized for production of compound fertilizers. Complex fertilizers worth USD ~ million were sold in the country and the market grew at a CAGR of ~% during the period 2012-2017. The market witnessed a slowdown in revenue growth during the last two years due to decline in price of complex fertilizers in the country. Consumption of complex fertilizers grew at a CAGR of ~% during the period 2012-2017, rising from ~ million MT in 2012 to ~ million MT in 2017.
China Complex Fertilizer Market Segmentation
By Region: Henan was the largest consumer of complex fertilizers in China and accounted for about ~% of the market in 2017, in terms of revenue. Shandong, Anhui, Jilin, Hebei and Jiangsu accounted for ~%, ~%, ~%, ~% and ~% market share respectively in 2017. All other regions together comprised for remaining ~% of the market.
By Product Form: Blended form of complex fertilizers was widely used in China owing to lower capital investment required in producing the same. Blended complex fertilizers comprised for ~% of the market share as compared to ~% by granulated or fused complex fertilizers.
By Product Type: Complex fertilizers comprising of three primary nutrients (nitrogen, phosphorous and potassium) was widely consumed in China and accounted for ~% market share in 2017. On the other hand, complex fertilizers comprising of two nutrients accounted for ~% market share in 2017.
By Grade: NPK 16-16-8 was the most widely used complex fertilizer in China and accounted for ~% market share in overall complex fertilizer market in 2017. NPK 20-20-15, NPK 20-25-5 and NPK 15-15-15 were other popularly used fertilizer grade which comprised for ~%, ~% and ~% market share respectively in 2017. All other grades/formulas of complex fertilizers together comprised for about ~% of the market share in 2017.
China complex fertilizer market is highly competitive and quite concentrated with top 4 players occupying about ~% of the market share, in terms of revenue in 2017. About 250-300 companies are engaged in the production of complex fertilizer in China, with majority of them being small scale producers having installed capacity to produce ~ MT of fertilizers annually.
Kingenta was the market leader as it produced around ~ million MT of complex fertilizers and comprised for ~% market share in 2017, in terms of revenue. Other prominent players included Hubei Xinyangfeng, China XLX Fertilizers, Sino-Arab Chemical Fertilizers, Sinopec, Sumitomo Corporation, Hebei Sanyuanjiuqi Fertilizer, Shandong Lvfeng Fertilizer, Hebei Zhongchang Fertilizer, Hanfeng Evergreen, Yujiang TianYu Eco-Agriculture, Hebei Chunchao Biological Technology, China BlueChemical and several more.
China Complex Fertilizer Market Future Outlook and Projections
Chinese government has agreed on lowering export tariff on complex fertilizers, reducing from current 30% export duty to CNY 100 (USD 15.14) per MT in 2018. This is expected to significantly boost exports of complex fertilizers from China 2018 onwards. Hence, production of complex fertilizers is expected to grow at healthy CAGR of ~% during 2017-2022, inclining from ~ million MT in 2018 to ~ million MT by 2022. Complex fertilizer market is anticipated to grow from USD ~ billion in 2018 to USD ~ billion by 2022 at a CAGR of ~% during the period 2018-2022. Overall, consumption of complex fertilizers is expected to incline at a CAGR of ~% during the same period.
Key Topics Covered in the Report:
- Asia Complex Fertilizer Market Size by Revenue
- Value Chain Analysis of China Complex Fertilizer Market
- China Complex Fertilizer Market Size
- China Complex Fertilizer Market Segmentation By Form, By Type, By Grade, By Crops, By Regions
- Market Share Analysis of Major Players
- Company Profiles of Major Players
- Future Outlook and Projection for China Complex Fertilizer Market
- Future Outlook and Projection for Asia Complex Fertilizer Market