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[ 英語タイトル ] China Fertilizers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Product Code : MDAG00112426
Survey : Mordor Intelligence
Publish On : May, 2021
Category : Agriculture and Allied Activities
Report format : PDF
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China

[Report Description]

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 of 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.​

Key Market Trends

Increasing Cultivation Of Fruits and Vegetables

As per a World Bank study, China is the world’s largest producer and exporter of nitrogen and phosphate fertilizers in 2018. Also, according to Agriculture Ministry of China, the country ranked first in the production of cereals, cotton, fruits, and vegetables in 2019. The country feeds around 21.0% of the world population with 9.0% of its farmland. With the changing consumption pattern and continuous increase in population, the demand for more food grains is leading to a upsurge in the demand for chemical fertilizers in the country.​ As per the International Fertilizer Industry Association, China accounts for 30.0% of the world fertilizer use with 46 million metric ton of ammonia produced in 2016. Also, the country is a major producer of many crops including rice, wheat, sorghum, and others. According to the Organization for Economic Cooperation and Development (OECD) statistics, China grew 260.0 thousand metric ton of maize, 146.0 thousand metric ton of rice, and 133.0 thousand metric ton of wheat in 2019. This has led to an augmented demand for chemical fertilizers in the country.​ The UN’s Food and Agricultural Organization predicted that the global fertilizer use would grow by 1.4% each year between 2014 and 2018, with China accounting for 18.0% of that growth, thereby, continuing with the stable demand in the country, during the study period.​Hence, in order to ensure food security and increase the productivity of crops, demand for fertilizer is expected to be impacted by this trend and may add to the revenues of fertilizer 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.

Competitive Landscape

The China chemical fertilizer market is highly consolidated with Sinofert Holdings Limited, Yara China Limited, and Nutrien Limited accounted for significant market shares in 2018. Given that the market is consolidated, wide product portfolios, investments in R&D, expansions, mergers, acquisitions, and a few more business strategies lead the companies in achieving higher shares in the market. The players are also investing in the development of new products and mergers & acquisitions, which is expected to increase their market shares while strengthening R&D activities. For example, in 2019, the Mosaic Company signed the memorandum of understanding MoU with China’s Sinochem, where the latter agreed to purchase the phosphatic fertilizers from the former, which includes even the premium products.

Reasons to Purchase this report:

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1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Type
5.1.1 Nitrogenous
5.1.1.1 Urea
5.1.1.2 Calcium Ammonium Nitrate (CAN)
5.1.1.3 Ammonium Nitrate
5.1.1.4 Ammonium Sulfate
5.1.1.5 Ammonia
5.1.1.6 Other Nitrogenous Fertilizers
5.1.2 Phosphatic
5.1.2.1 Mono-ammonium Phosphate (MAP)
5.1.2.2 Di-ammonium Phosphate (DAP)
5.1.2.3 Triple Superphosphate (TSP)
5.1.2.4 Other Phosphatic Fertilizers
5.1.3 Potassic
5.1.4 Secondary Nutrient Fertilizers
5.1.5 Micronutrient Fertilizers
5.2 Application
5.2.1 Grains and Cereals
5.2.2 Pulses and Oil Seeds
5.2.3 Fruits and Vegetables
5.2.4 Commercial Crops
5.2.5 Other Applications

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 Química y Minera (SQM)

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

8 AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET

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