Market Leader - NPK Fertilizers (feed-grade and food-grade) Market
The NPK fertilizers (food-grade) market is estimated to be valued at USD 2.4 billion in 2018 and is projected to reach USD 2.9 billion by 2023, at a CAGR of 4.0%. The market is driven by the rise in consumption of meat and dairy products, the high threat of diseases in livestock, and increasing awareness about the quality of feed and food products.
Key players in the NPK fertilizers (feed-grade and food-grade) market include Borealis AG (Austria), AkzoNobel (Netherlands), Yara International ASA (Norway), Petróleo Brasileiro S.A. (Brazil), and Agrium Inc. (Canada). Furthermore, The Mosaic Company (US), Israel Chemicals Ltd. (Israel), EuroChem (Switzerland), PotashCorp (Canda), K+S AKTIENGESELLSCHAFT (Germany), Alltech (US), PhosAgro (Russia), Haifa Chemicals (Israel), Aditya Birla Chemicals (India), and SKW Stickstoffwerke Piesteritz (Germany) are the other players that hold a significant share in the NPK fertilizers (feed-grade and food-grade) market.
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Borealis operates globally with established production facilities, innovation centers, and service centers across the world. The company is focused on strengthening its base in Europe to ensure cost competitiveness from urea and ammonia manufacturers. Its products cater to the customers’ requirements; this is achieved by focusing on quality and quantity. Due to the low availability of products for the feed industry, its wide distribution and production network poses a threat to other feed-grade fertilizer manufacturers. The company is involved in the forward and backward integration of its products, to maintain the high standard of its products, as the company aims to be a market leader in Europe. It strives to sustain growth through its innovation centers in Austria, Finland, and Sweden. In July 2013, Borealis acquired GPN SA (France) from TOTAL S.A. (France). This acquisition helped the company to enhance its product portfolio in nitrogen fertilizers.
AkzoNobel has a strong product portfolio and caters to the automotive & transportation, marine, aerospace & defense, building & construction, healthcare, agriculture, and electrical & electronics industries. Its comprehensive and differentiated product portfolio helps the company enhance its production to strengthen its capabilities in China, India, and Turkey. The company has a strong presence in Asia Pacific, Europe, and North America. Foraying into new industries and targeting new markets can help the company sustain its dominant position.
Yara International ASA is one of the leading manufacturers of agrochemicals. It continuously invests in R&D capabilities to provide cost-effective solutions for its customers. It focuses on delivering solutions that can enhance the yield of milk, milk fat, and fertility efficiently. It has a robust supply chain & distribution network across all production facilities. The company focuses on the acquisition of local players to strengthen its market position in the respective regions. There are higher prospects to enter the Asian market by acquiring Chinese companies. It also has opportunities in emerging markets, such as India. The company has a global reach, which has enabled it to create synergies between the production and distribution of its extensive product portfolio. The need for effective and efficient farming and feeding solutions has also enhanced its position in the market. A large share of the company’s revenue is generated from Europe, which is proving to be an opportunity for its competitors to capture untapped markets. However, Yara plans to expand its reach with the help of global expansions and acquisitions.
Related Reports:
NPK fertilizers (feed-grade and food-grade) Market by Application (Bakery Products, Meat & Meat Products, Dairy Products, and Beverages), Form (Powder, Liquid, and Others), Type (Nitrogen, Phosphorus, Potassium, and Others), and Region-Global Forecast to 2023
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