The secondary macronutrients market is projected to reach USD 37.12 Billion by 2022, at a CAGR of 3.76% from 2017 to 2022. Factors such as increasing deficiencies of sulfur, magnesium, and calcium in the soil and the growing importance for higher crop yields are expected to drive the market for secondary macronutrients.
Key players in the secondary macronutrients market include Nutrien (Canada), Yara International (Norway), The Mosaic Company (US), Israel Chemicals Ltd. (Israel), and K+S (Germany). Nufarm (Australia), Koch Industries (US), Coromandel International (Italy), Deepak Fertilisers and Petrochemicals (India), Haifa Chemicals (Israel), Sapec Agro Business (Portugal), and Kugler Company (US) are a few other key market players who also have a significant share in the secondary macronutrients market.
Nutrien (Canada) was formed by the merger of two of Canada's largest fertilizer companies-Agrium Inc. (Canada) and PotashCorp of Saskatchewan (Canada). This merger was officially approved in January 2018. The company has been listed on Toronto Stock Exchange and New York Stock Exchange. Nutrien is the largest provider of crop inputs and services. The combined company operates through four businesses-retail, nitrogen, phosphate, and potash. Through its retail business, the company provides micronutrients and crop protection products. The company comprises more than 1,500 farm retail centers and caters to growers in continents such as North America, South America, Europe, Asia, Australia, and Africa.
Yara International (Norway), formerly known as Norsk Hydro, changed its name to Yara International in 2004. It is primarily engaged in the manufacture and marketing of fertilizers and industrial products. The company operates through three major business segments-fertilizer, industrial products, and ammonia trade. The company has its presence in 160 countries in Europe, Africa, Asia, North America, and South & Central America. It operates through its subsidiaries, which include Yara China Ltd. (China), Yara Guatemala S.A. (Guatemala), Yara North America, Inc. (US), Yara Colombia Ltda. (Colombia), Yara Hellas S.A. (Greece), and Yara Asia Pte. Ltd. (Singapore). It has global operations in more than 60 countries and sales offices in more than 160 countries. The company provides secondary macronutrients under brands such as YaraMila, YaraVita, and YaraBela.
The Mosaic Company (US) is engaged in the manufacturing and marketing of concentrated phosphate and potash crop nutrients. It operates through three segments—phosphates, potash, and international distribution. It has a major presence in the US, Brazil, India, Canada, Australia, Argentina, Japan, China, Colombia, Chile, Peru, Thailand, and Mexico. It owns and runs mines to produce concentrated phosphate crop nutrients. The company provides a portfolio of premium fertilizers, potash, phosphate, feed ingredients, and industrial products. Under premium fertilizers, Mosaic offers secondary macronutrients such as magnesium and sulfur. Mosaic has distribution facilities in eight countries and serves customers in more than 40 countries.
Secondary Macronutrients Market by Nutrient (Calcium, Magnesium, and Sulfur), Form (Dry and Liquid), Application Method (Solid Application and Liquid Application), Crop Type (Cereals & Grains and Oilseeds & Pulses), and Region - Global Forecast to 2022
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