N-P-K refers to the ratio of important elements in a fertilizer or soil amendment. N stands for nitrogen, which is responsible for strong stem and foliage growth. P is for phosphorus, which aids in healthy root growth and flower and seed production. K stands for potassium, which is responsible for improving overall health and disease resistance.
NPK Fertilizer is mainly classified into four types: Chlorine-based NPK, Sulfur-based?NPK, Nitro-based NPK, Urea-based NPK, Others. And Chlorine-based NPK is the most widely used type which takes up about 30.89% of the global total in 2018.
The global NPK Fertilizer
average price is in the decline trend, from 368.1 $/MT in 2014 to 326.1 $/MT in 2019. The price will be in decline trend if more capacity goes into operation and price of the raw material get reduction in the future. The global NPK Fertilizer market was valued at USD 38762million in 2018 and is expected to reach USD 40866 million by the end of 2024, growing at a CAGR of 2.80% between 2018 and 2024.
Europe is the largest consumption region of NPK Fertilizer in the world in the past few years and it will keep the same position in the next few years. Europe market took up about 38.29% the global market in 2018, followed by Asia-Pacific (~30%), and ROW shared about 32%.
China, Russia, Indonesia, India, Norway, etc. are now the key producers of NPK Fertilizers. There are many producers with lower price, poorer quality products and vicious competition in China. It is so disordered. The high quality products are mainly supplied by overseas producers. Other key factories of NPK Fertilizer are from Vietnam, France, Malaysia, USA, Pakistan, Israel, etc.
Yara (NO), Euro Chem (RU), Acron (RU), Rossosh (RU), Grupa Azoty (PL), ICL (IL), etc. are the key producers in the global NPK Fertilizer market (EX China). Coromandel, Gresik, Phosagro, Roullier, Grupa Azoty, Grupo Villar Mir, S.A.U., etc. not listed in the report, are the other leading suppliers around the world, and Kingenta (CN), Xinyangfeng (CN), Stanley (CN), Luxi Chem (CN), Sinofert (CN), SACF (CN), Batian (CN), Huachang Chem (CN), Hongri (CN), Yihua (CN) are the leading suppliers in China with the total local share of about 50%.