Humic Acid Water Soluble Fertilizers Market Outlook
The global humic acid water soluble fertilizers market was valued at USD 8,302.1 Million in 2019 and is projected to reach USD 10,183.4 Million by 2027, expanding at a CAGR of 3.5% during the forecast period 2020 - 2027. Humic acid is an organic molecule having major role in soil fertility and plant nutrition. The growth of the global humic acid water soluble fertilizers market is driven by increase in demand for organic fertilizers in agricultural activities over synthetic variety.
They improve the structure & water storage capacity of soils and boost the drought & disease resistance quality of plants.In addition, they enhance the yield of crops, increase production of vegetables & fruits, facilitate growth of superior & deep-rooted turf, improve fertilizer uptake of plant, and support ecological balance.
Scientific studies show that the fertility of soil is determined to a very large extent by the content of humic acids. Their high cation-exchange capacity (CEC), the oxygen content as well as the above average water holding capacity are the reasons for the high value of using humic acids for improving soil fertility and plant growth. The most important feature of humic acids lies in their ability to bind insoluble metal ions, oxides and hydroxides, and to release them slowly and continually to plants when required. Due to these properties, humic acids are known to produce three types of effects: physical, chemical and biological.
Humic Acid Water Soluble Fertilizers Market Dynamics
The market is driven by factors such as improving the structure of soil, prevent high water and nutrient losses in light, sandy soils. Simultaneously convert them into fruitful soils by way of decomposition which are considered as the major reason for high usage of humic acid water soluble fertilizers across the world.
- Improve the structure of soil: Prevent high water and nutrient losses in light, sandy soils. Simultaneously convert them into fruitful soils by way of decomposition. In heavy and compact soils, aeration of soil and water retention are improved; cultivation measures are facilitated.
- Prevent soil cracking, surface water runoff and soil erosion by increasing the ability of colloids to combine.
- Help the soil to loosen and crumble and thus increase aeration of soil as well as soil workability.
- Increase water holding capacity of soil and thus help resist drought.
- Darken the color of the soil and thus help absorption of the sun energy.
Humic Acid Water Soluble Fertilizers Market Segmental Outlook
Types Segment Analysis
Based on types, the liquid fertilizers market was the largest product segment in the global humic acid water soluble fertilizers market in 2019. The segment contributed over almost half of the global market value in the same year. Easier to handle when blending and applying, provides uniform application, can be used for both starter and in-season application are the primary causes of high market share into the global market. In 2019, the global humic acid water soluble fertilizers market was valued at USD 8,302.1 million and is expected to reach USD 10,183.4 million by 2027, expanding with a CAGR of 3.5% through the forecast period 2020 – 2027.
Humic Acid Water Soluble Fertilizers Market Regional Outlook
Regional Analysis
In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is a promising region for the market. It constituted a 43.6% share of the market in 2019. The market in the region is projected to expand at a CAGR of 3.5% during the forecast period. Asia Pacific is expected to register highest demand growth owing to industrial practices being adopted in agriculture to improve crop yield. High agricultural growth in China and India are expected to be major drivers for Asia Pacific industry’s growth. North America holds the second largest value share in the global market.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Humic Acid Water Soluble Fertilizers Market
- Historical, Current and Projected Market Size in terms of Value (USD Million), Volume (Tons)
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Humic Acid Water Soluble Fertilizers Market Performance
Segments
By Type
- Liquid Fertilizers
- Solid Fertilizers
By Application
- Crops
- Vegetables
- Fruits
- Turf
- Others
By Region
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Russia
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East & Africa
Key Market Players Profiled in the Report
Competitive Landscape
- Key players in the market include Haifa Chemicals, Yara, Omex, The Andersons, Arab Potash Company, HUMINTECH GmbH, TAGROW, UralChem.
- In Jan 2019, Haifa Group (Haifa) launches NutriNet, an online expert system which aims to support and optimize the process of creating customized fertilization programs. The service is free of charge for users. The new NutriNet platform was developed at the Haifa Group Innovation Center. It incorporates plant nutrition related knowledge that was accumulated by Haifa during decades of field and R&D activities worldwide. The NutriNet is designed to assist growers in setting fertilization programs. Step by step, the software directs the farmer's workflow, supports decision-making and simplifies calculations. The majority of the process is carried out before the season, leaving the grower with a detailed work plan for the season. The fertilization programs may be retrieved at any time, for adjustments and to create task reminders.
- In May 2018, Yara International ASA has closed its acquisition of the Vale Cubatão Fertilizantes complex, strengthening Yara's integrated position in Brazil. This acquisition marks the start of an exciting new phase in Brazil for Yara as the acquisition brings nitrogen production assets into our growing portfolio in Brazil, strengthening and growing Yara’s integrated position within both industrial and fertilizer. The transaction is valued at USD 255 million, with the operating capital value subject to post-closing adjustment.
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