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Specialty Fertilizers Market Challenges, Scope, Application,product, Application Segment Analysis,

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A balanced supply of essential plant nutrients is critical for successful crop production. Traditionally, farmers used a combination of conventional fertilizers such as urea for nitrogen, DAP (diammonium phosphate) or MAP (monoammonium phosphate) for phosphate, MOP (muriate of potash), SOP (sulfate of potash) for potash or compound fertilizers such as NPKs for all three nutrients to grow their crops. Specialty fertilizer products (such as calcium nitrate and potassium nitrate) are targeted for growers of cash crops (fruits and vegetables).
The demand for specialty fertilizers is projected to continue to grow as they prove to be an efficient alternative to conventional fertilizers, owing to their environmental-friendly, resource-saving, and labor-saving characteristics.
However, because of the high price of these fertilizers when compared to conventional fertilizers, their use is still limited primarily to ornamental, horticultural, and turf applications. As larger production scales for specialty fertilizers are achieved, costs will continue to decline, making them more attractive for commodity/open-field/broad-acre crops such as corn, wheat, soybean, and potatoes.
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Specialty Fertilizers Market Size, by Crop Type, 2015–2020 ($Million)

E – Estimated; P - Projected
Note: The “others” segment includes sugarcane, sugar beet, forage crops, medicinal and aromatic plants, and plantation crops etc.
Source: Expert Interviews and MarketsandMarkets Analysis
The global specialty fertilizers market is projected to grow at a CAGR of 7.0% between 2015 and 2020. The market was dominated by North America, which accounted for around 39.60% of the total share, in 2014. The Asia-Pacific region is projected to be the fastest-growing market, owing to the growing demand for food products and environment-friendly agri-inputs.
China is projected to be the fastest-growing market for specialty fertilizers, followed by India. The turf & ornamentals segment is projected to be the biggest and fastest-growing market for specialty fertilizers, globally, from 2015 to 2020. The cereals & oilseeds and fruits & vegetables segments are projected to grow significantly, at a CAGR of 7.1% and 7.0%, respectively.
Specialty fertilizers such as controlled-release fertilizers have seen four generations of product development and manufacturers are still innovating new technology specialty fertilizers for further improvement and to benefit the farming community. A new development in specialty fertilizer began in 2010, with the introduction of Double Coating Technology (DCT) and it is included in the fourth generation.
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The global market is characterized by intense competition due to the presence of a large number of both, large- and small-scale firms. New product launches & development, expansions, investments, collaborations, acquisitions; agreements, partnerships & joint ventures were the key strategies adopted by market players to ensure their growth in the market. The market was dominated by players such as Yara International ASA (Norway), Sociedad Quimica y Minera S.A. (Chile), Sinochem Group (China), Haifa Chemicals (Israel), Agrium Inc. (Canada), The Mosaic Company (U.S.), and the Potash Corporation of Saskatchewan Inc. (Canada).
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