Global Water Soluble
Fertilizers Report
2016-17
A complete Data driven analysis report
To understand the Global water soluble fertilizers market demand, suppliers, Competitors
market share, Capacity, Production, Imported quantity, F.Y Sales Company wise, Region wise,
Statewise. Analysation of market potential in India.
Presented By
S. Kandha Hari Shankar
Deputy Manager – Port Operations & Documentation,
Southern Petrochemicals IndustriesCorporation Limited,
SPIC House (Corporate Office)
Chennai
1/9/2017

1
Global Water Soluble Fertilizers
Market Potential Report 2016-17
Executive Summary
Water soluble fertilizers are expected to witness significant demand over the next eight years as
they improve crop quality and increase crop production output significantly. In addition,
fertilizers protect the crops and plants from diseases and crop destroying insects including
caterpillars, grasshoppers, beetles and locusts. Increasing crop production in various countries
including China, India, the U.S., Indonesia, Brazil, Japan and Mexico on account of growing
population is one of the major drivers for the market growth.
Asia Pacific is expected to fuel demand for water soluble fertilizers over the next eight years on
account of growing population in countries including China, India, Pakistan and Bangladesh.
Furthermore, rapid economic growth, government support, advancements in fertilizer
manufacturing coupled with increasing inclination of population towards disease free and
healthy fruits & vegetables is anticipated to propel market demand.
This report studies Water Soluble Fertilizers in Global market, especially in North America,
Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market,
with production, price, revenue and market share for each manufacturer, covering
 Coromandel International Limited
 Yara International ASA
 Agrium Inc.
 Haifa Chemicals Limited
 Israel Chemical Limited
 The Mosaic Company
 Compo GmbH & Co. KG
 Hebei Monband Water Soluble Fertilizer
 K+S AG
 Sociedad Quimica Y Minera SA (SQM)

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Global Water Soluble Fertilizers Market Research Report 2016
Table of Contents
1. Global water Solublefertilizer Market Overview
2. Indian Fertilizers Market Overview
3. Segmentation of Water Soluble fertilizers Business
4. Market Volume Share
5. Product insights
6. Capacity/ Production/Consumption of Nitrogenous fertilizers
7. Capacity/ Production/Consumption of Phosphatic fertilizers
8. Micro – Nutrients Growth drivers & Industry dynamics
9. Nutrients consumption among the Asian countries
10. Global Nutrient consumption outlook
11. Pan – India consumption of Micro Nutrients
12. Introduction to CHELATION TECHNOLOGY
13. Corp Insights
14. Corp productivity comparison
15. India’s Water soluble fertilizers – Capacity/Production/Imports/ sales data
16. India’s Manufacture wise Water soluble fertilizers – Capacity/Production/Imports/ sales
17. Global N,P,K Fertilizers Market Analysis
18. Pan India company wise water soluble fertilizers present share of consumption
19. Pan India estimated water soluble fertilizers share of consumption for fy16-17
20. Water soluble fertilizers Application Movement Analysis
21. Regional Insights
22. State wise estimated consumption of water soluble fertilizers in India
23. Asia Pacific water soluble fertilizers market revenue by corp type
24. Risk & Challenges
25. Conclusion
Annexures
 Global Water Soluble Fertilizers Manufacturers / Suppliers Details
 Global Water Soluble Fertilizers recent Imports in India

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Global Water Soluble Fertilizers Market Overview
 The water-soluble fertilizers market is considered to be one of the most important
segments of agri-inputs, due to the expanding commercial cultivation of high value crops
to meet the rising demand for food.
 Water-soluble fertilizers improve the returns on investment and also aid in meeting
farmers' as well as consumers' demands, from the economical and health perspective,
with increasing per hectare production of quality agricultural products.
 The global water-soluble fertilizers market is estimated to be valued at USD 12.24
Billion in 2017 and projected to reach USD 17.06 Billion by 2022, at a CAGR of
5.69% from 2016. With the increase in demand for food security for the growing
population, along with the limited agricultural land available in the world, and rise in
crop loss due to nutrient deficiency, the use of water-soluble fertilizers is expected to
enhance the market growth.
 The rise in urbanization, population growth, industrialization, and energy demand has
augmented the conversion of cropland to other industrial and domestic uses. According to
the Food and Agriculture Organization (FAO) of the United Nations (UN), developing
economies including India, and China requires an additional 120 million hectares of land
to fulfill the food needs of their consumers by 2030. Moreover, arable lands are also
getting wasted owing to deforestation and improper agricultural practices, which is
leading to a significant loss of production yield. Water-soluble fertilizers help farmers
maximize production in a sustainable manner and also accelerate the growth of crops and
maintain the overall health of the plants, which will impel this market’s growth in the
coming years.
 Over the years, practices for soil fertility management have gained prominence mainly
because of loss of arable land and an upsurge in the demand for food. Soil fertility
management practices involve conservation tillage, rotation of the crop, and optimal
utilization of fertilizers and pesticides.
 Farmers around the world are adopting soil management practices to improve the quality
and quantity of agricultural production. These methods involve the use of chemicals and
fertilizers for agricultural purposes. The increasing adoption of soil management
practices for maintaining soil sustenance will drive this market’s growth during the
forecast period.

4
Indian Agriculture Overview
 India has 18% of world’s population but only 11% of its arable land per capita renewable
water resources are well below global average levels and there is heavy reliance on
monsoon.
 Per hectare yield in India is amongst the lowest in the world, Compared to global average
of 4 tonnes / ha the yield in India stands at 3 tonnes / ha.
 To meet incremental demand of food grains, higher use of agro inputs is critical to
enhance yields
 Policies to encourage balanced nutrients, use of pesticides, seeds availability of water,
electricity,credit and minimum support price will play a critical role.
 India’s calorie and protein consumption is set to increase going forwards at a steady pace

5
Water Soluble Fertilizers Segmentation
Water Soluble
Fertilizers
Nutrient Application RegionCorp Type
Nitrogenous
Phosphatic
Potassium
Micro Nutrients
Secondary
Nutrients
Fertigation
&
Foliar
Field
Horticultural
Turf &
Ornamental
Plantation Corps
North
America
Europe
Asia Pacific
Latin
America
MEA

6
Global water soluble fertilizer market volume share,
by product, 2015-16 (%)
Nitrogeneous 64.24 % Micronutrients 1.56 %
Potassium 15 % Phosphatic 16.2 %
Secondary
nutrients
3 %
Product Insights:
 Nitrogenous was the prominent segment in 2015-16 and accounted for 64.24% of the
global volume share and is expected to witness growth on account of high application in
oilseeds and grains. The product provides better texture and color to plants and thus
increases the overall crop productivity.
Capacity, Production & Consumption of Nitrogenous during 2014-16
(Million Tonnes)
13.533 13.533
12.435 12.467
17.024 17.02741
0
2
4
6
8
10
12
14
16
18
2015-16 2014-15
Capacity
Prodcution
Consumption

7
Capacity, Production & Consumption of Phosphatic during 2014-16
(Million Tonnes)
 Potassium will witness substantial volume growth at a CAGR of 4.9% from 2016 to 2024
as it aids water retention, and protein synthesis to energize plants for healthy growth.
Moreover, these are highly soluble, non-toxic to roots and improve tolerance towards
frost, which will increase its consumption.
Micro nutrients growth drivers & Industry dynamics:
• Industry estimates the micro-nutrient market at INR 12bn or 0.4 mn tonnes p.a.
• For every 100 kg of major nutrients, 45 kg of micro nutrients ideal.
• Currently, this is just around 800gms in India, or 1/6th
of potential size
• Chelated micronutrients a profitable, but smaller market than major and hence less
presence of larger players.
• Changing Government Policies Moving away from subsidies would impact primary
fertilizer consumption.
0
1
2
3
4
5
6
7
2015-16 2014-15
6.836 6.75
4.11 3.964
6.095
5.645
Capacity
Production
Consumption

8
• Nutrient Based Subsidy (NBS)- Subsidized fertilizers leading to underproductive fertility
practices and longer term issues of soil quality, hence move to NBS a good move. With
fixed subsidy, consumption of potash and phosphate has decreased.
• Focus on balanced use of fertilizers with focus on sustained soil quality
• Subsidized urea has led to its excessive usage, which has harmed current crop as well as
long term soil quality.
• Current fertilizers policy states promoting balanced nutrient application as an objective
• Direct Cash Transfer gives farmers the option to buy the right fertilizer –mix
• Relatively high crop prices and MSPs also support better purchasing power for the
farmers
• Increasing awareness-Efforts by industry players and government on providing soil-
testing facilities, knowledge on soil quality and crop care will have long-term bearing on
growth of micro nutrients fertilizers
• However, there are local players and imports which compete largely on pricing.
India’s Nutrient application rates will have to increase to improve productivity

9
Global Nutrient Consumption Outlook
All India Consumption of Micronutrients
(Tonnes)
Year Zinc
Sulphate
Ferrus
Sulphate
Copper
Sulphate
Manganese
Sulphate
Borax
Acid
Molybdenum
2004-05 118,080 9,356 873 7,964 10,019 -
2005-06 111,573 8,303 694 5,676 6,365 855
2006-07 85,283 5,015 379 3,277 2,968 -
2007-08 110,150 6,938 1,220 4,709 7,774 -
2008-09 103,820 6,122 1,357 2,088 11,535 64
2009-10 105,594 11,541 1,286 2,201 10,444 205
2010-11 151,162 20,254 1,388 3,942 17,466 215
2011-12 161,037 21,275 1,699 4,495 20,187 209
2012-13 160,324 22,781 1,686 5,248 17,626 107
2013-14 194,406 24,633 2,921 6,064 19,567 143

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CHELATION TECHNOLOGY:
• Nutrients can be applied to crops in inorganic form or chelate form
• 60% of inorganic compounds are wasted by leaching, fixation and due to its property of
reacting easily with air, water & soil.
• Chemically inert and soluble in water and easily absorbed by plants
• Increase the availability of nutrients by binding relatively insoluble iron, ensuring 100%
availability.
• Prevent nutrients from leaching
Consumption of Plant Nutrients per unit of gross cropped area
in 2015
57.6
31.4
12.8
0
Consumption
Nitrogeneous
Phosphatic
Potassic

11
Crop Type Insights
 Field crops accounted for 64.9% of the overall volume share in 2015 as they are
cultivated on a large scale to meet food requirements.
 Water soluble fertilizers are integrated with irrigation systems and are directed towards
the roots of plants to fulfill nutritional.
 Rising demand for field crops including rice, cotton, wheat, oilseeds and other grains in
countries such as the U.S., China, India and Brazil on account of growing population is
expected to augment the industry demand over the upcoming years.
Key Industry Highlights :
 Organic (Furits & Dairy products) market to grow at a CAGR OF 13-14% & 10-11 %
respectively from 2013 to 2018
 Total Indian Bio input market estimated to reach US $ 37.0 billion by 2025
 Approx 18 % of the crop yeild worth US $ 19.6 billion is lost due to pests every year in
India
2008 2013 2018
40
55
71
Consumption & Farmers Need
Consumption & Farmers
Need
CAGR OF 6 %

12
Corp Productivity Comparision :
India - Water Soluble Fertilizers
Capacity,Production,Import&Sale(2006-2015)
Year Capacity
(‘000 tonnes)
Production
(‘000 tonnes)
Import
(‘000 tonnes)
Sale
(‘000 tonnes)
2006-07 3,133 1,594 18,213 16,423
2007-08 6,114 2,195 38,805 30,762
2008-09 6,997 4,902 18,662 30,060
2009-10 7,143 6,870 32,373 38,132
2010-11 27,835 14,650 48,302 54,271
2011-12 47,348 20,222 62,010 69,712
2012-13 66,285 27,481 71,961 90.827
2013-14 68,447 21.778 85.560 93,905

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Manufacturer wise Capacity,Production, Imports
& Sale of Water Soluble Fertilizers-2014-15
S.
N
O
Company
Name
Product Grade Capacity
‘000
tonnes)
Production
(‘000
tonnes)
Imports
(‘000
tonnes)
Sale
(‘000
tonnes)
1 Coromandel
International
Ltd – Vizag &
Kakinada
NPK 19-19-
19,20-20-
20,13-40-
13
15,000 3,925 - 2,834
Other
NPK
4,500 1,729 - 1,372
2 Zuari Rotem
Speciality
Fertilizers ltd,
Baramati
NPK 19-19-19
13-40-13
20-20-20
12,000 2,513 - 202
3 Zuari Agro
Chemicals ltd
NPK &
Others
15.5-0-0-
18.8
13-0-45
0-52-34
12-61-0
0-0-50
- - 4765 4100
4 Everest
Fertilizers &
Chemicals Pvt
ltd, Rajkot
NPK 19-19-19 500 12 12
5 Gujarat State
Fertilizers &
Chemicals ltd
NPK &
Others
19-19-19
13-0-45
0-52-34
12-61-0-
0-0-50
3000 625 425 562
6 Indian Farmers
Fertilizers
Cooperative
ltd, Kandla
NPK &
Others
18-18-18
0-0-50
6000 3436 1993 3670
7 Mangalore
Chemicals &
Fertilizers Ltd
NPK &
Others
19-19-19
13-40-13
13-0-45
0-52-34
0-0-50
12-61-0
2947 2947 7082 9466
8 Rashtriya NPK 19-19-19 8000 3860 - 3307

14
Chemicals &
Fertilizers Ltd
12-61-0
13-0-45
0-0-5
9 Chambal
Fertilizers &
Chemicals ltd
NPK &
Others
19-19-19
13-0-45
0-52-34
12-61-0
0-0-50
15.5-0-0-
18.8
124 92
10 Chakradhar
Chemicals pvt
ltd
NPK &
Others
15.50-0-
18.8
0-52-34
12-61-0
1243 1056
11 Deepak
Fertilizers &
Petro
Chemicals
Corporation ltd
NPK &
Others
19-19-19
12-61-0
0-52-34
13-0-45
0-0-50
15.5-0-0-
18.8
13-40-13
17014 16033
12 Nagarjuna
Fertilizers &
Chemicals ltd
NPK &
Others
19-19-19
12-61-0
0-52-34
13-0-45
0-0-50
15.5-0-0-
18.8
13-40-13
15510 11240
13 Paradeep
Phosphates ltd
NPK &
Others
19-19-19
0-52-34
0-0-50
13-0-45
12-61-0
761 761
14 PR Agro Nutri
pvt ltd
NPK &
Others
19-19-19
12-61-0
0-52-34
13-0-45
0-0-50
15.5-0-0-
18.8
13-40-13
3128 2927
15 Shriram
Fertilizers
NPK &
Others
19-19-19
12-61-0
9368 9021

15
&Chemicals 0-52-34
13-0-45
0-0-50
15.5-0-0-
18.8
13-40-13
16 Tata
Chemicals ltd
NPK &
Others
19-19-19
12-61-0
0-52-34
13-0-45
0-0-50
15.5-0-0-
18.8
13-40-13
2947 2947
17 Solufeed Plant
Products &
Service pvt ltd
NPK &
Others
19-19-19
12-61-0
0-52-34
13-0-45
0-0-50
13-40-13
594 62
Global N,P,K Fertilizer Market 2016-17

16
Pan India Present Share of Important Grades of
Water Soluble Fertilizers in Total Consumption

17
Pan India Estimated Share of Important Grades
of Water Soluble Fertilizers in Total Consumption
Water Soluble Fertilizers Market
Application Movement Analysis
10.80% 3.10%
11.20%
11.50%
11.90%19.20%
26.90%
5.40%
Estimated share in India
MKP
Urea Phosphate
Potassium Nitrate
SOP
MAP
Calcium Nitrate
19-19-19
Other Grades
69.60%
98.50%
30.40%
60.20%
0.00% 50.00% 100.00% 150.00% 200.00%
2015
2024
Fertigation
Foilar

18
 Foliar accounted for 30.4% of the overall volume and will show steady growth in light of
rising application in various fruits & vegetables including tomatoes, beans, and melons.
However, high cost as compared to fertigation will pose a challenge to its growth.
 During 2015, the fertigation segment dominated the market and accounted for close to
69.60% of the market shares in terms of revenue.
 Fertigation water and nutrients quickly enter the active zone of the root resulting in
superior absorption by crops
Regional Insights
 Asia Pacific accounted for 22.6% of the overall revenue in 2015 and is projected to
increase demand for water soluble fertilizers over the next eight years on account of
growing agricultural output in countries including China, India, Pakistan, and
Bangladesh.
 Development of medium to small scale market participants in the region coupled with
rapid economic growth and government support is expected to drive the market growth.
India :
 The market of water soluble fertilizers in India stood at 110,000 mt in volume
terms, during 2014-15 and is projected to witness strong growth over the next five
years
 The country’s Western region, comprising Maharashtra and Gujarat, holds largest
share in terms of WSF consumption as soil in this region contains high clay level,
which makes it difficult for cultivation
 The market is largely organized with the presence of various established players
such as Zuari Agro, Deepak Fertilizers, Nagarjuna Fertilizers and Coromandel
International. Several other players such as Aries Agro, IFFCO and Gujarat State
Fertilizers and Chemicals are also seeking to establish their footprint in the market
and capitalize on growth opportunities available in the country.
China:
 China leads in the production of rice followed by India and Indonesia.
 China accounts for more than a quarter of global rice production.
 Furthermore, production of fruits and plantation crops such as tea and coffee are
very popular in China.
 Presence of the main fertilizer manufacturers including Sinofert Holdings
Limited, EuroChem, Bunge, and Agrium Inc. will increase industry expansion.

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Europe:
 Europe accounted for 37.6% of the overall revenue share in 2015
 It expected to witness significant gains in light of rising food security concern owing
to growing population along with high export demand for food products including
wheat and cereals from Germany, France, Italy and UK. Moreover, the presence of
key participants including Yara International, Bunge Ltd., Agrium, Eurochem, Potash
Corp, and CF Industries will promote industry growth.
North America:
 North America market has been pegged at $3,626.9m in the year 2015 growing at 5.5%
annually and is projected to reach $4,739.7m by the end of the year 2018.
 Its constitute 31.7% of Global Water Soluble Fertilizers market and are poised to grow its
market share to 32.0% by the end of year 2018.
State Wise Estimated Consumption of Water Soluble
Fertilizers 2016-17
S.
No
State / Groups Consumption (Tonnes)
Fertigation Foliar Total
1 Maharashtra 32,000 9,000 41,000
2 Karnataka 14000 6000 20000
3 Andhra Pradesh 10000 5000 15000
4 Gujarat 6000 4000 10000
5 Rajasthan 1500 1500 3000
6 Madhya Pradesh & Chhattisgarh 4000 3000 7000
7 Uttar Pradesh & Uttarkhand 1000 6000 7000
8 Bihar/ Jharkhand & West Bengal 200 1300 1500
9 Punjab & Haryana 1500 4500 6000
10 Jammu & Kashmir 100 900 1000
11 North east 400 4100 4500
12 Tamil Nadu & Kerala 10000 4000 14000
Total 80,700 49,300 1,30,000

20
Asia Pacific water soluble fertilizer market revenue,
by crop type, 2013 - 2024 (USD Million)
Risk &Challenges:
 Poor monsoon :
Stronger focus on developing cash crop markets and horticulture crops during Rabi, since
water availability is known before Rabi season

21
 Power deficiency leading to unavailability and increased power cost :
Re-orienting our product and market mix towards states with surplus power
 Imports is in forex :
 Almost 67% of our Imports is in forex
 Forex gain in the first six months of FY16 is INR 0.61Cr
 Volatile Exchange Rate:
 Un expected depreciation of Chinese Yuan renminbi 2016
 Monetary tightening by US in 2016
 Demonetization by Govt of India in 2016

22
Conclusion:
 The Specialty fertilizers market are small but growing faster than the commodity
market
 Irrigated area in India is has been steadily increasing

23
 Cropping intensity has also steadily increased
 Long term demand drivers remain strong in India

24
 Agri GDP expected to grow in FY 16-17 & 17-18
 Expected above normal Monsoons of 106 % to 109 % of LPA for FY 16-17 & 17-18

25
Global Water Soluble Fertilizers Manufacturers and
Suppliers Details

26

27

28

29

30

31
Latest Water Soluble Imports in India

32

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