As per the Renub
Research report titled “Europe Fertilizer Market,
Size, Forecast 2022-2027, Share, Growth, Industry Trends, Impact of COVID-19,
Opportunity Company Analysis,” the Europe
Fertilizer Market Size was US$ 5.5 Billion in
the year 2021. Fertilizers play a central role
in Europe, meeting the agricultural requirements of a developing population by promoting
the effective use of arable land and ensuring food preservation in Europe.
These fertilizers are a rich source of primary nutrients, including phosphorus,
nitrogen, and potassium, and help maintain the health of the crops. Similarly,
they raise the organic & humus content in the soil, provides nutrients for
microorganisms in the soil, and converts the physical/chemical properties of
the soil.
Across Europe, the
market for nitrogenous fertilizers grows with abundant raw materials due to
shale gas exploration. Urea is the consideration for the consumption in the
agricultural sector in the European industry, followed by UAN (Liquid Urea
Ammonium Nitrate. The availability of this gas at a less price has decreased
imports of urea, ammonia, and urea ammonium nitrate in Europe. Increased
commercial farming and the low-cost production of fertilizers are anticipated
to propel the demand for nitrogenous fertilizers.
Geographically, France
Dominates the European Fertilizers Market:
France holds the most
significant share in the European fertilizer market, followed by Germany and
United Kingdom. The demand for phosphate fertilizer increases slower than
nitrogenous fertilizer, owing to France’s insufficient supplies of phosphate
rocks. Also, the rate of application of phosphate fertilizers is low in Europe,
owing to the low rate of phosphorous diffusion and their residual effect in
crops and soil. The primary factor driving cropland conversion in Western
European countries like Germany, the United Kingdom, and Spain transforms
arable land for settlement and infrastructure. The shrinkage of farmland has
emerged in accepting a greater concentration of fertilizers by farmers to cater
to the increasing need for food crops across the region.
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Besides, shrinking
farmland and rising demand for food crops such as wheat boost the requirement
for agricultural chemicals. Wheat is the highest consumer of nitrogen-based
soil nourishment among the cereals consumed across Europe, followed by Coarse,
Oil Seeds, and Potatoes. Nitrogen is used to grains and cereals in the form of
soil additives or sprinklers. A rise in the consumption of bio-fuel and
bio-energy in Europe increased the demand for fodder crops. Fodder crops are
the more fertilizer-consuming crops, growing the need for fertilizers in
Europe.
COVID-19 Impact on European
Fertilizers Market:
The impact of COVID-19
on the fertilizer market in Europe has been minimal, owing to the priority
status of the commodities. Thus, supply chain disruptions have not severely
affected the supply of fertilizers to the European market due to trade
limitations.
Key Players:
Prominent players
operating in the European Fertilizers Market are Yara International ASA,
Eurochem, Achema, OCI N.V, Petrokemua DD Fertilizer Factory, Nitroenmuvek Zrt.,
ICL Specialty Fertilisers, Grupa Azoty Group, Fertberia, BASF SE, and The
Mosaic Company. For instance, Yara International, in 2021, has signed a letter
of intent with Skycraft and Aker Horizon to establish Europe’s first
large-scale green ammonia project in Norway. This will make Yara one of the
major players in producing green ammonia in the European region.
Market Summary: