The global fertilizer industry is experiencing unprecedented growth and demand. As the world population rises and is expected to reach 9 billion by 2040, a constant, increasing demand will be placed on fertilizer in an effort to boost crop yields without the expansion of harvestable acreage.
In addition, after decades of excessive chemical fertilizer use (and misuse) that contaminated the soil and regional water tables, fertilizers have become more sought after for their eco-friendly footprint as well as their effectiveness for growing crops. The impact of such a dramatic change for generating the crops that feed nations has meant a steady increase in the demand for fertilizers. That impact has created a similar increase in the price of this product, which could mean impressive potential profits for those companies capable of meeting the demand.
Industry analysts project mounting growth for the global fertilizer market. Some estimates put the growth at an annual rate of 14%, which would mean an expected annual market value at $1.88 billion by 2020. Predictions for the Compound Annual Growth Rate (GAGR) for the global fertilizer market is approximately 3.8% for the period 2018-2023.
This white paper will provide:
- Metrics supporting the growth of fertilizer industry.
- The key challenges to optimizing facility output.
- Insights into effective conveying solutions.
Click here to download a free copy of our fertilizer industry white paper.