South Korea Elemental Fertilizer Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 0.8 Billion by 2030, growing at a CAGR of 6.2% from 2024 to 2030.
The South Korea Elemental Fertilizer Market plays a crucial role in boosting agricultural productivity, with a growing demand driven by various industries. As agriculture remains a cornerstone of the economy, fertilizers, particularly elemental fertilizers, are indispensable for ensuring sustainable crop production and maintaining soil health. These fertilizers, which contain essential nutrients like nitrogen, phosphorus, and potassium, are vital for enhancing soil fertility and improving crop yields.
In South Korea, the application of elemental fertilizers is widespread across both large-scale farming operations and smaller, more specialized farms. These fertilizers cater to various crop types, including rice, vegetables, and fruits, which are staples in the country’s agriculture. The increasing need to optimize crop production amidst urbanization and environmental challenges has pushed industries to adopt advanced fertilizer technologies to improve efficiency and sustainability. The market's dynamics show that industrial sectors like horticulture and floriculture also require specific elemental fertilizers to ensure plant growth and vitality.
The rise of precision agriculture in South Korea has further revolutionized the fertilizer industry. This approach involves the use of technology such as soil sensors and data analytics to apply fertilizers in a targeted manner, minimizing waste and maximizing crop output. As a result, there is a marked shift towards specialized elemental fertilizers designed to cater to specific needs of different crops and soil types. The precision agriculture method also aligns with the growing trend toward environmentally sustainable farming practices.
Industries across the board are increasingly recognizing the significance of elemental fertilizers for maintaining long-term soil health. This demand has been fueled by the agriculture sector's push for higher productivity, enhanced food security, and sustainable practices. Government policies aimed at reducing the environmental footprint of farming have encouraged the use of eco-friendly and balanced elemental fertilizers that offer both agricultural and ecological benefits.
Furthermore, the evolving consumer preferences for organic and sustainably farmed produce have spurred a demand for fertilizers that can support these practices without harming the environment. The South Korea Elemental Fertilizer Market is adapting to these changing needs, with innovations in both product formulations and application methods. As the market continues to grow, industries across South Korea must remain agile, adopting newer and more efficient solutions to meet the increasing demand for high-quality fertilizers.
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Yara International
CF Industries Holdings
Nutrien
CVR Partners
Indorama Corporation
Mosaic
Phosagro
OCP
Ma'aden
PotashCorp
GUIZHOU KAILIN(GROUP)
Wengfu Group
Asia-Potash
Uralkali
Belaruskali
K+S
Agrium
ICL Group
Behn Meyer
Van Iperen International
China Bluchemical
Yuntianhua
Henan Xinlianxin
Qinghai Yanhu Group
Hubei Yihua
SDIC Luobupo
Citic Guoan
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Elemental Fertilizer Market
Liquid Fertilizers
Granular Fertilizers
Soluble Fertilizers
Slow-Release Fertilizers
Nitrogen-Based Fertilizers
Phosphorus-Based Fertilizers
Potassium-Based Fertilizers
Micronutrient Fertilizers
Foliar Application
Soil Application
Seed Treatment
Drip Irrigation
Agricultural Sector
Horticulture
Landscaping
Home Gardeners
Online Retail
Supermarkets and Hypermarkets
Specialty Stores
Direct Sales (Agricultural Supply Stores)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Elemental Fertilizer Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Elemental Fertilizer Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Elemental Fertilizer Market, By Type
6. South Korea Elemental Fertilizer Market, By Application
7. South Korea Elemental Fertilizer Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Elemental Fertilizer Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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