The research report titled “Vietnam Complex (NPK) Fertilizer Market Outlook to 2022 – NPK 16-16-8 will Continue to be Widely Used Complex Fertilizer” provides a comprehensive analysis of the complex fertilizer market in Vietnam and covers complex fertilizer market size, consumption of complex fertilizers by Region (Northern, Southern and Central), by product form (Granulated/Fused or Blended), by type (two or three nutrients), by crops (cereals, oilseeds, fruits & vegetables and others), by grade (NPK 16-16-8, NPK 20-5-5, NPK 7-7-14, NPK 12-5-10, NPK 15-15-15 and Others), company profile of major players including Binh Dien Fertilizer, Lam Thao Fertilizers and Chemicals, The Southern Fertilizer Company, Japan Vietnam Fertilizer Company, Baconco Group, Can Tho Fertilizer and Chemical, Van Dien FMP Fertilizer, Ninh Binh Phosphate Fertilizer, Five Star International Group, General Materials Biochemistry Fertilizer. The publication also includes trade scenario, trends and developments and Future analysis with estimated production and consumption projections has also been discussed along with analyst recommendations.
Vietnam Complex Fertilizer Market
Agriculture is a key sector in Vietnam’s economy; more than 70% of the country populations are farmers. Vietnam is dependent on imports for manufacturing of complex fertilizers as it lacks potash reserves. NPK fertilizers comprised for the largest share in overall fertilizer sector by accounting for around ~% of the overall fertilizer demand in 2017. Existence of a number of small scale complex fertilizer manufacturers has resulted in diverse quality of complex fertilizers found in the country. The average selling price of NPK is ~% higher than the selling price of Urea. Complex fertilizer market witnessed growth at a CAGR of ~% during 2012-2017, inclining from USD ~ million in 2012 to USD ~ million in 2017. Consumption of complex fertilizers grew at a CAGR of ~% during the period 2012-2017, whereas, production grew at a CAGR of ~% during the same period.
Vietnam Complex Fertilizer Market Segmentation
By Region: Southern region comprising of 19 first tier administrative units was the largest consumer of complex fertilizers in the country. As of 2017, the Southern comprised for about ~% market share of the overall complex fertilizer market, in terms of consumption volume. On the other hand, Northern and Central region of Vietnam accounted for ~% and ~% market share in 2017.
By Product Form: Blended form of complex fertilizers was widely used in Vietnam owing to lower capital investment required in producing the same. Blended complex fertilizers comprised for ~% of the market share as compared to ~% by granulated or fused complex fertilizers.
By Product Type: Complex fertilizers comprising of three primary nutrients (nitrogen, phosphorous and potassium) was widely consumed in Vietnam and accounted for ~% market share in 2017. On the other hand, complex fertilizers comprising of two nutrients accounted for ~% market share in 2017.
By Grade: NPK 16-16-8 was the most widely used complex fertilizer in Vietnam and accounted for ~% market share in overall complex fertilizer market in 2017. NPK 20-5-5, NPK 7-7-14, NPK 12-5-10 and NPK 15-15-15 were other popularly used fertilizer grade which comprised for ~%, ~%, ~% and ~% market share respectively in 2017. All other grades/formulas of complex fertilizers together comprised for about ~% of the market share in 2017.
By Crops: Complex fertilizers in Vietnam were majorly utilized for cultivation of cereals and comprised for about ~% of the market share in 2017, in terms of consumption volume. Oilseeds, Fruits and vegetables and all others accounted for ~%, ~% and ~% market share, respectively.
Competition Scenario
Vietnam complex fertilizer market is very competitive with more than ~ major NPK producers and over ~ small scale companies. The country’s domestic production has been sufficient to meet the consumption demand in the last few years. However, most NPK manufacturers operated at about ~% of their installed capacity and production is not advanced in terms of technology as majority of companies were involved in producing lower quality blended complex fertilizers.
Vietnam’s complex fertilizer market is fairly concentrated with top 5 players together comprising for ~% of the market share. Binh Dien Fertilizer emerged as the market leader, in terms of revenue, by accounting for ~% market share in 2017. Lam Thao Fertilizers and Chemicals was the second largest player in this space and comprised for ~% market share. The Southern Fertilizer Company, Japan Vietnam Fertilizer Company and Baconco Group comprised for ~%, ~% and ~% market share, respectively. Other prominent players included Can Tho Fertilizer and Chemical, Van Dien FMP Fertilizer, Ninh Binh Phosphate Fertilizer, Five Star International Group, General Materials Biochemistry Fertilizer and several more.
Vietnam Complex Fertilizer Market Future Outlook and Projections
Despite a balanced demand and supply equilibrium, domestic manufacturers keep investing in NPK projects. Several new and existing players are expected to setup new manufacturing plants or enhance the production capacity of existing sites. For instance, Taekwnag Co. announced its plan to build a NPK plant with production capacity of 360,000 MT per year by the end of 2018. Consumption of complex fertilizers in Vietnam is expected to grow at a CAGR of ~% during the period 2017-2022. Ken Research estimates the consumption of complex fertilizer to grow in the next five years, rising from ~ million MT in 2018 to 4.7 million MT by 2022. Complex fertilizers market is anticipated to be worth USD ~ million by 2022 rising from USD ~ million in 2018. This represents growth at a CAGR of ~% during the period 2017-2022.
Key Topics Covered in the Report:
- Asia Complex Fertilizer Market Size by Revenue
- Value Chain Analysis of Vietnam Complex Fertilizer Market
- Vietnam Complex Fertilizer Market Size
- Vietnam Complex Fertilizer Market Segmentation By Form, By Type, By Grade, by Crops, By Regions
- Trade Scenario
- Market Share Analysis of Major Players
- Company Profiles of Major Players
- Future Outlook and Projection for Vietnam Complex Fertilizer Market
- Analyst Recommendations
- Future Outlook and Projection for Asia Complex Fertilizer Market
For more information on the research report, refer to below link:
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