Here's Why the Growing Need for Fertilizers Propelling the Growth of the GCC Fertilizer Market in the Forecast Period

 The world as we know would not exist without the use of modern-day fertilizer in crop yielding. Farmers can keep up with the necessities of feeding a thriving population only due to the use of fertilizers, as more than half of all food consumed today is only able to be grown because of it. Fertilizers consist of macronutrients like phosphorus, nitrogen, and potassium that make up for all the necessary plant growth. Hence, the GCC Fertilizer Market is rising robustly and is likely to attain around 8.9% CAGR in the forecast period.

It substantially owes to the mounting demand for food grains and recognition of fertilizers among farming communities to increase overall productivity. The fertilizer industry is full of companies with an entire supply chain, right from production & manufacturing to distribution and retail, all working collectively to deliver the fertilizers to farmers in a safe & sustainable manner.

The leading players in the GCC Fertilizer Market are Qatar Fertilizer Company, Saudi Arabian Fertilizer Company, Gulf Petrochemical Industries Company, Fertil and Emirates BioFertilizer Factory, Emirates Bio Fertilizer Factory, Abu Dhabi Fertilizer Industries Co. WLL, RNZ International FZCO, SABIC, RNZ International FZCO, Ma'aden Wa'ad Al-Shamal Phosphate.

While the fertilizer sector has gained a robust pace in the agriculture industry, the sudden outbreak of the Covid-19 pandemic brought several challenges to it. Although the pandemic affected all kinds of industries, the GCC Fertilizers Market was the most affected. Governments across the countries took measures to fight Covid-19 and imposed several restrictions, including a complete lockdown.

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This phase led the GCC Fertilizers Market to suffer from a slowdown in sales, especially in the Q1 of the previous year. The fertilizers market has also had interruptions in the complete value chain, straight from raw materials supply to packaging, manufacturing, and distribution, because of alterations in logistics & transportation. However, with the gradual upliftment of lockdown and ease of restriction, the market shall recover from the loss and regain its speed in the forecast period.

Amongst the consumption figures of fertilizers in the GCC, the highest place goes to Gulf Petrochemical Industries Company (GPIC) in Bahrain. It produced a total of 1.6m tons of urea, ammonia, and methanol of about 1.4% fertilizers in the previous year and crossed its annual target mark. Bahrain also attains the highest record of the daily production of urea at the rate of 2,055 tons and adds up new records per month for methanol at the rate of 62,300 tons. Hence, it became the fastest user of fertilizers and is propelling their demand throughout the GCC region.

It is all about knowing the exact amounts of nutrients in the fertilizer to make it effective and efficient in the farming processes. Hence, with the growing demand, research & development of fertilizers, the GCC Fertilizer Market shall grow exponentially and yield better results in the GCC region in the years to come.