/PRNewswire/ The "Global Specialty Fertilizers Market By Crop Type, By Form, By Mode of Application, By Technology, By Region, Competition Forecast and.
Deepak Fertilizers & Petrochemicals Corporation Ltd (DFPCL) reported a top-line of Rs2,012 crore in the March quarter, a growth of 28% y-o-y (year-on-year) and 3% q-o-q (quarter-on-quarter), driven by strong growth in the technical ammonium nitrate (TAN) and nitric acid businesses.
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The global specialty fertilizers market is estimated to be valued at USD37.6 billion in 2020 and is projected to reach USD 51.3 billion by 2025, recording a CAGR of 6.4%.
Factors such as the growing demand for high-efficiency fertilizers, the adoption of precision farming and protected agriculture, increasing environmental concerns, and rapid growth in greenhouse vegetable production are projected to drive the growth of this market.
The urea-ammonium nitrate (UAN)segment is projected to be the largest segment, by type, in the specialty fertilizers market during the forecast period.
UAN is gaining more popularity among liquid fertilizers, as it can be mixed with pesticides, herbicides, growth regulators, and other nutrients, thereby allowing farmers to reduce costs. Solutions of UAN are widely used as a source of nitrogen for plant nutrition. These solutions are extremely versatile as a source of plant nutr