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United States fertilizer manufacturing market: $23.7 billion industry by 2018
Fertilizer Manufacturing in the US - Industry Market Research Report - a new market research report on 2014-03-31 12:32:02
Over the five years to 2013, industry revenue in the United States fertilizer manufacturing market is estimated to decrease at an annualized rate of 2.5% to $20.4 billion, primarily due to a 29.5% drop in revenue in 2009. Farmers will increasingly demand fertilizer as production increases. Fertilizer is a natural or manufactured material containing at least 5.0% nitrogen, phosphorous or potassium, and is used in crops that produce food, feed, fiber and energy. It is primarily a commodity, and the world market determines prices. Demand for fertilizer products rose before the recession, when crop prices increased and farmer incomes grew.

However, when the recession hit in late 2008 and 2009, demand declined; as a result, farmers reduced their crop production and distributors cut inventories. In 2010, demand rose slightly, but it was still well off the highs of 2008. Expansion in international trade heightened competition and hindered revenue growth in 2010.

However, revenue began to rebound in 2010 and has stayed positive since, including estimated growth of 3.8% in 2012 and 1.7% in 2013. According to industry major player the Mosaic Company, the 2012 Midwest drought, which was the worst since 1956, has not hindered fertilizer demand. Fertilizer prices will also continue to grow, which will boost revenue. During the five years to 2018, revenue in the United States fertilizer manufacturing market is expected to increase at an average annual rate of 3.1% to $23.7 billion.

Moreover, exports are expected to grow at an average annual rate of 4.6% over the next five years, which will further expand industry revenue. At the same time, imports are anticipated to grow at an average annual rate of 2.9%, limiting revenue expansion. According to the US Department of Agriculture, the United States is one of the top five fertilizer producers in the world for all major fertilizer nutrients (i.e. nitrogen, phosphorus and potassium). Behind China, the United States is the secondlargest producer and consumer of fertilizer in the world.

Although industry revenue is projected to grow, company numbers are anticipated to decrease through 2018 because of acquisition activity. Players like Agrium and CF Industries completed acquisitions over the five years to 2013.

This trend is anticipated to continue as the industry´s product line remains saturated and manufacturers experience the most growth potential through mergers and acquisitions. From 2013 to 2018, the number of enterprises is forecast to decline at an average annual rate of 2.4% to 335

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