The excessive use of nitrogen fertilizers has resulted in a lack of other macronutrients in the soils of Vietnam; as a result, the Vietnamese government is actively promoting the use of potash fertilizers across the nation. While the government of Vietnam has been working hard to achieve its aim of providing food security for the country’s rapidly expanding population, the country’s fertilizer consumption has increased at a compound annual growth rate of 3.4 percent from 2006 to 2012. Even although the economy was in a slump, the fertilizer industry remained one of the most robust industries, which contributed to the industry’s status as one of the most lucrative sectors for fertilizer businesses. The fertilizer industry in this country is highly consolidated, with the majority of the supply being handled by just two large corporations—the petrovietnam group and the vietnam national chemical group—and the majority of the companies in the industry being affiliated with either of these two groups. The vast majority of the fertilizer companies in the nation have centered their efforts on the manufacturing of phosphate and nitrogen fertilizers. In 2012, nitrogen fertilizers accounted for more than half of the total usage of fertilizers throughout the nation. On the other hand, since the government is currently concentrating on the idea of balanced fertilization, it is anticipated that the use of potash fertilizers would increase throughout the course of the years 2013-2017. The consumption of potash fertilizers is anticipated to grow at a cagr of 5.3 percent during the period of 2012-2017, making it the fastest growing macronutrient when compared to other macronutrients such as nitrogen and phosphate fertilizers, and consequently driving the growth of the fertilizer industry in the country. Potassium chloride and npk fertilizer are the two most important types of potash fertilizers that are used in the nation. It is anticipated that both of these types of fertilizer will see a positive increase of 5.1 and 5.5 percent throughout the period of 2012-2017. “the vast majority of the potash fertilizers used in the nation are brought in from other countries, and the value of these imports has increased at a compound annual growth rate of 8.2 percent from 2006 to 2012.” According to the research report titled “vietnam fertilizer industry outlook to 2017 – government initiatives to enhance npk complex fertilizer growth” written by ken research, the country of Belarus was responsible for the largest amount of potash imports in 2012. The total amount reached 233,444.0 tons. The need for potash fertilizers in Vietnam would be fueled by the expansion of government-funded programs like the balanced fertilization for improved crops in Vietnam (balcorp) project. During the period of 2012-2017, the consumption of potash fertilizers was projected to reach thousand tons of nutrients, with an annual growth rate of 5.3 percent. The report provides a comprehensive overview of the fertilizer market in Vietnam and assists the reader in recognizing current trends in the principal subsectors of the industry. Additionally, the report discusses growth projections for the foreseeable future based on the changing industry dynamics that are expected over the next few years. This research will help industry consultants, fertilizer businesses, marketing firms, and other stakeholders align their market-centric strategies according to trends that are now occurring and those that are anticipated to occur in the future. Kindly click on the link provided below for more information: http://www.kenresearch.com/agriculture-food-beverages/agriculture-industry/vietnam-fertilizer-market-research-report/451-104.html http://www.kenresearch.com/press/news-vietnam-fertilizer-market-research-report/232.html Ankur Gupta is the person to contact; his title is head-marketing and communication; his email address is ankur@kenresearch.com; his phone numbers are 01147017199 and +91 9015378249
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