Fertilizers: The seed growing secretly

World fertilizer sales (USD 160bn) make up 4.5% of the global chemical market. By 2015, fertilizers sales are expected to grow by 1.8%.

Global production and consumption hide important regional disparities such as the arrival of large agricultural producers in Asia and elsewhere.

After years of negative and positive price shocks, fertilizer markets' vulnerabilities have been partly resolved, benefitting prices which are expected to be stable in 2014.

In the end, the industry is very profitable. Profit markets for the main players have been on average over 21% over the last five years. Profitability is set to remain high, despite fierce competition, threats on the oligopolistic market structure, and economic and geopolitical risks.