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Iranian fertilizer market to grow at a CAGR of over 3.5% during 2015-2020
Jan. 20, 2016
According to "Iran Fertilizers Market Forecast & Opportunities, 2020", the fertilizer market in Iran is projected to grow at a CAGR of over 3.5% during 2015 - 2020 due to increasing need for improving the yield of available arable land in the country.
Government of Iran aims to attain self-sufficiency in the production of staple food crops by 2025, which is anticipated to boost fertilizer consumption in the country over the course of next 5-10 years.
Moreover, easing of sanctions imposed on Iran by the US and European Union is expected to increasing the country's trade of fertilizers and agricultural products in the coming years.
Few of the leading players operating in Iran fertilizers market include Pardis Petrochemical Company, Kermanshah Petrochemical Company, Khorasan Petrochemical Company, Razi Petrochemical Company and Shiraz Petrochemical Company.
Source: techsci research
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