The agri-nutrients industry in the Arabian Gulf and globally is entering a new phase characterised by lower market growth, economic slowdown and increased consolidation and to enhance its competitive advantage, the industry must work towards creating value through innovation and developing improved and sustainable agri-nutrient products, speakers said at the 10th Fertiliser Convention held by the Gulf Petrochemicals and Chemicals Association (GPCA) in Muscat, Oman.
Fertiliser demand is projected to grow at CAGR 1.4% between now and 2023, falling behind global GDP and other industries’ growth. Industry consolidation is at an all-time high led by a rise in mega-mergers and acquisitions in the last 10 years, with the top ten fertiliser producers now controlling 45% of the market share.
Speakers at the convention stressed that this highly competitive and consolidated industry environment presents new challenges and opportunities for agri-nutrient producers in the GCC
