Global Nitrogenous Fertilizers Market Analysis and Forecast Report 2030
Nitrogen fertilizer is an animal feed supplement and crop fertilizer that is widely used as a white crystalline solid in the farming industry, providing 46 percent nitrogen and supplying key nutrients to plants. Nitrogenous fertilizers are inorganic and are used mainly in the agricultural sector. These include, in very small proportions, nitrous compounds such as ammonium nitrate, calcium ammonium nitrate, and many more. Depending on the type of crop, soil fertility is determined by soil tests. A key component of plant proteins is nitrogen. Although it is abundantly present in the atmosphere of the Earth, most plants are unable to turn it into a form they can use. The nitrogen in the fertilizers activates plant chloroplasts and improves the photosynthesis rate, improving the yield quality and quantity.
Global Nitrogenous Fertilizers Market is expected to project a notable CAGR of XX.X% in 2030.
Global Nitrogenous Fertilizers Market to surpass USD 120.12billion by 2030 from USD 62.6billion in 2018 at a CAGR of 4.3% throughout the forecast period, i.e., 2019-30. The major drivers for the market are the growing need to increase productivity, level yield and fertilizer intensity differences across regions, as well as increasing understanding of soil profile and nutritional balance supported by government funding. The agricultural industry has seen an increase in demand for nitrogen fertilizers to provide food crops with sufficient nutrients, thus increasing their yield. It is expected that the growing need to increase productivity and fertilizer intensity differences will drive the use of nitrogen fertilizers in the years ahead. As a consequence, the worldwide nitrogen fertilizer market is projected to experience substantial revenue growth during the forecast period.
Global Nitrogenous Fertilizers Market: Segments
Ammonium nitrate Segment to grow with the highest CAGR of XX.X% during 2019-30
Global Nitrogenous Fertilizers Market is segmented by type into Urea, Ammonium Nitrate, Ammonium Sulfate, and Calcium Ammonium Nitrate. The greater market share in 2018 was accounted for by Ureasegment as urea is most widely used in agriculture and has contributed to nearly 90% of the growth of the nitrogenous fertilizers market in the past decade. Urea is chosen as a replacement for ammonium nitrate and is commonly used since it has been recognized by farmers as an alternative that is inexpensive and simple to use. Due to its growing demand due to the rapid absorption characteristics of nitrate compounds by plants, with minimal nutrient loss compared to other nitrogen fertilizers, ammonium nitrate is expected to rise at the fastest CAGR over the forecast period. This helps to conserve the pH nature of the soil and makes the soil alkaline. This form of soil is ideal for growing carrots, cauliflower, potatoes, peanuts and a few other crops with a pH value greater than seven.
Oilseed segment to grow with the highest CAGR of XX.X% during 2019-30
Global Nitrogenous Fertilizers Market is segmented by Crop Type into fruits and vegetables, cereals and grains, oilseeds, and others. Based on Crop Type, Cereals and grains held the largest share in 2018 in terms of revenue owing to the growing demand from food and animal feed industries. Demand for agricultural chemicals is boosting declining farmland and rising demand for food crops such as wheat, maize, rice, barley, and oats. Wheat is the main user of nitrogen-based soil nourishers, followed by barley, among the cereals consumed globally. In the form of soil additives or sprinklers, nitrogen is added to cereals and grains. Oilseed, because of its demand for edible oil production, is one of the highest revenue-generating crops. The most heavily eaten edible oilseeds are mustard and soybeans. There needs to be a combination of nitrogen, Sulphur and calcium in the soil needed for the growth of these crops. These factors are expected to increase the use of nitrogenous fertilizers for oilseed production.
Global Nitrogenous Fertilizers Market: Market Dynamics
Increasing awareness about nutritional balance and soil profile
To improve production, farmers around the world use a certain amount of synthetic or chemical fertilizers. In recent years, however, an increasing pattern of preference has been observed for organic foods that are processed without any synthetic or chemical components or are processed mainly with natural components or biofertilizers. The value of using nitrogen fertilizers in agricultural production is now being recognized by developing economies around the world. Awareness of the precise use of chemicals is gained by farmers in developing countries such as China, India, Uganda, and Rwanda. In addition, local companies are engaged in providing sales services with regard to technologies and specifications for crop nutrients. These companies also inform consumers about the possible harm caused by excess fertilizer usage and their proper methods of storage and disposal.
Need to increase the productivity level
Nitrogen fertilizers with varying proportions of the nutrient content are sold in various forms on the global market. For faster yield, these nitrogenous fertilizers provide better texture and control plant growth. The demand for nitrogen fertilizers is expected to be propelled by increased commercial farming along with low-cost fertilizer production. In addition, the growth of the nitrogen fertilizer industry during the forecast period is attributable to the rising need for yield increases. In addition, favorable government schemes & subsidization in emerging economies will embellish market growth patterns over the forecast period, prompting the use of the commodity in agricultural activities because of its cost-effective existence.
High rise in Trend of Organic Consumption
The biggest concern is the scarcity and non-renewability of this resource, coupled with government-implemented regulations that which affect the sector. Nonetheless, environmental and health threats associated with nitrogen-based fertilizers have been a significant impediment to market development. Excessive growth of aquatic plants and algae can result from high concentrations of nitrogen in freshwater resources that can cause algae to bloom, decrease water quality and oxygen depletion, stress or kill aquatic life.
Global Nitrogenous Fertilizers Market: Regions
Global Nitrogenous Fertilizers Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Global Nitrogenous Fertilizers Market in the Asia Pacific held the largest market share of 58.9% in the year 2018 due to the presence of several leading players producing nitrogenous fertilizers for various applications in the region. In addition, the abundant availability of the raw materials needed for the manufacture of nitrogen fertilizers, coupled with the increase in commercial agricultural activity, is expected to fuel demand growth in the coming years. Rising investment in sustainable product types and an increasing emphasis on nitrogen fertilizer expansion are other factors that are expected to drive demand growth over the forecast period. Due to the rising recognition of the benefits of other types of nitrogen fertilizers among farmers in the region. South America is expected to grow at the highest CAGR due to the growing awareness about the advantages of other forms of nitrogenous fertilizers among farmers in the region.
Global Nitrogenous Fertilizers market, which is highly competitive, consists of several major players such as Yara International, CF Industries Holdings Inc., hold a substantial market share in the Global Nitrogenous Fertilizers market. Other players analyzed in this report are PJSC Togliattiazot, Nutrien Inc., OCI NV, Coromandel International Ltd, EuroChem Group, Koch Industries Inc., SABIC Group, Bunge Limited and several others.
Global Nitrogenous Fertilizers Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Nitrogenous Fertilizers Market: Key Players
Yara International ASA
Key Product Offerings
Key Performance Indicators
CF Industries Holdings Inc.
Indian Farmers Fertiliser Cooperative
Coromandel International Ltd
Koch Industries Inc.
Global Nitrogenous Fertilizers Market report also contains analysis on:
Global Nitrogenous Fertilizers market segments:
Calcium ammonium nitrate (CAN)
By Crop types:
Cereals & grains
Oilseeds & pulses
Fruits & vegetables
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints