Market Snapshot:
Nitrogen is an essential nutrient that is used in order to yield crops and make them fertilize. It helps in providing better texture and color to crops as well as enables the productivity of these yields. The nitrogenous fertilizer market is expected to gain growth, by owing to the rising food demand, due to the increasing population. Furthermore, Europe and North America are likely to witness steady growth over the forecast period, due to market saturation. However, South America and Africa are estimated to exhibit high growth in the coming years, owing to the huge cultivation of rice, corn, and sugarcane in these regions. Hence increasing the demand for nitrogen fertilizers is expected to witnessing a CAGR of 3.8% over the forecast period (2019-2025).
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | Asia-Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Yara International ASA (Norway), CF Industries Holdings (United States), Nutrien Agrium (Canada), Potash Corp. of Saskatchewan (Canada), EuroChem Group AG (Switzerland), AgroLiquid (United States), Plant Food Company, Inc. (United States), Foxfarm Soil and Fertilizer Company (California), Agro Bio Chemicals (India), Agzon Agro(India), Israel Chemical Ltd. (Israel), K+S Aktiengesellschaft (Germany), Sociedad Química Y Minera De Chile (SQM) (Chile) and The Mosaic Company (United States) |
CAGR | 5.73% |
Segment Analysis
AMA Research have segmented the market of Global Nitrogen Fertiliser market by Type, Application and Region. On the basis of Type, Urea are dominating the market in the year 2023
On the basis of geography, the market of Nitrogen Fertiliser has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Kuwait, Oman, Qatar, Saudi Arabia, Africa), North America (United States, Canada, Mexico). Asia-Pacific region held largest market share in the year 2023.
Market Trend
With the rising trend of adoption of Urea in this market across the world is rising the market value of this nitrogen fertilizers. Urea is having a high nitrogen content (46%). China and India are the largest producers and consumers of urea in the world. Thus trending the market.
Market Drivers
Increasing Population Numbers Across the Globe, Rising Demand for Highly Nutritious Food Crops Owing To Rising Population and Increasing Demand for Easy-To-Use Fertilizers is Boosting Sales
Opportunities
The Asia-Pacific region holds the largest share among all regions in the nitrogenous fertilizer market, accounting for 60% of the total global nitrogenous fertilizer usage. China and India share the largest consumption share in the Asia-Pacific fertilizer market, with China alone accounting for more than 50% of the consumption in the region. Hence, boosting the market.
Restraints
- The Emergence of Non-Toxic Organic Fertilizers That Cause Minimum Harm to the Ecosystem
In addition to the aforementioned factor, Increasing Population Numbers Across the Globe
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The global market of the nitrogenous fertilizer market is fragmented, and the market has a significant presence of Chinese and non-Chinese manufacturers. The top three companies have just about 15% of the nitrogenous fertilizer production capacity. However, there has been some consolidation of the market over the past five years, especially in Europe and North America.
The key Vendors profiled in the study are Yara International ASA (Norway), CF Industries Holdings (United States), Nutrien Agrium (Canada), Potash Corp. of Saskatchewan (Canada), EuroChem Group AG (Switzerland), AgroLiquid (United States), Plant Food Company, Inc. (United States), Foxfarm Soil and Fertilizer Company (California), Agro Bio Chemicals (India), Agzon Agro(India), Israel Chemical Ltd. (Israel), K+S Aktiengesellschaft (Germany), Sociedad Química Y Minera De Chile (SQM) (Chile) and The Mosaic Company (United States). A lot of Asia-Pacific players are profiled in the research study indicating a strong market dependence.