Industry Background:
Nitrogenous Fertilizers are the fertilizers which are used for the plants in order to fertilize them, these are mineral and organic substances which are used as a source of nitrogenous nutrients for plants which ensures that the production or yield of these crop in a better way. Nitrogenous Fertilizers works best on the crops which are produced in humid and in the zone of irrigated agriculture where the soils do not contain enough nitrogen. These are used as a base fertilizer as supplementary feeding for crops and plant. For an instant of example, good nitrogen fertilizers nutrition favors the formation of gluten in wheat grain and increases the protein content of fodder crops. Rising population across the world is demanding for more consumable food products which will indeed drive the market for nitrogenous fertilizer.
According to AMA Research, the market for Nitrogenous Fertilizers is expected to register a CAGR of 2.1% during the forecast period to 2028. This growth is primarily driven by Rising Food Demand, Due to the Increasing Population and the Government Funding
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | Unit |
Value Unit | USD (Million) |
Dominating Type | Urea |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Chemicals sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as ASA (Norway), CF Industries Holdings (United States), Bunge Limited (United States), Agrium Inc. (Canada), Potash Corp. of Saskatchewan (Canada), Eurochem Group AG (Switzerland), Sinofert Holdings Limited. (China), Coromandel International Ltd. (India), CVR Partners (United States) and Koch Industries (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2021, CI approved Indorama India Private Limited ('IIPL') to acquire Indo Gulf Fertilizers ('IGF'), the fertiliser division of Grasim Industries Limited ('GIL').
In 2022, Urea nitrogen fertiliser by product accounted for the highest market share. Liquid nitrogen fertilisers are forecasted to grow rapidly, but high costs will hamper the substantial growth. Brazil is the fourth largest nitrogen producer and consumer in the world. China accounts for nearly 25% of the global nitrogen fertiliser market share.Companies are exploring the market through expansions, investments, new service launches, and collaborations as their preferred strategies. Players around the world are expanding and acquiring in new geographies in order to gain a competitive advantage through collaborative efforts.
Influencing Trend:
Adoption of Bio-Based Fertilizer in Nitrogenous Fertilizer and Acceptance of Urea as the Widely Used Nitrogenous Fertilizer across the World
Market Growth Drivers:
Rising Food Demand, Due to the Increasing Population and the Government Funding, Rising Awareness about Soil Profile and Nutritional Balance, Backed By State Support and Need To Increase Productivity and to Level Yield & Fertilizer Intensity Gaps across Regions
Challenges:
Issue Related With the Environmental Concerns and Concern Related to Unfavorable Regulatory Stance
Restraints:
Increasing Trend of Organic Consumption and High Production Cost
Opportunities:
Growth in Demand for Micronutrient Fertilizer in both Developed and Developing Countries and Rising Input Demand As A Result Of Increasing Investment in Agriculture, Especially In Africa
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Nitrogenous Fertilizers Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Nitrogenous Fertilizers Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Nitrogenous Fertilizers players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Nitrogenous Fertilizers Study Sheds Light on
The Nitrogenous Fertilizers Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Nitrogenous Fertilizers industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Nitrogenous Fertilizers industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.