Latin America Nitrogenous Fertilizers Market By Ingredient (Urea, Ammonium Nitrate, Ammonium Chloride, Sodium Nitrate, Ammonium Sulphate, Calcium Nitrate, Calcium Ammonium Nitrate (CAN), Other Nitrogenous Fertilizers), By Application (Crop Based-Oil Seeds, Fruits & Vegetables, Grains & Cereals; Non Crop Based-Turf & Ornamental Grass And Others), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecast | 2024 to 2029.

Updated On: January, 2024
ID: 858
Pages: 145

Latin America Nitrogenous Fertilizers Market Size & Growth 2026:

The Latin America Nitrogenous Fertilizers Market was worth 11.49 billion in 2021 and estimated to be growing at a CAGR of 3.12%, to reach 13.4 billion by 2026.

Nitrogen aids in rapid growth and imparts better texture and colour to plants and thus enhances agricultural output. In spite of the abundance of nitrogen in the environment, only a few plants have the ability to absorb and use the same. Nitrogenous fertilizers are inorganic in nature and are normally employed in the agriculture industry. It comprises nitrous complexes such as ammonium sulphate, Calcium Nitrate, calcium ammonium nitrate and other compounds in tiny amounts.

Latin America Nitrogenous Fertilizers Market Drivers:

The growth of the Latin America Nitrogenous Fertilizers market is mainly driven by reasons such as increasing disposable income, rising population and high efficiency of nitrogenous fertilizers. However, volatile economies and the growing cost of raw materials are the major limiting factors for the market in this region.

Market Segmentation:

Latin America Nitrogenous Fertilizers Market - By Ingredient:

  • Urea

  • Ammonium Nitrate
  • Ammonium Chloride
  • Sodium Nitrate
  • Ammonium Sulphate
  • Calcium Nitrate
  • Calcium Ammonium Nitrate (CAN)
  • Other Nitrogenous Fertilizers

Latin America Nitrogenous Fertilizers Market - By Application:

  • Crop Based
    • Oilseeds
    • Fruits & Vegetables
    • Grains & Cereals
  • Non Crop Based
    • Turf & Ornamental Grass
    • others

Urea-based nitrogenous fertilizers are leading the ingredient segment in terms of consumption. However, Ammonium nitrate is projected to be the fastest-growing segment during the forecast period. By application, Grains such as rice and corn lead the market for nitrogenous fertilizer and this trend is anticipated to remain during the forecast period.

Regional Analysis:

Latin America market region includes countries such as Brazil, Argentina, Mexico and the remaining countries of South America. The Latin America region is one of the fastest-growing markets for Nitrogenous Fertilizers market. High production of sugarcane and corn in South America is anticipated to drive the market in the region.

Key Players:

  • Yara International ASA
  • Agrium Inc
  • Coromandel International Ltd
  • Potash Corp
  • KOCH Industries Inc
  • CF Industries Holdings Inc
  • CVR Partners, Lp
  • Bunge Ltd
  • Sinofert Holdings Ltd
  • Eurochem

The market for Nitrogenous fertilizers is extremely consolidated and streamlined owing to the existence of only a handful of companies.

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