The size of the global nitrogenous fertilizers market is expected to be valued at USD 145.57 billion by 2028 from USD 123.16 billion in 2023, growing at a CAGR of 3.40% from 2023 to 2028.
Nitrogen is the most essential nutrient needed for plants for their growth and development. Though available in abundance in the environment, it is not promptly taken by all plants. Nitrogenous fertilizers are inorganic and are typically utilized in the agriculture industry. It consists of nitrous complexes such as ammonium sulfate, Calcium Nitrate, calcium ammonium nitrate, and other compounds in minute amounts. The soil fertility and the type of crop used are the factors that decide the number of nitrogenous fertilizers required.
The growth of the global nitrogenous fertilizers market is majorly driven by factors such as globally increasing population, rising disposable income, and high efficiency of nitrogenous fertilizers. However, different regulatory structures, volatile economies, and various environmental and health hazards linked with nitrogen-based fertilizers are the major restraining factors for the market. Also, an increase in the cost of raw materials is a major challenge for companies in the market.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 to 2028 |
Base Year |
2022 |
Forecast Period |
2023 to 2028 |
CAGR |
3.40% |
Segments Covered |
By Ingredients, By Application, Non-Crop, By Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
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 |
This research report on the global nitrogenous fertilizer market has been segmented and sub-segmented into the following categories:
Nitrogenous Fertilizers Market - By Ingredients:
Nitrogenous Fertilizers Market - By Application:
Nitrogenous Fertilizers Market - Non Crop:
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 global market for nitrogenous fertilizer and this trend is anticipated to remain during the forecast period.
Nitrogenous Fertilizers Market – By Region:
The Asia Pacific has been leading the global nitrogenous fertilizer market and this trend is projected to stay in the near future. North America is the second major consumer of nitrogenous fertilizers, followed by Europe. Demand for nitrogenous fertilizer in North America and Europe is expected to grow at a slow rate, largely due to market saturation. The growing demand for nitrogenous fertilizer in South America is anticipated to offer huge growth prospects for the market.
Key Market Players:
Yara International ASA, Agrium In, Coromandel International Ltd, Potash Corp, KOCH Industries Inc, CF Industries Holdings Inc, CVR Partners, Lp, Bunge Ltd, Sinofert Holdings Ltd and Eurochem are some of the prominent
FAQ's
The size of the global nitrogenous fertilizers market was predicted to be valued at USD 123.16 billion in 2023.
The global nitrogenous fertilizer market is estimated to be growing at a CAGR of 3.40% to reach USD 145.57 billion by 2028.
Yara International ASA, Agrium In, Coromandel International Ltd, Potash Corp, KOCH Industries Inc, CF Industries Holdings Inc, CVR Partners, Lp, Bunge Ltd, Sinofert Holdings Ltd, Eurochem
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