Nitrogenous Fertilizers Market

Global Nitrogenous Fertilizers Market Size (2023 to 2028)

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.

Global Nitrogenous Fertilizer Market Share Insights:

• Based on ingredients, the urea segment dominated the market in 2022.
• Based on application, the crop-based agents segment accounted for the largest share of the global market in 2022.
• Based on region, the Asia Pacific held the largest share of the global nitrogenous fertilizers market in 2022.

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:

This research report on the global nitrogenous fertilizer market has been segmented and sub-segmented into the following categories:

Nitrogenous Fertilizers Market - By Ingredients:

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

Nitrogenous Fertilizers Market - By Application:

• Crop Based
• Oilseeds
• Fruits & Vegetables
• Grains & Cereals

Nitrogenous Fertilizers Market - Non Crop:

• Turf & Ornamental Grass

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:

• North America
• Europe
• Asia-Pacific
• Rest of the World

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