The North America Nitrogenous Fertilizers Market was worth 29.9 billion in 2021 and estimated to be growing at a CAGR of 3.25%, to reach 35.09 billion by 2026. Nitrogen aids in rapid growth and imparts better texture and color to plants and thus enhances agricultural output. In spite of plenty of nitrogen in the environment, only a few plants have the capability to absorb and use the same. Nitrogenous fertilizers are inorganic in nature and are usually employed in the agriculture industry. The richness of the soil and the kind of crop used are the aspects that decide the extent of nitrogenous fertilizers required.
Drivers and Restraints of North America Nitrogenous Fertilizers Market:
The growth of the North America Nitrogenous Fertilizers market is majorly driven by factors such as increasing population and high efficiency of nitrogenous fertilizers. However, issues such as an increase in the cost of raw materials and various environmental and health hazards linked with nitrogen-based fertilizers are the major restraining factors for the market.
North America Nitrogenous Fertilizers Market - By Ingredients:
North America Nitrogenous Fertilizers Market - By Application:
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.
The Market is Geographically divided into:
North America is the second largest market for nitrogenous Fertilizers with a global share of 26%. Widespread research & expansion activities by all major companies to grow more effective and eco-friendly nitrogenous fertilizers is a major factor driving the market growth in this region.
The market for Nitrogenous fertilizers is extremely consolidated and streamlined owing to the existence of only a handful of companies.