Nitrogenous Fertilizers Market: Huge Growth to be Witnessed in Revenue by 2028 - Exclusive Forecast Report by Stratagem Market Insights

Seattle, United States: According to a recent market research study "Nitrogenous Fertilizers Market By Type (Urea, Ammonium Nitrate, Ammonium Sulfate, Calcium ammonium nitrate (CAN), Others), By Application (Soil, Foliar, Fertigation, Others (aerial application, basal application, and starter solution)), and By Region (North America, Asia-pacific, Europe, Latin America, the Middle East, and Africa) - Global Growth, Trends, and Forecast to 2028", published by Stratagem Market Insights, The Nitrogenous Fertilizers market rise in demand from emerging economies and the growth of the organized industry sector create growth opportunities for the market.

📌 Segmentation by Type:

The type segment contributed the largest share to the global Nitrogenous Fertilizers market in 2021; this segment is projected to grow at the highest CAGR from 2022 to 2028.

✤ Urea
✤ Ammonium Nitrate
✤ Ammonium Sulfate
✤ Calcium ammonium nitrate (CAN)
✤ Others

📌 Segmentation by Application:

An end-use industry is projected to grow at the highest CAGR during the forecast period, due to rapid development in emerging economies North America, APAC, MEA, Europe, and RoW.

✤ Soil
✤ Foliar
✤ Fertigation
✤ Others (Aerial application, Basal application, and Starter solution)

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Moreover, the report also provides Value Chain Analysis which helps companies gain a competitive advantage in the market. The Value Chain of the Nitrogenous Fertilizers Market includes the following core components:

The value chain of the Nitrogenous Fertilizers market includes the following core components:

✦ Inputs
✦ Operations
✦ Distribution and logistics
✦ Marketing and sales
✦ Aftermarket and service
✦ Industry innovations

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Highlights -

Segmentation - The report extensively covers market segmentation by Type (Urea, Ammonium Nitrate, Ammonium Sulfate, Calcium ammonium nitrate (CAN), Others) and Application (Soil, Foliar, Fertigation, Others (aerial application, basal application, and starter solution))

Key Companies - Yara International ASA (Norway), CF Industries Holdings (US), Nutrien [Agrium (Canada) and Potash Corp. of Saskatchewan (Canada)], EuroChem Group AG (Switzerland)

Driver - Growing investments in Nitrogenous Fertilizers industry to drive the market

Challenge - Declining costs to hamper the market growth

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Leading Players Insights -

The Nitrogenous Fertilizers Market is concentrated and the players are deploying growth strategies such as focusing on improving their sales, distribution, and working capital effectively to compete in the market.

✤ Yara International ASA (Norway)
✤ CF Industries Holdings (US)
✤ Nutrien [Agrium (Canada) and Potash Corp. of Saskatchewan (Canada)]
✤ EuroChem Group AG (Switzerland)

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Overview of the Nitrogenous Fertilizers Market:

Nitrogenous fertilizers are important fertilizers because most crop plants require nitrogen throughout their growth cycle. The main source of N is the ammonium sulphate, which is highly soluble in water. This compound does not leach into the soil, and the absorbed ammonium is converted into nitrates by microbes. The plants then utilize the nitrates, leaving the remaining sulphate (S04) in the soil.

Rise in the agriculture sector and growing demand for high yield crop production are major factors expected to expand nitrogenous fertilizers market size. They are majorly used in vegetables, fruits, cereals, and cotton. Variation in climatic conditions and change is demand &supply for crop is increasing using nitrogen-based fertilizers. This is, in turn, augmenting the market growth. Moreover, increasing the production capacity of nitrogen fertilizers is further anticipated to propel market growth. For instance, in May 2017, the Iowa Fertilizer Company (IFCo) announced the start of production at its plant in Wever, Iowa. The $3 billion plant is estimated to produce 1.5 to 2 million metric tons (MMmt) of nitrogenous fertilizer products annually, using natural gas as both a feedstock and a fuel.

Asia Pacific is expected to gain significant growth over the forecast period owing to the strong presence of the agriculture industry in the region. The Economic Survey of India 2020-21 report stated that in FY20, the total food grain production in the country was recorded at 296.65 million tons-up by 11.44 million tons compared with 285.21 million tons in FY19.

Key Developments:

✤ In November 2019, IFFCO introduced its 'nano-technology' based products - nano nitrogen, nano zinc and nano copper for on-field trials as part of its efforts to cut usage of chemical fertilizers and boost farmers' income.

✤ In July 2021, Pivot Bio, a nitrogen innovator in agriculture, announced the close of a $430 million Series D funding led by DCVC and Temasek, bringing the total equity raised to more than $600 million.

✤ In February 2020, the U.S. Environmental Protection Agency (EPA) announces two nitrogenous fertilizer plants as the first of their kind to earn EPA's ENERGY STAR certification for superior energy performance

✤ In June 2019, ADNOC Fertilizer partnered with OCI's Middle East and North Africa (MENA) nitrogen fertilizer platform to form a new joint venture. The joint venture the largest export-focused nitrogen fertilizer platform globally and the largest producer in the MENA region.

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