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Nitrogenous Water Soluble Fertilizer Market 2023-2032: Global Outlook, Production Analysis, Key Drivers And Top Key Players | ICL Specialty Fertilizers, Yara International ASA, K+S Aktiengesellschaft, Agrium, Coromandel International Limited
Nitrogenous Water Soluble Fertilizer Market
The Business Research Company's Nitrogenous Water Soluble Fertilizer Global Market Report 2023 identifies growing popularity of commercial agriculture as the major driver for the Nitrogenous Water Soluble Fertilizer Market's growth in the forecast period. Agriculture refers to the large-scale production of crops and livestock to sell them and generate profit. Agriculture practices often use nitrogenous water-soluble fertilizers as part of their nutrient management practices, hence driving the growth of the nitrogenous water-soluble fertilizer market.
The global nitrogenous water soluble fertilizer market size is expected to grow from $56.61 billion in 2022 to $60.97 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global nitrogenous water soluble fertilizer market size is expected to reach $78.83 billion in 2027 at a CAGR of 6.6%.
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Major competitors in the nitrogenous water soluble fertilizer market are ICL Specialty Fertilizers, Yara International ASA, K+S Aktiengesellschaft, Agrium, Coromandel International Limited, Sociedad Química y Minera de Chile, The Mosaic Company, Nutrient Ltd., COMPO GmbH, EuroChem Group AG, BASF SE, Adama Agricultural Solutions, Uralchem Group, Nufarm, and Qatar fertilizer Company.
A key trend in the Nitrogenous Water Soluble Fertilizer Market includes technological advancement. Major companies operating in the nitrogenous water-soluble fertilizer market are innovating new technologies to sustain their position in the market. For instance, in September 2022, Yara International, a Norway-based chemical company that manufactures fertilizers, launched the YaraIrix system for nitrogen water-soluble fertilizer. The YaraIrix system comes with a free app (for Android and iOS) that users can download and use to calculate the nitrogen requirements of various crops throughout their early growth phases. The app is supported by two hardware alternatives (a smartphone clip and a Bluetooth N-Tester) for subsequent growth phases. After taking a measurement, the software immediately recommends how much fertilizer the crops require. The N-Tester Clip can be used to boost the system. The hardware accessory converts the smartphone camera into a nitrogen sensor by clipping it on.
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The Nitrogenous Water Soluble Fertilizer Market is segmented -
By Type: Macroelement WSF, Microelement WSF, Other Types
By Crop Type: Field Crops, Horticultural Crops, Turf And Ornamentals, Other Crop Types
By Form: Dry, Liquid
By Application: Foliar, Fertigation
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Nitrogenous Water Soluble Fertilizer Market.
The Business Research Company's "Global Nitrogenous Water Soluble Fertilizer Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Nitrogenous Water Soluble Fertilizer Market Include:
1. Executive Summary
2. Nitrogenous Water Soluble Fertilizer Market Characteristics
3. Nitrogenous Water Soluble Fertilizer Market Trends And Strategies
4. Nitrogenous Water Soluble Fertilizer Market - Macro Economic Scenario
5. Nitrogenous Water Soluble Fertilizer Market Size And Growth
……
26. Africa Nitrogenous Water Soluble Fertilizer Market
27. Nitrogenous Water Soluble Fertilizer Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Nitrogenous Water Soluble Fertilizer Market
29. Nitrogenous Water Soluble Fertilizer Market Future Outlook and Potential Analysis
30. Appendix
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