Nitrogenous Fertilizer Market is anticipated to Record a Valuation of USD 100,304.42 Million by 2027 | The Insight Partners

The nitrogenous fertilizer market was valued at US$ 72,537.57 million in 2018 and is expected to grow at a CAGR of 3.7% from 2019 to 2027 to reach US$ 100,304.42 million by 2027. Nitrogen fertilizer is one of the most regular fertilizer categories produced with different chemical combinations of nitrogen; the fertilizers are commonly available in three forms - ammonia, nitrate, and urea. Once applied to the fields the fertilizers are absorbed by plants are converted into various other forms through chemical reactions. Their application helps confer better texture and color to plants, thus improving agricultural productivity.

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The List of Companies - Global Nitrogenous Fertilizer Market

Bunge Limited
CF Industries Holdings, Inc.
EuroChem Group
Koch Fertilizer, Llc
Nutrien Ltd.
OCI Nitrogen
SABIC Group
Sinofert
TOGLIATTIAZOT (TOAZ)
Yara International ASA

The agricultural facilities in Africa are still at developing phase, wherein the crops are generally deprived off certain nutrients. Also, the region has limited access to nitrogen fertilizers, generally due to their high costs. In East Africa, farmers use biomass as affordable fertilizers to supplement the demand of essential nitrogen in the plants.

However, the increasing government investments on the agriculture sector, along with increasing penetration of manufacturers in the region, is expected to boost the utilization of such fertilizers in the coming years. Further, the demand for nitrogenous fertilizers is also rising from developing Asia Pacific economies.

Rapid urbanization, along with growing need for food security, has propelled the utilization of such fertilizers to boost the agricultural productivity. Further, the rise in production of sugarcane and corn in South America is expected to drive the demand for nitrogenous fertilizers in this region during the forecast period.

The COVID-19 outbreak has been affecting economies and industries in various countries such as the US, China, Russia, India, Italy, Iran, and Spain. Chemicals and materials is one the world's major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak.

China is the global manufacturing hub and is the largest raw material supplier for various industries; it is also one of the worst-affected countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various chemical and materials. These factors are anticipated to hinder the growth of the chemical and materials industry, thus restraining the growth of various markets related to this industry in the coming months.

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