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Nitrogen Fertilizer Market Strategic Developments 2023 | Emerging Trends And Growth, Key Drivers Report To 2032
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032The Business Research Company's Nitrogen Fertilizer Global Market Report 2023 identifies governments are investing to uplift the agricultural sector, thereby contributing to the growth in demand for fertilizers as the major driver for the Nitrogen Fertilizer market's growth in the forecast period. The government also announced 30 urea factories will get fixed costs at a rate of $4.74 (Rs 350) per metric ton. India imports more than 50 lakh ton of urea, worth more than a billion dollars every year. The government initiative aims to boost domestic production of urea and cut imports. Therefore, such initiatives in different countries are expected to promote the agricultural sector, thus driving the nitrogen fertilizer market.
The global nitrogen fertilizer market size will grow from $87.48 billion in 2022 to $91.97 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. 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 market size of global nitrogen fertilizer is expected to grow from $111.84 billion in 2027 at a CAGR of 5.0%.
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Major competitors in the Nitrogen Fertilizer market are Yara International, CF Industries Holdings Inc., PJSC Togliattiazot, Nutrien Inc., OCI NV, Coromandel International Ltd.
A key trend in the Nitrogen Fertilizer market includes government initiative. The nitrogen fertilizer market is witnessing rapid growth in the fertilizer market as it controls air pollution by catalytic reaction. Urea is an easily water-soluble compound that consists of 46% nitrogen and can be stored, transported, and handled easily.
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The Nitrogen Fertilizer market is segmented -
1) By Type: Urea, Calcium Ammonium Nitrate (CAN), Ammonium Nitrate, Ammonium Sulphate, Ammonia, Other Nitrogenous Fertilizers
2) By Form: Liquid, Dry, Other Forms
3) By Treatment: Soil, Foliar, Fertigation, Other Treatments
4) By Application: Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Nitrogen Fertilizer market.
The Business Research Company's "Global Nitrogen 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 Nitrogen Fertilizer Market Include:
1. Executive Summary
2. Nitrogen Fertilizer Market Characteristics
3. Nitrogen Fertilizer Market Trends And Strategies
4. Nitrogen Fertilizer Market - Macro Economic Scenario
5. Nitrogen Fertilizer Market Size And Growth
……
27. Nitrogen Fertilizer Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Nitrogen Fertilizer Market
29. Nitrogen Fertilizer Market Future Outlook And Potential Analysis
30. Appendix
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