Press release
Nitrogenous Fertilizer Market Size, Outlook, Insights And Overview 2024-2033
Nitrogenous Fertilizer Market
The nitrogenous fertilizer market size is expected to see strong growth in the next few years. It will grow to $109.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to rise in global food security, rising adoption of precision agriculture, rising crop rotation practices, infrastructure development. Major trends in the forecast period include customized fertilizer blends, carbon sequestration, nutrient management, organic and natural fertilizers.
Market Overview -
Nitrogenous fertilizer refer to mineral and organic substances utilized as a source of nitrogen nutrition for plants. It comprises a chemical composition in which nitrogen makes up a higher percentage than any other nutrient. Nitrogen is present in fertilizers frequently used in crop production as nitrate, ammonia, ammonium, or urea.
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Growing Demand For Fertilizers Fuels Nitrogenous Fertilizers Market
The increasing demand for fertilizers is driving the growth of the nitrogenous fertilizers market. Fertilizers are a substance that contains chemical components that help plants grow and produce more. The demand for fertilizers is constantly increasing, as it has potential to restore chemical elements that previous crops removed from the soil or increase the land's inherent fertility. Nitrogenous fertilizers are the most commonly used source of plant nitrogen nutrition. For instance, in 2022, according to the United Nations Environment Program's report on ""Environmental and health impacts of pesticides and fertilizers and ways of minimizing them,"" over the past few decades, pesticide and fertilizer demand, production, and consumption have increased significantly globally. By 2025, combined global sales are anticipated to expand around 4.1%, totaling USD 309 billion. Therefore, the rise in demand for fertilizers is expected to boost the demand for nitrogenous fertilizers market during the forecast period.
Competitive Landscape -
Major companies operating in the nitrogenous fertilizer market market include Sorfert Algeria Spa, OCI NV, Nutrien Ltd., Yara Fertilisers India Pvt Ltd., Central Farmers Fertilizer Company, Compo Expert Gmbh, Coromandel International Ltd., EuroChem Group AG, Indian Farmers Fertilizer Cooperative Ltd., Koch Industries Inc., Saudi Basic Industries Corp, Wilbur-Ellis LLC, Terra Nitrogen Company L.P., LSB Industries Inc., Shandong Hualu Hengsheng Chemical Co Ltd., Agrium Inc., Potash Corporation of Saskatchewan Inc., AgroLiquid, Agrofert Holding AS, Bunge Ltd., Fertiberia Sociedad Anonima, Haifa Chemicals Ltd., Israel Chemicals Ltd., Kali und Salz GmbH, The Mosaic Company, PhosAgro, Sinochem Hong Kong Holdings Ltd.
Nanoscale For Enhanced Agricultural Benefits
Nanotechnology is a key trend gaining popularity in the nitrogenous fertilizers market. Nanotechnology is the study of science, engineering, and technology at the nanoscale, or between 1 and 100 nanometers. The companies operating in nitrogenous fertilizers are focused on utilizing nutrient-rich nanoparticles for development and manufacturing of nanoscale nitrogenous fertilizers. Nano fertilizers provide several advantages over conventional fertilizers, including increased soil fertility yield and crop quality parameters, nontoxicity and reduced risk to humans and the environment, reduced cost, and increased profitability. In June 2021, the Indian Farmers Fertiliser Cooperative Limited (IFFCO) introduced the Nano Urea Liquid as a substitute for regular urea to deliver nitrogen to plants. It is the only nano fertilizer recognized by the Indian government and listed in the Fertilizer Control Order (FCO).
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Key Segments -
The nitrogenous fertilizer market market covered in this report is segmented -
1) By Type: Urea, Ammonium Nitrate, Ammonium Sulfate, Calcium ammonium nitrate (CAN), Others Types
2) By Crop Type: Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Others Crops
3) By Form: Dry, Liquid
4) By Application: Soil, Foliar, Fertigation, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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