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Nitrogenous Fertilizer Market to Record 9.4% CAGR Growth Through 2029 | Global Analysis Report
Nitrogenous Fertilizer
Nitrogenous Fertilizer Market Outlook: How is the Market Expected to Grow by 2025?
The market size of nitrogenous fertilizers has seen a robust increase in the past few years. It is anticipated to surge from $78.65 billion in 2024 to $84.29 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 7.2%. The escalations in the previous period are credited to factors such as population surge, agricultural sector development, farming mechanization, government grants, and economic progression.
Nitrogenous Fertilizer Market Forecast: What Size Will It Reach By 2029?
Expectations are high for the nitrogenous fertilizer market to experience robust growth in the approaching years, with a projected value of $120.53 billion by 2029, reflecting a compound annual growth rate (CAGR) of 9.4%. Factors contributing to this growth during the forecast period include increased emphasis on global food security, the growing implementation of precision agriculture methods, more common use of crop rotation practices, and broad infrastructure development. Key trends to watch in the forecast period include the rise of customized fertilizer blends, carbon sequestration, nutrient management methods, and organic and natural fertilizers.
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Which Key Market Drivers Will Shape Nitrogenous Fertilizer Industry Trends in 2025-2029?
The growth of the nitrogenous fertilizers market is being propelled forward due to the escalating demand for fertilizers. These fertilizers contain chemical constituents that play a vital role in enhancing plant growth and production. Their demand is relentlessly rising due to their capacity to replenish chemical elements that were removed from the soil by past crops or enhance the inherent fertility of the land. Nitrogenous fertilizers hold the position as the most frequently utilised source of plant nitrogen nourishment. For example, in the year 2022, a report from the United Nations Environment Program stated that over the preceding decades, a substantial global increase has been seen in the demand, production, and consumption of pesticides and fertilizers. It is anticipated that by 2025, overall global sales will undergo approximately 4.1% growth, leading to a total of USD 309 billion. Thus, with the rising demand for fertilizers, experts predict a parallel increase in demand for the nitrogenous fertilizers market in the following years.
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What Are the High-Growth Segments in the Nitrogenous Fertilizer Market?
The nitrogenous fertilizer 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
Subsegments:
1) By Urea: Granular Urea, Prilled Urea, Liquid Urea
2) By Ammonium Nitrate: Granular Ammonium Nitrate, Liquid Ammonium Nitrate, Ammonium Nitrate Solution
3) By Ammonium Sulfate: Granular Ammonium Sulfate, Liquid Ammonium Sulfate
4) By Calcium Ammonium Nitrate (CAN): Granular CAN, Liquid CAN
5) By Other Types: Sodium Nitrate, Potassium Nitrate, Mixed Fertilizers, Organic Nitrogen Fertilizers
Which Global Trends Are Driving Nitrogenous Fertilizer Market Expansion?
Nanotechnology is becoming an increasingly important trend in the nitrogenous fertilizers market. It refers to the engagement with science, engineering, and technology on a nanoscale, between 1 and 100 nanometers. Companies in the nitrogenous fertilizers market are harnessing nutrient-dense nanoparticles to create and manufacture nitrogenous fertilizers on a nano scale. These nano fertilizers hold several benefits over traditional fertilizers, including the enhancement of soil fertility and crop quality, being non-toxic, less risk to humans and the environment, cost reduction, and heightened profitability. In February 2023, the Indian Farmers Fertiliser Cooperative Limited (IFFCO) publicized that it was awarded a 20-year patent for its Nano Nitrogen-Phosphorus containing fertilizer. This fertilizer aims for improved use of nitrogen and phosphorus nutrients in crops and encourages sustainable and profitable farming. It presents an innovative formula signaling a notable shift in agricultural technology, with a focus on improving nutrient uptake and efficiency for superior crop yields.
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Who Are the Fastest-Growing Companies in the Nitrogenous Fertilizer Industry?
Major companies operating in the nitrogenous fertilizer 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.
What Is the Regional Outlook for the Nitrogenous Fertilizer Market by 2029?
Asia-Pacific was the largest region in the nitrogenous fertilizers market in 2024, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the nitrogenous fertilizer market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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