The Global Nitrogenous Fertilizers Market Is Predicted To Reach Global 136.15 USD Billion With A CAGR Of 3.40% According To Market Data Forecast Report

The Global Nitrogenous Fertilizers Market Is Predicted To Reach Global 136.15 USD Billion With A CAGR Of 3.40% According To Market Data Forecast Report

ID: 921 | April 2018 | Region: Global

The Global Nitrogenous Fertilizers Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Global Nitrogenous Fertilizers Market is estimated to be 115.19 USD billion and predicted to rise to 136.15 USD billion with a CAGR of 3.40%. The market is segmented by Ingredient (Urea, Ammonium Nitrate, Ammonium Chloride, Sodium Nitrate, Ammonium Sulphate, Calcium Nitrate, Calcium Ammonium Nitrate (CAN), Other Nitrogenous Fertilizers), and by Application (Crop Based-Oil seeds, Fruits & Vegetables, Grains & Cereals; Non Crop Based-Turf & Ornamental Grass and Others). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

The growth of the Global Nitrogenous Fertilizers market is majorly driven by factors such as globally increasing population, rising disposable income, and high efficiency of nitrogenous fertilizers. However, different regulatory structures, volatile economies, and various environmental and health hazards linked with nitrogen-based fertilizers are the major restraining factors for the market. Also, an increase in the cost of raw materials is a major challenge for the companies in the market.

Urea-based nitrogenous fertilizers are leading the ingredient segment in terms of consumption. However, Ammonium nitrate is projected to be the fastest growing segment during the forecast period. By application, Grains such as rice and corn lead the global market for nitrogenous fertilizer and this trend is anticipated to remain during the forecast period.

Asia Pacific has been leading the global nitrogenous fertilizer market and this trend is projected to stay in the near future. North America is the second major consumer of nitrogenous fertilizers, followed by Europe. Demand for nitrogenous fertilizer in North America and Europe is expected to grow at a slow rate largely due to market saturation. Growing demand for nitrogenous fertilizer in South America is anticipated to offer huge growth prospect for the market.

The global market for Nitrogenous fertilizers is extremely consolidated and streamlined owing to the existence of only a handful of companies. The major companies dominating this market are Yara International ASA, Agrium Inc., Coromandel International Ltd., Potash Corp., KOCH Industries Inc., CF Industries Holdings Inc., CVR Partners, Lp., Bunge Ltd., Sinofert Holdings Ltd. and Eurochem.

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