The size of the global nitrogenous fertilizers market is expected to be valued at USD 150.52 billion by 2029 from USD 127.35 billion in 2024, growing at a CAGR of 3.40% from 2024 to 2029. Nitrogen is the most essential nutrient for plants to grow and develop. Though available in abundance in the environment, it is not promptly taken by all plants. Nitrogenous fertilizers are inorganic and are typically utilized in the agriculture industry. It consists of nitrous complexes such as ammonium sulfate, Calcium Nitrate, calcium ammonium nitrate, and other compounds in minute amounts. The soil fertility and the type of crop used are the factors that decide the number of nitrogenous fertilizers required.
Global Nitrogenous Fertilizers Market Drivers:
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 significant challenge for companies in the market.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
3.40% |
Segments Covered |
By Ingredients, Application, Non-Crop, And Region |
Various Analyses Covered |
Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Yara International ASA, Agrium In, Coromandel International Ltd, Potash Corp, KOCH Industries Inc, CF Industries Holdings Inc, CVR Partners, Lp, Bunge Ltd, Sinofert Holdings Ltd and Eurochem |
This research report on the global nitrogenous fertilizers market has been segmented and sub-segmented by ingredients, application, and region.
Global Nitrogenous Fertilizers Market - By Ingredients:
Global Nitrogenous Fertilizers Market - By Application:
Global Nitrogenous Fertilizers Market - By Non Crop:
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; this trend is anticipated to remain during the forecast period.
Global Nitrogenous Fertilizers Market – By Region:
The Asia Pacific has been leading the global nitrogenous fertilizer market, and this trend is projected to stay shortly. 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 slowly due to market saturation. The growing demand for nitrogenous fertilizer in South America is anticipated to offer substantial growth prospects for the market.
Key Market Players:
Major Key Players of the global nitrogenous fertilizers market are Yara International ASA, Agrium In, Coromandel International Ltd, Potash Corp, KOCH Industries Inc, CF Industries Holdings Inc, CVR Partners, Lp, Bunge Ltd, Sinofert Holdings Ltd and Eurochem.
FAQ's
Nitrogenous fertilizers help improve crop yields, promote healthy plant growth, enhance plant protein synthesis, and increase soil nitrogen levels, among other benefits.
Key factors influencing nitrogenous fertilizer prices include the cost of raw materials (such as natural gas for ammonia production), energy prices, global supply and demand dynamics, weather conditions affecting crop production, currency exchange rates, and government subsidies or regulations affecting fertilizer markets.
Growth projections for the nitrogenous fertilizers market depend on various factors such as global population growth, increasing demand for food, technological advancements in agriculture, and government policies regarding fertilizer use and environmental protection. Market research reports and industry analyses can provide insights into future trends and growth prospects.
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