Global Nitrogenous Fertilizer Market

Nitrogenous Fertilizer Market Size, Share, Growth Analysis, By Product(Urea, ammonium nitrate, ammonium sulfate, methylene urea), By Application (Cereals & grains, oilseeds & pulses, fruits & vegetables, and others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15A2101 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 68 | Figures: 75

Nitrogenous Fertilizer Market Dynamics

Nitrogenous Fertilizer Market Driver

  • The increased use of nitrogenous fertilizers in various agricultural products such as cereals, cotton, fruits, and vegetables is driving market growth. Nitrogenous crops have seasonal demand, as do many other crops. Crop production levels are heavily influenced by the weather, which influences supply and demand for nitrogenous fertilizers based on the season.

Nitrogenous Fertilizer Market Restraint 

  • The most commonly used nitrogen fertilisers are expected to be leached into groundwater and washed into waterways as a result of the heavy rainfall, causing severe environmental and economic damage. To address these issues, the Western Australian Government recommended that nitrogenous fertilisers not be applied near streams or drains; that they be applied when the pasture is actively growing and can use the fertilizers; and that they be avoided in winter. These solutions are expected to lessen the impact of nitrogen fertiliser overuse.
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Nitrogenous Fertilizer Market size was valued at USD 57.8 billion in 2019 and is poised to grow from USD 60.98 billion in 2023 to USD 92 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).

nitrogenous fertilizer market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Yara International ASA', 'The Mosaic Company', 'CF Industries Holdings, Inc.', 'Nutrien Ltd.', 'EuroChem Group AG', 'OCI Nitrogen BV', 'SABIC', 'Agrium Inc.', 'PotashCorp', 'Bunge Limited', 'Haifa Chemicals Ltd.', 'Coromandel International Ltd.', 'Koch Industries, Inc.', 'Sinofert Holdings Limited', 'Zuari Agro Chemicals Ltd.', 'Israel Chemicals Ltd.', 'Indian Farmers Fertilizer Cooperative Limited (IFFCO)', 'Uralkali', 'Qingdao Sonef Chemical Company Limited', 'K+S AG'

The increased use of nitrogenous fertilizers in various agricultural products such as cereals, cotton, fruits, and vegetables is driving market growth. Nitrogenous crops have seasonal demand, as do many other crops. Crop production levels are heavily influenced by the weather, which influences supply and demand for nitrogenous fertilizers based on the season.

Due to its rising compatibility with pesticides, herbicides, growth regulators, and other nutrients, urea-ammonium nitrate, a popular type of nitrogenous crop-growth enhancer, is rapidly gaining traction among liquid fertiliser manufacturers. The use of liquid fertilisers allows a farmer to save money by implementing several crop production and protection products at the same time rather than making several separate applications. Because they apply more smoothly and uniformly than non-liquid nitrogenous fertilisers, urea-ammonium nitrate solutions are widely utilized as a nitrogen source for plants.

Due to a larger available area for cultivation, favourable climate conditions, and a higher rural population, the Asia Pacific region is expected to maintain its dominant position during the forecast period. Due to increased demand and a growing emphasis on food security, major multinational nitrogenous fertilizer manufacturers are establishing manufacturing units in Asia Pacific countries like China, India, Japan, and others. China is the world's largest consumer of the product, accounting for roughly one-third of total product consumption. These fertilizers play an important role in ensuring China's food security by allowing for greater growth in both non-grain and grain yields.

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Global Nitrogenous Fertilizer Market

Report ID: SQMIG15A2101

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