According to our latest market study on “COVID-19 Impact and Global Nitrogenous Fertilizer Market to 2027 - Analysis and Forecast by Type (Urea, Ammonium Nitrate, Ammonium Sulfate, Ammonia, Calcium Ammonium Nitrate, and others), Form (Dry and Liquid), Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, and Others), Mode of Application (Soil, Foliar, and Fertigation), and Geography,” the market was valued at US$ 72,537.6 million in 2018 and is projected to reach US$ 1,00,304.4 million by 2027; it is expected to grow at a CAGR of 3.7% from 2019 to 2027. The report highlights key factors driving the market growth, and prominent players along with their developments in the market.
Report Coverage Details
Market Size Value in- US$ 72,537.57 Million in 2018
Market Size- US$ 100,304.42 Million by 2027
Growth rate- CAGR of 3.7% from 2019-2027
Forecast Period- 2019-2027
Base Year- 2019
No. of Pages- 200
No. Tables- 109
No. of Charts & Figures- 92
Historical data available- Yes
Segments covered- Type , Form , Crop Type , Mode of Application , and Geography
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Nitrogen fertilizer is one of the most regular fertilizer categories produced with different chemical combinations of nitrogen; the fertilizers are commonly available in three forms—ammonia, nitrate, and urea. Once applied to the fields the fertilizers are absorbed by plants are converted into various other forms through chemical reactions. Their application helps confer better texture and color to plants, thus improving agricultural productivity. The Haber Bosch process is considered to be the most preferred technique for the production of nitrogenous fertilizers. Natural gas is one of the significant raw materials used in the Haber Bosch process, along with other materials such as animal manure and compost. The increase in population is capitalizing the food security needs, which emphasizes the need to use such fertilizers to supply essential nutrients in soil to promote the soil quality, ultimately leading to higher yields.
Impact of COVID-19 Pandemic on Nitrogenous Fertilizer Market
The COVID-19 outbreak was first reported in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the globe. As of June 2020, US, Brazil, India, Russia, Spain and the UK are a few of the worst-affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverages is one the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak.
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The nitrogenous fertilizer market, based on type, is segmented into urea, ammonium nitrate, ammonium sulfate, ammonia, calcium ammonium nitrate, and others. The urea segment accounted for the largest share of the global market in 2018, whereas the market for ammonium sulfate is expected to grow at the highest CAGR during the forecast period. Urea is freely soluble in water and is among the cheapest nitrogenous fertilizers, considering the per-unit cost of nutrients. It is offered in solid, white, granular, and slightly hygroscopic form. It is also applied in solution form as a spray. Most of the crops react effectively to the urea application. Upon application to the soil, urea undergoes decomposition in the presence of urease enzyme synthesized by soil microorganisms. The conversion of urea into nitrate, as a result of a complete decomposition, takes place in about one week’s time. Urea is relatively resistant to leaching.
The global Nitrogenous Fertilizer market by geography is segmented into five regions, including North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America held the largest share of the global Nitrogenous Fertilizer market.
Nitrogenous Fertilizer Market: Competitive Landscape and Key Developments
Bunge Limited; CF Industries Holdings, Inc.; EuroChem Group; Koch Fertilizer, LLC; Nutrien Ltd; OCI Nitrogen; SABIC Group; Sinofert; Togliattiazot (TOAZ); and Yara International ASA. are among the key players in the global Nitrogenous Fertilizer market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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