The global nitrogen fertilizer market reached a valuation of USD 69 billion in 2018 and is expected to witness a significant amount of growth during the forecast period. This report on the nitrogen fertilizer market comprises of all the vital factors such the size, share, demand, CAGR, gross profits, earnings, and revenue to evaluate the rise of the industry in the future. It asses the data gathered from the past years 2016 and 2017 to give an extensive view of the trends and predicts the possible rise of the industry during the years 2019 to 2026 while considering 2018 as the base year.
Nitrogen increases the growth rate and development of plants, including the color and texture of the plants. Thus, nitrogen fertilizers are widely used throughout the world. Nitrogen fertilizers are made from ammonia using the Haber-Bosch process. The other components include animal manure and compost, among others. Substantial demand for nitrogen fertilizers stems from the agricultural sector. As the need for food will never decrease, the need for nitrogen fertilizers will continue to grow. The demand for food supply across the globe is the primary driving factor of the nitrogen fertilizer market. The benefits associated with nitrogen fertilizers such as higher productivity and subsequent yield compared to other fertilizers are also driving the demand of the nitrogen fertilizers. The government support and funding for the usage of advanced techniques and fertilizers is another driving factor of the nitrogen fertilizers market.
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Top Players in the Global Nitrogen Fertilizer Market:
- Yara International ASA
- CF Industries Holdings Inc.
- PJSC Togliattiazot
- Nutrien Ltd.
- EuroChem Group
Due to the growing inclination towards organic food, which is produced without any chemical components and is mostly produced using natural components or biofertilizers may hinder the growth in the coming years. The extensive use of nitrogen fertilizers has created adverse effects on the environment. It can affect the soil, surface water, and groundwater due to the dispersion of mineral use. Moreover, only a fraction of nitrogen fertilizers is converted into nitrogen, and most of it is accumulated in the soil. Overall, the fluctuation of the required raw materials and the health and environmental concerns are the major restraining factors on the growth of the market.
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Market segmentation based on Type Outlook:
- Calcium Ammonium Nitrate (CAN)
- Ammonium Nitrate
- Ammonium Sulphate
- Grains and Cereals
- Pulses and Oilseeds
- Fruits and Vegetables
- Turf and Ornamentals
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Nitrogen Fertilizer market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Nitrogen Fertilizer market?
- Which regional market is expected to lead in terms of revenue share in the global Nitrogen Fertilizer market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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