The global nitrogenous fertilizers market size is projected to reach USD 85.4 billion by 2025, exhibiting a CAGR of 4.5% over the forecast period, according to a new report by Grand View Research, Inc. Nitrogen is considered as an important ingredient in the manufacturing of fertilizers, owing to its nutritional properties. Increase in the global population has resulted in the rise in the annual crop yield, which has boosted agriculture sector across the globe.
Urea, ammonia, and ammonium sulfate are the key nitrogenous fertilizers and anticipated to witness significant growth over the forecast period. Ammonium sulfate is a slow nitrogenous fertilizer with approximately 20.6% nitrogen and it is also a rich source of sulfur. It is often sprayed post herbicide application, which prevents weed growth. It is often applied to flooded soil and preferred by rice farmers.
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Ammonium sulfate is anticipated to witness significant growth in terms of revenue over the forecast period with a CAGR of 4.2%. Its multiple nutrient content, which makes it suitable for a wide range of crops, is anticipated boost its demand over the coming years. Urea is projected to witness considerable growth rate as it is one of the most inexpensive and widely used types of nitrogenous fertilizers.
North America market is majorly driven by steady growth in the demand for nitrogenous fertilizers from the U.S. and Canada. The decrease in operating capacity of ammonia and urea coupled with easy supply of natural gas is expected to impact the production of fertilizers. Most of the economies in Europe and North America are practicing new and innovative farming technologies resulting in improved crop yields. The R&D efforts aimed at developing new nitrogenous fertilizers are expected to augment the demand further.
Further key findings from the study suggest:
- Urea product segment is projected to ascend at a CAGR of 5.3%, in terms of revenue, from 2019 to 2025
- Cereals & grains application dominated the market with a revenue share of 39.5% in 2018 owing to high crop rotation activity in these segments. These crops have a high demand as they are extensively used in the manufacturing of end products such as bread, pasta, and flour
- India is the second-largest market for nitrogenous fertilizers after China in Asia Pacific and anticipated to reach 8.4 billion by 2025 owing to the high availability of fertile land and rural population indulged in agricultural activities
- Major nitrogenous fertilizers market players producing nitrogenous fertilizers are focusing on expansion strategies to strengthen their market position. For instance, in December 2018, EuroChem Group AG started production of urea ammonium sulfate from its new facility at Novomoskovskiy Azot plant in Moscow, Russia, with a capacity of 600 tons per day.
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Grand View Research has segmented the global nitrogenous fertilizers market on the basis of product, application, and region.
Nitrogenous Fertilizers Product Outlook (Volume, Thousand Tons; Revenue, USD Million, 2014 – 2025)
- Urea
- Ammonium Nitrate
- Ammonium Sulfate
- Ammonia
- Calcium Ammonium Nitrate (CAN)
- Others
Nitrogenous Fertilizers Application Outlook (Volume, Thousand Tons; Revenue, USD Million, 2014 – 2025)
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
Nitrogenous Fertilizers Regional Outlook (Volume, Thousand Tons; Revenue, USD Million, 2014 – 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Argentina
- Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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