Nitrogenous Fertilizers Market Size, Trends and Its Emerging Opportunities Through 2027

Posted by aartimurkute on July 20th, 2022

Nitrogenous fertilizers are used to enhance the quality of a crop by adding the necessary nutrients to the soil. Agricultural market players are actively adding nitrogenous fertilizers to their crops to improve the yield. In addition to this, the exponential growth in the population across the globe is surging the demand for food. To substantiate this perpetually growing demand for food, several governments are constantly incentivising the agricultural sector to boost crop production. This has translated into tremendous opportunities for the global nitrogenous fertilizers market. Major players in the market are extending their portfolios and leveraging the latest technology such as drones to perform the digital transformation of the production techniques of fertilizers. During the forecast period, the global nitrogenous fertilizers market is predicted to be lucrative with considerable adoption in agricultural production.

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Notable Growth in Agriculture Industry to Create Tailwinds for Nitrogenous Fertilizers Market Expansion 

Agricultural activities are rising across the globe due to the growing consumption of agricultural products including fruits, vegetables, cotton, and cereals. Several agricultural producers are incorporating nitrogenous fertilizers to enhance their crop yield. These fertilizers provide necessary nutrition to the crops and meet the productivity demands of the market. The remarkable benefits of using fertilizers in crop production and upscaling demand for food are enabling governments to provide remunerative incentives to facilitate the growth of the agriculture sector. The growth of the agriculture industry, in turn, has accelerated the worldwide demand for nitrogenous fertilizers owing to their proven benefits. Subsequently, the nitrogenous fertilizers market is set to expand with growing demand for food and substantial productivity enhancements.

High Demand for Ammonium Nitrate to Open Avenues for Novel Growth 

Urea is the most affordable nitrogenous fertilizer which easily dissolves in water. Such traits of urea are projected to drive its demand in the plant nutrition business across the globe. Besides, the countries with abundant natural gas are among the most prominent exporters of urea. On the other end, the demand for ammonium nitrate/UAN has exhibited a remarkable boost in demand. These nitrate-based fertilizers are highly efficient and produce less greenhouse gas emissions in comparison to other fertilizers. An appropriate blend of nitrogen and ammonium facilitates an effective balance of nitrogen in plant nutrition, elevating the demand for ammonium nitrate fertilizers. The demand for urea and ammonium nitrate fertilizers is expected to create headways for the holistic growth of the nitrogenous fertilizers market globally.

Soaring Demand for Food Propels Asia Pacific to Market Leadership Position 

The extensive availability of agricultural land and desirable climatic conditions are creating lucrative opportunities across the nitrogenous fertilizers market in the Asia Pacific (APAC). Furthermore, a sizeable rural population, rising demand for food, and growing emphasis on food security are expected to expand the growth of the regional market. Notably, some of the leading international nitrogen fertilizer manufacturers are beginning to set up their manufacturing units in Asian countries. During the forecast period, the market in APAC is anticipated to flourish due to the region's growing population and economic expansion.

Key Market Players

Most prominent players operating in the global nitrogenous fertilizers market include EuroChem Group AG, Yara International ASA, Koch fertilizer LLC, CF Industries Holdings, and Nutrien [Agrium (Canada), and Potash Corp. of Saskatchewan (Canada)].

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