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Global Nitrogenous Fertiliser Market to Grow at a CAGR of 4% During 2022-2027, Aided by the Growing Demand in the Agriculture Sector

According to a new report by EMR titled, ‘Global Nitrogenous Fertiliser Market Report and Forecast 2022-2027’, the market attained a value of about USD 68 billion in 2020. The market for nitrogenous fertiliser is further expected to grow at a CAGR of 4% in the forecast period of 2022-2027.

The global nitrogenous fertiliser industry is being driven by the rising demand for effective fertilisers in the agriculture sector. This can be attributed to the increased crop production activities, especially in countries like India and China, where the demand for food is surging as a result of the growing population. This trend is further being supported by the growing government expenditure to support the adoption of advanced agricultural equipment and fertilisers to enhance crop production. Furthermore, the dearth of farming lands is resulting in the increased utility of nitrogenous fertilisers for better and faster yield, while also helping to replenish the soil fertility.

The growing investments by the leading market players to expand their production capacities through strategies like mergers and acquisitions are expected to bolster the market growth in the forecast period. For instance, in June 2019, OCI N.V. (Euronext: OCI) and Abu Dhabi National Oil Company (ADNOC) announced a strategic partnership to form a joint venture (JV), which would be the largest export-focused nitrogen fertiliser platform globally. Under this venture, ADNOC will combine its fertiliser business, ADNOC Fertilizers, with OCI’s Middle East and North Africa nitrogen fertiliser platform. Meanwhile, in April 2022, CF Industries Holdings Inc. (NYSE: CF) announced its plans to increase its overseas shipments to regions witnessing a fertiliser shortage, as supplies fell from Russia, including Latin America, one of the most important crop producing regions of the world.

Market Breakup by Product Type, Form, Crop Type, Application, and Region:

  • The market is divided, based on product type, into ammonium nitrate, ammonia, ammonium sulphate, calcium ammonium nitrate, and urea, among others. 
  • On the basis of form, the market can be distributed into dry, and liquid, among others.
  • Based on crop type, the industry is segregated into fruits and vegetables, grain and cereals, turf and ornamentals, and pulses and oilseeds, among others. 
  • The industry is segmented, on the basis of application, into soil, foliar, and fertigation, among others.
  • Region-wise, the global market for nitrogenous fertiliser can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for nitrogenous fertiliser is being driven by the increased demand for effective fertilisers in the agriculture sector. 
  • The growing global population has significantly contributed to the market expansion. 
  • Increased popularity of urea and ammonium sulphate fertilisers is also aiding the industry growth. 
  • The growing government expenditure in strengthening crop production is further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for nitrogenous fertiliser for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the product types, forms, crop types, applications, and regions of nitrogenous fertiliser.
  • It assesses the regional price trends for the (2017-2021) and (2022-2027) periods.
  • The market report also analyses the trade data by covering the major importing and exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global nitrogenous fertiliser market are Yara International ASA, Bunge Limited, SABIC, EuroChem Agro GmbH, URALCHEM Holding PLC, PJSC Togliattiazot, and OCI N.V., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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