Press Release
Press Release
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.
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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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