SAN FRANCISCO, Oct. 1, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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.
Read 115 page research report with ToC on "Nitrogenous Fertilizer Market Size, Share & Trends Analysis Report By Product (Urea, Ammonium Nitrate), By Application (Cereals & Grains, Oilseeds & Pulses), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/nitrogenous-fertilizer-market
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.
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.
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)
- Ammonium Nitrate
- Ammonium Sulfate
- Calcium Ammonium Nitrate (CAN)
- Nitrogenous Fertilizers Application Outlook (Volume, Thousand Tons; Revenue, USD Million, 2014 - 2025)
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Nitrogenous Fertilizers Regional Outlook (Volume, Thousand Tons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- South Korea
- Central and South America
- Middle East & Africa
Find more research reports on Agrochemicals & Fertilizers Industry, by Grand View Research:
- Biopesticides Market – Growing environmental concerns regarding the use of synthetic (chemical-based) pesticides coupled with government support in many countries have been acting as major factors fueling the demand for biopesticides.
- Agricultural Biologicals Market – Government regulations supporting use of bio-based products for agriculture and rising global food demand is expected to drive market growth over the forecast period.
- Micronutrients Market – Global micronutrients market is expected to grow over the forecast period on account of increasing demand from agriculture industry since they significantly improve uniformity and quality in crop yield.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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