Global Nitrogen Fertilizers market was valued US$ XX billion in 2018 and is expected to reach US$ 210.05 billion by 2026, at CAGR of XX %during forecast period.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global Nitrogen fertilizers market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global Nitrogen Fertilizers market
Global Nitrogen Fertilizers Market : Overview
Nitrogen is an essential element required for plant growth. Nitrogen (N) is one of the most widely distributed elements in nature, since it’s the most abundant gas in the atmosphere, only a few plants have the capability to absorb and use the same. Nitrogenous fertilizers are inorganic in nature, it contains nitrous compounds such as calcium ammonium nitrate, ammonium sulfate, ammonium nitrate, and other compounds. The nitrogenous fertilizer market is expected to achieve growth, owing to the rising food demand, due to the increasing population and the government’s investment to develop advanced technologies and fertilizer for environment friendly and high yield, in order to meet the rising food demand. An increasing demand for production of nitrogenous fertilizers in developing economies, China and India are recognized as a key driver that will feed the growth of the market, which is expected to grow at 2.5% CAGR during the forecast period.
Global Nitrogen Fertilizers Market: Drivers and Restraints
The growth of nitrogen fertilizers market is highly driven by elements such as increasing population number eventually rise in demand of food production and level of yield in limited space to meet the need of people. Rise in awareness about benefits of nitrogen fertilizers over the other fertilizers, regarding nutritional balance to keep the fertility of soil among the farmers in developing countries backed by state support, these factors will drive the market share during forecast period with XX% CAGR. Further government investing research & development programs to develop more efficient and eco-friendly nitrogenous fertilizers will help to drive the market.
On the other hand, unpredictability in prices of raw material, bans on export by various governments in order to facilitate domestic demand will restrict growth of market of nitrogen fertilizers. Further several environmental and health hazards related with nitrogen-based fertilizers has been a major factor to hamper the growth of the nitrogenous fertilizers market.
Global Nitrogen Fertilizers Market: Segment Analysis
On the basis of product type, urea segment had largest market in compared with other fertilizers, in 2018 and is expected to drive the market share of nitrogenous fertilizers by 1.8 % per annum during the forecast period. Demandfor urea is expected to reach about 340 million metric ton, by 2026. lesser cost as compared to other fertilizers, high contain of nitrogen (about 45%) and increased productivity, these factors will increase the demand of urea fertilizers.
Global Nitrogen Fertilizers Market: Regional Analysis
The Asia-Pacific region driven by two largest counties India and China, held largest market share among all the regions, in 2018 and is expected to lead during forecast period, considering about 65% of the total global nitrogenous fertilizer usage.Out of total usage, 50% of the consumption accounted by china alone in the region. The increase in population number and funds by government to use of advance techniques and fertilizer for high productivity to meet the growing demand, huge GDP growth rates, increasing disposable incomes in the developing countries and increasing awareness about benefits of nitrogen fertilizers among the farmer, these factors will drive the market of nitrogen fertilizer during forecast period. Further production of rice is expected to lead in the demand for nitrogenous fertilizers in Asia Pacific.
North America driven by US had second largest market share in nitrogenous fertilizers in 2018. In Europe, the demand for nitrogenous fertilizers is driven by the growing demand for ammonium nitrate. But Europe and North America region are likely to observe balanced growth regime during the forecast period due to market saturation. While, Latin America, Middle East and Africa are estimated to exhibit high growth in the coming years due to huge demand of rice, corn and sugarcane in these regions.
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Scope of Global Nitrogen Fertilizers Market
Global Nitrogen Fertilizers Market, by Product Type
• Di-ammonium phosphate
• Ammonium nitrate
• Sodium nitrate
• Ammonium sulfate
• Calcium ammonium nitrate
• Ammonium chloride
Global Nitrogen Fertilizers Market, by Application Method
Global Nitrogen Fertilizers Market, by Form
Global Nitrogen Fertilizers Market, by Crop Type
• Oil seeds
• Cereals & grains
• Fruits & vegetables
Global Nitrogen Fertilizers Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Potassium Fertilizers market
• Coromandel International Ltd
• CF Industries Holdings Inc.
• Bunge Ltd, Potash Corp
• CVR Partners
• Yara International ASA
• Sinofert Holdings Ltd.
• Eurochem, Mosaic
• Koch Industries Inc.
• Potash Corp. of Saskatchewan Inc.
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