Key Growth Opportunities in the Nitrogenous Fertilizers Market

Northbrook, IL, USA, 2020-Jan-23 — /EPR Network/ — The nitrogenous fertilizers market is projected to grow at a CAGR of 2.33% from 2016, to reach a projected value of USD 126.96 billion by 2022. The growing need to increase the productivity, level yield, and fertilizer intensity gaps across regions, as well as increasing awareness regarding soil profile and nutritional balance backed by government support, are the major drivers for the market.

Research Methodology:

• Major regions were identified along with countries contributing the maximum share.
• Secondary research was conducted to obtain the value of nitrogenous fertilizers market for regions such as North America, Europe, Asia Pacific, South America, and RoW.
• Key players have been identified through secondary sources such as the Bloomberg Businessweek, Factiva, agricultural magazines, and companies’ annual reports, while their market share in the respective regions has been determined through both, primary and secondary research.
• The research methodology includes the study of annual and financial reports of top market players as well as interviews with industry experts (such as CEOs, VPs, directors, and marketing executives) for key insights (both quantitative and qualitative) for the nitrogenous fertilizers market.

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On the basis of type of nitrogenous fertilizers, urea is most widely used in agriculture and has contributed to nearly 90% of the growth of the nitrogenous fertilizers market in the past decade. Urea is preferred as a substitute for ammonium nitrate and is used widely as farmers have identified it as an economical and easy to use an alternative. Ammonium nitrate is projected to grow at the fastest CAGR between 2016 and 2022, due to its increasing demand attributed to the rapid absorption features of the nitrate compounds by plants, with minimal loss of nutrients as compared to other nitrogen fertilizers. Nitrogen fertilizers have been witnessing traction in the market in the form of slow release and specialty fertilizers along with nitrogen stabilizers to reduce the excessive wastage of these fertilizers.

Dry nitrogenous fertilizers are widely used as they are easily available and inexpensive as compared to the liquid nitrogenous fertilizers. In addition, farmers are becoming aware of the advantages of liquid nitrogenous fertilizers, which include their stability and enhanced efficiency for absorption by crops. This has led to an increase in the demand for liquid nitrogenous fertilizers.

The South American region is projected to grow at a significant rate from 2016 to 2022

The South American region is projected to grow at the highest CAGR during the forecast period, owing to the factors such as growth in population, rise in disposable incomes, progressive urbanization, and increase in demand for nutritional food products that in turn drive the demand for agricultural products. Growth is majorly witnessed in China, India, and Japan owing to the increase in the purchasing power of the population.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies, such as Yara International ASA (Norway), Agrium Inc. (Canada), Coromandel International Limited (India), Potash Corp. of Saskatchewan Inc. (Canada), and Koch Industries Inc. (U.S.).

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Target Audience:

The stakeholders for the report are as follows:

• Supply-side stakeholders: fertilizer producers, suppliers, distributors, importers, and exporters
• Demand-side stakeholders: Large contract-scale farming companies, farmers and researchers
• Regulatory-side stakeholders: Concerned government authorities and other regulatory bodies
• Other related associations, research organizations and industry bodies: Food and Agriculture Organization (FAO), International Fertilizer Industry Association (IFA), International Fertilizer Society (IFS) and Organization for Economic Co-operation and Development (OECD)