Market Overview:

Nitrogenous Fertilizers Market was worth 115.19 billion in 2019 and estimated to be growing at a CAGR of 3.40%, to reach 136.15 billion by 2024. 

Nitrogen is an essential nutrient necessary for growth and development. All plants, although they are available in abundance in the environment, not all plants are readily available. Nitrogen fertilizers are inorganic and are commonly used in the agricultural industry. It is composed of nitrite complexes such as ammonium sulfate, calcium nitrate, calcium nitrate and other compounds in small amounts. Soil fertility and the type of crop used are the factors that determine the number of nitrogen fertilizer required.

Market Drivers and Restraints:

The global nitrogenous fertilizer market is mainly driven based on factors such as the growing world population, the increase in disposable income and the high yield of nitrogen fertilizers. However, the various regulatory mechanisms, unstable economies and the different environmental and health risks associated with nitrogen fertilizers are the leading market constraints. Besides, increasing cost of raw materials is a great challenge for companies in the market.

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Report segmented as

By Ingredient:

Urea,
Ammonium Nitrate,
Ammonium Chloride,
Sodium Nitrate,
Ammonium Sulphate,
Calcium Nitrate,
Calcium Ammonium Nitrate (CAN),
Nitrogenous Fertilizers
By Application:

Crop Based-Oil Seeds,
Fruits & Vegetables,
Grains & Cereals;
Non-Crop Based-Turf & Ornamental Grass
Geographical Analysis:

The market has been geographically distributed in North America, Europe, Asia-Pacific and the rest of the world. Asia-Pacific is leading the global nitrogenous fertilizer market and this trend is expected to continue in the near future. North America is the second-largest consumer of nitrogen fertilizers, followed by Europe. Demand for these fertilizers in North America and Europe is expected to grow slowly, mainly due to market saturation. The growing demand in South America is expected to provide a great prospect of growth for the market.

Important Market Players:

The international market for Nitrogenous fertilizers is tremendously consolidated and modernized owing to the existence of only a handful of corporations. The major businesses dominating this market are Yara International ASA, Agrium Inc., Coromandel International Ltd., Potash Corp., KOCH Industries Inc., CF Industries Holdings Inc., CVR Partners, Lp., Bunge Ltd., Sinofert Holdings Ltd. and Eurochem.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for a better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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