Global Nitrogenous Fertilizer Market - Growth, Trends and Forecasts (2017 - 2022)
Global Nitrogenous Fertilizer market is estimated to grow at a CAGR of 3.6% during the forecast period 2016-2021 from an estimated market value of $86793.4 million in 2015. Nitrogen is the most vital nutrient required by all plants for growth and development. Though present in abundance in nature, it is not readily taken by all plants and that leads to higher application of nitrogenous fertilizers in the agricultural fields.
High population growth leading to food security concern over the globe along with increasing need of better field productivity primarily drive the nitrogenous fertilizer market growth. Increasing consumption of meat based food products around the globe and the increased need of fertilizers in biofuel production have further led to the market growth. Growing demand from developing regions like Asia-Pacific and Latin America, and increased government and industry support would help in sustaining the market growth in the forecast period. However, regulatory and environmental constraints pertaining to fertilizers and popularity of organic options are creating obstacles for market growth.
The global nitrogenous fertilizer market is classified by type, application and geography. In term of product type, Urea, Calcium Ammonium Nitrate (CAN), Ammonium Nitrate, Ammonium Sulfate, Ammonia and Other Nitrogenous Fertilizers. While the market share for urea is reported to be the highest, the ammonium nitrate fertilizer market is expected to grow at a faster rate. By application, the usage of fertilizers is explained based on crops and non-crops. Crop based application account for majority of nitrogenous fertilizer usage which is led by oilseeds, cereal and grains.
Asia-Pacific, with its thriving economies and rapidly expanding population, is the largest market for nitrogenous fertilizers and the regional market is expected to experience the highest consumption from 2016 to 2021. Due to high demand from grains and oilseed crops, China leads the consumption both globally and regionally. South American countries like Brazil and Argentina are driving the trade in the region. United States is the key market in North American nitrogenous fertilizer industry. The five years growth would be rather static in developed nations of Europe and North America.
The global market for Nitrogenous fertilizers is characterized as being consolidated and rationalized market. The market is dominated by key companies like Agrium, Yara International, Potash Corporation of Saskatchewan, The Mosaic Company, K+S and ICL etc. Individual companies have acquired specific competitive advantage in case of nitrogenous fertilizer supply. Extensive investments in research and development activities are religiously pursued by companies to gain maximum market share.
In this report we offer,
Market analysis for the Global Nitrogenous Fertilizer Market, with region specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Global Nitrogenous Fertilizer Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.