Growing demand for boosting agricultural productivity in developing countries to boost nitrogen fertilizer market growth at a CAGR of 3.7% during the period 2019-2027
According to our latest market research on ‘Impact of COVID-19 and Global Nitrogen Fertilizer Market to 2027 – Analysis and Forecast by Type (Urea, Ammonium Nitrate, Ammonium Sulfate, Ammonia, Nitrate ammonium and calcium and others), form (dry and liquid), type of crop (cereals and cereals, oilseeds and legumes, fruits and vegetables and others), mode of application (soil, foliar and fertigation) and geography â, the The market was valued at US $ 72,537.6 million in 2018 and is expected to reach US $ 1,00,304.4 million by 2027; It is expected to grow at a CAGR of 3.7% from 2019 to 2027. The report highlights the key factors driving the market growth and key players along with their developments in the market.
Report Coverage Details
Market size Value in – US $ 72,537.57 million in 2018
Market Size – US $ 100,304.42 Million by 2027
Growth rate – CAGR of 3.7% from 2019-2027
Forecast period – 2019-2027
Base year – 2019
Number of Pages – 200
No. Tables – 109
Number of graphs and figures – 92
Historical data available – Yes
Segments Covered – Type, Shape, Crop Type, Mode of Application and Geography
Regional scope – North America; Europe; Asia Pacific; Latin America; AEM
Country Scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report Coverage: Revenue Forecast, Company Rank, Competitive Landscape, Growth Factors and Trends
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Nitrogen fertilizer is one of the most regular categories of fertilizers produced with different chemical combinations of nitrogen; Fertilizers are generally available in three forms: ammonia, nitrate, and urea. Once applied to the fields, the fertilizers are taken up by the plants and are converted into various other forms by chemical reactions. Their application allows to impart a better texture and color to the plants, thus improving agricultural productivity. The Haber Bosch process is considered the preferred technique for the production of nitrogenous fertilizers. Natural gas is one of the important raw materials used in the Haber Bosch process, along with other materials such as animal manure and compost. The increase in population capitalizes the needs for food security, which emphasizes the need to use such fertilizers to provide essential nutrients in the soil to promote soil quality, ultimately leading to higher yields. students.
Impact of the COVID-19 pandemic on the nitrogen fertilizer market
The COVID-19 outbreak was first reported in Wuhan, China in December 2019, and since then it has spread at a rapid rate across the world. As of June 2020, the United States, Brazil, India, Russia, Spain and the United Kingdom are some of the most affected countries in terms of confirmed cases and reported deaths. COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans and business closures. Food and beverage is one of the major industries in the world suffering from severe disruption such as supply chain disruptions, cancellations of tech events and office closures as a result of this outbreak.
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The nitrogen fertilizer market, on the basis of the type, is segmented into Urea, Ammonium Nitrate, Ammonium Sulfate, Ammonia, Ammonium and Calcium Nitrate, and others. Urea segment accounted for the largest share of the global market in 2018, while the ammonium sulfate market is expected to grow at the highest CAGR during the forecast period. Urea is freely soluble in water and is among the cheapest nitrogen fertilizers, considering the unit cost of nutrients. It comes in a solid, white, grainy, slightly hygroscopic form. It is also applied as a spray solution. Most crops respond effectively to the application of urea. Upon application to soil, urea undergoes decomposition in the presence of the enzyme urease synthesized by soil microorganisms. The conversion of urea to nitrate, following complete decomposition, takes place in about a week. Urea is relatively resistant to leaching.
The global nitrogen fertilizer market by geography is segmented into five regions including North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America held the largest share of the global nitrogen fertilizer market.
Nitrogen Fertilizer Market: Competitive Landscape and Key Developments
Bunge limited; CF Industries Holdings, Inc .; EuroChem Group; Koch Fertilizers, LLC; Nutrien LtÃ©e; OCI Nitrogen; SABIC Group; Sinofert; Togliattiazot (TOAZ); and Yara International ASA. are among the key players in the global nitrogen fertilizer market. Leading companies focus on expanding and diversifying their market presence and acquiring new customers, thereby exploiting existing business opportunities.
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