Nitrogenous Fertilizer Market Sales,Future Trends and Business Opportunities 2028
The global Nitrogenous Fertilizer Market size was valued at USD 68.45 billion in 2020 and is
projected to reach USD 77.99 billion by 2028, registering a CAGR of 4.5% during
the forecast period.
The demand for nitrogen
fertilisers is expected to increase, largely because of the need to improve
agricultural productivity. Recent estimates by the United Nations Food and
Agriculture Organization (FAO) indicate that chronic hunger, which continues to
affect more than 800 million people, will only grow as the global population
exceeds 9 billion by 2050. Feeding that would enable several individuals to
increase total food production by some 60 percent by 2050. Agricultural
intensification using fertilisers and best management practises are the best
way possible to do this without agricultural extensification, which requires
increased conversion of natural ecosystems to agriculture, loss of
biodiversity, and a large rise in greenhouse gas emissions.
Companies operating in the
global market for nitrogen fertilisers concentrate on R&D and new product
launches that are more effective and have the least environmental effects. For
example, Corteva Agriscience, the Agricultural Division of DuPont de Nemours,
Inc., launched a new PinnitMax above-ground nitrogen stabiliser in December
2018. The product would stop the volatilization of urea and UAN applications
and ensure that the nitrogen gets into the root zone for ideal crop uptake.
The effect of nitric acid on
human bodies would be one of the constraints of the nitric acid industry.
Action with nitric acid can result in burns to the throat, mouth, and stomach
and can often prove to be lethal. In addition, because nitric acid derivatives
are used in fertilisers, there has also been a considerable amount of nitric
acid contained in soil and groundwater, which can prove to be significantly
harmful to both humans and the environment. Strict environmental laws have also
curbed the use of nitrogen fertilisers in North America and Europe. In the
coming years, such regulations are likely to limit the growth of the nitric
acid industry.
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Top Companies:
Yara
International ASA, Nutrien Ltd., EuroChem Group AG., CF Industries Holdings
Inc., PJSC Togliattiazot, Koch Fertilizers, LLC, OCI Nitrogen, Sinofert
Holdings Limited, Coromandel International Ltd., and URALCHEM Holding Plc.
Market Insights:
Rising
global energy demand, increasing regulatory & environmental pressure and
highly volatile oil & gas prices have put great "deal" to other
alternative energy sources. There is increased awareness and commitments across
firms regarding "Green" energy sources. The demand for green has been
driven by environmental pollution caused by conventional energy sources. The
energy industry is largely controlled by utilities sector and government in
most of the emerging nations like BRIC nations .However, dynamics are
drastically changing driven by new policy changes, relaxing the FDI norms in
the sector, increased privatization, new capital investments of power projects
by both public & private, smart grid to better manage services & reduce
transmission losses, use of smart metering and and growing electricity demand.
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The
report offers a 360-degree overview of the market and focuses on major growth
trajectories such as drivers, restraints, challenges, and future opportunities.
It provide intensive market data and
detailed analysis on fast emerging renewable energy segments, covering their
integral sub-segments like capacity, industry and financial performance, sales
and distribution channels, and cost & prices. It also throws light on
interesting insights into the market, current market trends, sales statistics,
and major industry developments. The report lists the names of significant
players operating in the market and the prime strategies adopted by them to
gain a competitive edge in the market. It further emphasizes on market
segmentation based on factors such as type, technology, application, end-use,
and region in detail. For more information on the report, log on to the company
website.
Regions covered by the
report:
North
America (U.S.A.,
Canada, Mexico)
Europe
(U.K., Italy, Germany, France, Rest of
Europe)
Asia
Pacific (India,
Japan, China, South Korea, Australia, Rest of APAC)
Latin
America (Chile,
Brazil, Argentina, Rest of Latin America)
Middle
East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Nitrogenous Fertilizer
Market Segmentation:
Product Outlook
Urea
Ammonium Nitrate
Ammonium Sulfate
Ammonia
Calcium Ammonium Nitrate (CAN)
Others
Application Outlook
Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Others
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