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Nitrogenous Fertilizers Market is expected to reach $127.35 billion by 2021

Nitrogenous Fertilizers Market by Ingredient, by Application and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
pradeep laddu | 21.07.2017
Nitrogenous fertilizers are inorganic in nature and are typically utilised in the agriculture industry. It consists of nitrous complexes such as ammonium sulphate, Calcium Nitrate, calcium ammonium nitrate and other compounds in minute amounts. Fertility of soil and the type of crop used are the factors that decide the quantity of nitrogenous fertilizers required.

The Global Nitrogenous Fertilizers Market was worth $107.74 billion in 2016 and estimated to be growing at a CAGR of 3.40%, to reach $127.35 billion by 2021

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The growth of the Global Nitrogenous Fertilizers market is majorly driven by factors such as globally increasing population, rising disposable income, and high efficiency of nitrogenous fertilizers. However, different regulatory structures, volatile economies, and various environmental and health hazards linked with nitrogen-based fertilizers are the major restraining factors for the market. Also, an increase in the cost of raw materials is a major challenge for the companies in the market.

The Global Nitrogenous Fertilizers market is segmented based on Ingredient, and Application. The market for Nitrogenous Fertilizers, on the basis of Ingredients, is classified into Urea, Ammonium Nitrate, Ammonium Chloride, Sodium Nitrate, Ammonium Sulphate, Calcium Nitrate, Calcium Ammonium Nitrate (CAN), Other Nitrogenous Fertilizers. On the basis of Application, the global Nitrogenous Fertilizers market is segmented into Crop Based and Non Crop Based. Crop Based segment is further sub-segmented into Oil seeds, Fruits & Vegetables, Grains & Cereals, whereas Non Crop Based segment is further sub-segmented into Turf & Ornamental Grass and others. Urea-based nitrogenous fertilizers are leading the ingredient segment in terms of consumption. However, Ammonium nitrate is projected to be the fastest growing segment during the forecast period. By application, Grains such as rice and corn lead the global market for nitrogenous fertilizer and this trend is anticipated to remain during the forecast period.

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The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. Asia Pacific has been leading the global nitrogenous fertilizer market and this trend is projected to stay in the near future. North America is the second major consumer of nitrogenous fertilizers, followed by Europe. Demand for nitrogenous fertilizer in North America and Europe is expected to grow at a slow rate largely due to market saturation. Growing demand for nitrogenous fertilizer in South America is anticipated to offer huge growth prospect for the market.

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The global market for Nitrogenous fertilizers is extremely consolidated and streamlined owing to the existence of only a handful of companies. The major companies 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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