How Has The Nitrogen Fertilizer Market Size Evolved In Recent Years?
The nitrogen fertilizer market has seen considerable growth due to a variety of factors.
• Recent years have seen a robust growth in the size of the nitrogen fertilizer market. Projected growth shows it expanding from $102.24 billion in 2024 to $109.9 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%.
This historical growth has been spurred by factors such as rising population and the consequent increase in food demand, advancements in farming methods, government support and policies, weather and climatic factors, as well as dynamics in global trade and supply chain.
How Will the Nitrogen Fertilizer Market Size Evolve over the Forecast Period?
The nitrogen fertilizer market is expected to maintain its strong growth trajectory in upcoming years.
• Over the upcoming years, a substantial expansion is predicted for the nitrogen fertilizer market. The current forecast projects growth to $142.17 billion in 2029, reflecting a compound annual growth rate (CAGR) of 6.6%.
This notable climb in the predicted phase can be linked to environmental rules and sustainability efforts, heightened concerns regarding food safety, bio-sourced nitrogen fertilizers, varying climate adaptation plans, and increased soil health awareness. Key trends for the predicted period involve advancements in fertilizer technology, the emergence of digital agriculture platforms, the use of precision agriculture technologies, radical innovations in fertilizer production, and a rising demand for urea-based fertilizers.
What Are The Essential Drivers Behind The Growth Of The Nitrogen Fertilizer Market?
Around the world, governmental efforts are being made to boost the agricultural sector, resulting in an increased demand for fertilizers. For instance, the Indian government has declared that urea factories, which have been operational for over 30 years and continue to produce urea, will obtain an extra fixed cost of $6.77 (Rs 500). The government also announced fixed costs at a rate of $4.74 (Rs 350) per metric ton for 30 urea factories. Annually, India imports exceeding 50 lakh ton of urea, valued at over a billion dollars. The aim of these governmental initiatives is to enhance local urea production and decrease imports. Hence, these types of initiatives across various nations are set to aid the growth of the agricultural industry, thereby propelling the fertilizer market.
What Key Areas Define The Segmentation Of The Global Nitrogen Fertilizer Market?
The nitrogen fertilizer market covered in this report is segmented –
1) By Type: Urea, Calcium Ammonium Nitrate (CAN), Ammonium Nitrate, Ammonium Sulphate, Ammonia, Other Nitrogenous Fertilizers
2) By Form: Liquid, Dry, Other Forms
3) By Treatment: Soil, Foliar, Fertigation, Other Treatments
4) By Application: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Applications
Subsegments:
1) By Urea: Granular Urea, Prilled Urea, Liquid Urea
2) By Calcium Ammonium Nitrate (CAN): Granular CAN, Liquid CAN
3) By Ammonium Nitrate: Granular Ammonium Nitrate, Solution Ammonium Nitrate
4) By Ammonium Sulphate: Granular Ammonium Sulphate, Liquid Ammonium Sulphate
5) By Ammonia: Anhydrous Ammonia, Ammonium Hydroxide
6) By Other Nitrogenous Fertilizers: Nitro-Phosphate Fertilizers, Urease Inhibitors, Other Blended Nitrogen Fertilizers
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How Are Emerging Trends Reshaping The Dynamics Of The Nitrogen Fertilizer Market?
The growth of the nitrogen fertilizers market is anticipated to be fuelled by a broadening of agricultural activities. This expansion in agriculture is attributed to factors like the rising global population, concerns about food security, and the emergence of climate-smart agricultural practices. Nitrogen fertilizers play a crucial role in facilitating this agricultural growth by improving crop health and enhancing yields, thereby enabling farmers to cultivate on larger areas of land to fulfill global food demand. For example, as reported by the National Bank of Agricultural and Rural Development, an establishment based in India, the real agricultural GVA predicted for FY2023 was around ?22.3 lakh crore ($265 billion) in May 2023, marking a growth of 4% in comparison to 3.5% in FY2022. Thus, the nitrogen fertilizer market is expected to be propelled by the expanding agricultural activities.
Who Are the Key Players in the Nitrogen Fertilizer Market?
Major companies operating in the nitrogen fertilizer market include:
• Koch Industries Inc.
• BASF SE
• Bunge Limited
• Dow Chemical Company
• Saudi Basic Industries Corporation
• Nutrien Inc.
• Potash Corp.
• Yara International ASA
• Sumitomo Chemical Co. Ltd.
• Sinofert Holdings Limited
• The Mosaic Co.
• DuPont de Nemours Inc.
• Sinochem Group Co. Ltd.
• CF Industries Holdings Inc.
• Sociedad Química y Minera de Chile
• EuroChem Group AG
• Israel Chemicals Ltd.
• OCI NV
• Uralkali PJSC
• Wilbur-Ellis Company LLC
• Indian Farmers Fertiliser Cooperative Limited
• TogliattiAzot JSC
• CVR Partners LP
• Haifa Group Ltd.
• Terra Nitrogen Company LP
• Agrium Inc.
• Coromandel International Ltd.
What Is The Most Dominant Region In The Nitrogen Fertilizer Market?
Asia-Pacific was the largest region in the nitrogen fertilizer market in 2024. North America was the second-largest region in the global nitrogen fertilizer market. The regions covered in the nitrogen fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
