Global Nitrogen Fertilizer Market Trends And Strategies Of Major Players In The Nitrogen Fertilizer Market 2021-2030
8 Jun, 2021
The nitrogen fertilizers market consists of sales of nitrogenous fertilizers. Nitrogen fertilizer manufacturers produce fertilizers from sewage or animal waste and manufacture nitrogenous materials and mix them into fertilizers. Ammonium nitrate, ammonium sulfate and anhydrous ammonia are considered to be part of the nitrogenous fertilizer manufacturing segment.
Global Nitrogen Fertilizer Market Size And Drivers:
The global nitrogen fertilizer market is expected to grow from $67.82 billion in 2020 to $73.02 billion in 2021 at a compound annual growth rate (CAGR) of 7.7%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $78.22 billion in 2025 at a CAGR of 2%. Globally, governments are investing to uplift the agricultural sector, thereby contributing to the growth in demand for fertilizers.
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Trends In The Global Nitrogen Fertilizer Market
Urea market is witnessing rapid growth in fertilizers market as it controls air pollution by catalytic reaction. Urea is easily water-soluble compound that consists of 46% of nitrogen and it can be stored, transported and handled easily. It increases the soil productivity and soil nutrients. According to International Fertilizers Association (IFA), global urea capacity is going to increase by a net of 17 metric tons by volume for each year and the total production is estimated as 226 metric tons by 2021. Thus, the expected increase in production of urea promotes the sales of nitrogen fertilizers market.
Global Nitrogen Fertilizer Market Segments:
The global nitrogen fertilizer market is further segmented based on type and geography.
By Type: Urea, Calcium Ammonium Nitrate (CAN), Ammonium Nitrate, Ammonium Sulphate, Ammonia, Other Nitrogenous Fertilizers
By Application: Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others
By Form: Liquid, Dry, Others
By Treatment: Soil, Foliar, Fertigation, Others
By Geography: The global nitrogen fertilizer market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Nitrogen Fertilizer Market At:https://www.thebusinessresearchcompany.com/report/nitrogen-fertilizers-global-market-report
Nitrogen Fertilizer Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides nitrogen fertilizer market overviews, analyzes and forecasts market size and growth for the global nitrogen fertilizer market, nitrogen fertilizer market share, nitrogen fertilizer market players, nitrogen fertilizer market segments and geographies, nitrogen fertilizer market’s leading competitors’ revenues, profiles and market shares. The nitrogen fertilizer market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.