Nitrogenous fertilizers are inorganic nitrous compounds which are primarily utilized to improve the growth rate, texture, color and quality of crops. Nitrogen acts as a primary building block for protoplasm and is involved in the process of photosynthesis. These fertilizers majorly contain varying quantities of ammonium nitrate, ammonium sulfate, calcium ammonium nitrate, urea and other substances, which are mixed with animal manure. When used in specific amounts, they aid in enhanced flower differentiation, rapid shoot growth, production of healthy flower buds and improved quality of fruit. However, the growing trend of preference for organic food that is produced without any synthetic or chemical components or is produced mainly with natural components or biofertilizers has been witnessed in recent years. This is due to growing health awareness, environment protection, food safety, and other related concerns and is made affordable by rising income levels. This, in turn, is projected to impact the nitrogenous fertilizers market.
Covid-19 Impact Analysis
- The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the nitrogen fertilizer market in 2020.
- The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths all across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
- The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
- The lockdown has resulted in hampering the imports and exports of various goods. Also, the uncertainty created in the market in the consumers’ buying pattern has resulted in hampering of the nitrogen fertilizer market.
Top Impacting Factors
The rising population and decreasing arable land across the globe are among the key factors driving the growth of the market. Furthermore, the implementation of favorable government policies promoting the usage of advanced fertilizers for higher yield is another major growth-inducing factor. There has been a significant increase in the crop demand also to cater to the rapidly increasing global population, which has consequently led to the growing adoption of these fertilizers for improved soil fertility and enhanced yield of crops, such as corn, rice and sugarcane. In addition to this, the shortage of arable land, owing to growing urbanization and industrialization, is augmenting the utilization of these fertilizers for maximizing productivity. Other factors, including increasing demand for grain-based biofuels coupled with extensive research and development (R&D) activities to develop more efficient and eco-friendly variants, are projected to create a positive outlook for the market.
Market trends
- Increasing demand for fertilizers is a key driver for the market.
- Urea is the most widely used nitrogenous fertilizer across the world, primarily because of the high nitrogen content (46%). China and India are the largest producers and consumers of urea in the world. The major exporters of urea are countries rich in natural gas, especially those in the GCC region. Over the course of the forecast period, the regional demand for urea is projected to increase in all regions, except Europe, with Latin America, South Asia, and Southeast Asia being the largest contributors. China and India share the largest consumption share in the Asia-Pacific fertilizer market, with China alone accounting for more than half of the consumption in the region.
- Growing food demand around the globe is also a major factor for the market growth.
- Cereals and grains are the leading application segment in the market owing to the growing demand from food and animal feed industries. Shrinking farmland and growing demand for food crops such as wheat, maize, rice, barley, and oats, are boosting the demand for agricultural chemicals. Among the cereals consumed globally, wheat is the largest consumer of nitrogen-based soil followed by barley.
- Increased focus on healthy lifestyle is also helping the market to expand.
- Growing health awareness globally has driven the demand for pulses owing to their dietary protein content. Pulses can convert and utilize the atmospheric nitrogen and hence consume less volume of fertilizers compared to the other crops. Both these crops have a demand-supply gap, as their annual yield does not meet the global requirement. These factors are anticipated to increase the usage of nitrogen fertilizers for the production of oilseeds & pulses.
Key Benefits of the Report
- This study presents the analytical depiction of the nitrogen fertilizer market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the nitrogen fertilizer market share.
- The current market is quantitatively analyzed to highlight nitrogen fertilizer market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed nitrogen fertilizer market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Nitrogen Fertilizer Market Report
- Who are the leading market players active in the Nitrogen Fertilizer Market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is “Nitrogen Fertilizer Market “?
- What does " Nitrogen Fertilizer Market " allow organizations to achieve?
- Which technologies combine to make “Nitrogen Fertilizer Market “a critical organizational asset?
- What is " Nitrogen Fertilizer Market” Market prediction in the future?
- Who are the leading global players in the “Nitrogen Fertilizer Market” market?
- What are the current trends and predicted trends?
- What are the challenges faced in the " Nitrogen Fertilizer Market” Market?
- What are the key benefits of the “Nitrogen Fertilizer Market “Market report?
- What will be the anticipated growth rates for your own Nitrogen Fertilizer Market economy altogether and for every segment inside?
- What are the driving factors and opportunities in the market?
Nitrogen Fertilizer Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Region |
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 Key Market Players | ICL, CF Industries, PotashCorp, The Mosiac Company, Brenntag, LANXESS, BASF, Yara, Agrium, Eurochem |
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