Nitrogenous Fertilizers Market is Estimated to Experience a Notable Rise of USD 157.49 billion by 2029

Nitrogenous fertilizers Market

The Nitrogenous Fertilizers Market is being driven by population growth, rising food demand, and agricultural expansion.

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 21, 2023 /EINPresswire.com/ -- The nitrogenous fertilizers market is expected to grow at 2.73% CAGR from 2023 to 2029. It is expected to reach above USD 157.49 billion by 2029 from USD 126.96 billion in 2022.

Nitrogenous fertilizers are inorganic nitrous chemicals that are primarily used to boost crop growth rate, quality, and attributes. Nitrogen is an essential component of protoplasm in the photosynthesis process. The majority of these organic fertilizers are made up of various amounts of ammonium nitrate, ammonium sulphate, calcium ammonium nitrate, urea, and other ingredients mixed with animal dung. When used in the proper proportions, they promote increased fruit quality, accelerated shoot growth, healthy flower bud production, and improved bloom differentiation. A growing demand from the food and animal feed sectors has made cereals and grains the market’s most popular application category. Farmland shortages and rising consumer demand for food crops including wheat, maize, rice, barley, and oats are driving up the price of agricultural chemicals. Wheat is the cereal crop that uses the most nitrogen-rich soil worldwide, followed by barley.

Available Sample Report in PDF Version along with Graphs and Figures @

https://exactitudeconsultancy.com/reports/22635/nitrogenous-fertilizers-market/#request-a-sample

Recent Developments:

• 17 Jaanuary 2023: Yara Clean Ammonia (YCA) signed Memorandum of Understanding (MOU) with Japanese company JERA Co. Inc. to decarbonize coalfired powerplant and develop blue ammonia production in the US Gulf.

• 15 September 2022: A renewable hydrogen plant will be built to provide feedstock into the Yara ammonia operations near Karratha in Western Australia following the final investment decision on the project.

• June 2022 - An agreement has been inked between top global ammonia player Yara International ASA and the Japan Bank for International Collaboration (JBIC), a Japanese policy-based financial institution, to further deepen cooperation in the field of clean ammonia on June 15, 2022.

• March 2022 - According to a contract signed between Koch Ag & Energy Solutions (Koch) and OCP, the largest phosphate miner and top global fertiliser company will sell a 50% stake in Jorf Fertilizers Company III (JFC III) to a Koch subsidiary. Once completed, the deal will create a 50/50 joint venture.

The Asia Pacific area had the biggest percentage 40% in 2022.

The expansion is ascribed to a wider area that may be used for production, excellent climate conditions, and an increase in the population of rural areas. Due to expanding demand and an increased focus on food security, major international producers of nitrogenous fertilisers are setting up manufacturing facilities in Asian nations. China purchases around one-third of all worldwide product consumption, making it the country with the highest per capita consumption.

In terms of revenue, Europe was in third place among the regional segments in 2021, and it is anticipated that it would grow with a CAGR of 6.3% over the next several years. A sizable acreage in the area is occupied by agriculture and grasslands, which is thought to be the cause of the expansion

Nitrogenous Fertilizers Market Growth Factors

• Increasing Global Population:

The world's growing population continues to drive the demand for food. Nitrogenous fertilizers are essential for crop production, as they provide plants with the necessary nutrients for growth. As the global population increases, so does the need for enhanced agricultural productivity.

• Rising Demand for High-Quality Crops:

There is a growing demand for high-quality crops with better nutritional content. Nitrogen is a crucial element for the synthesis of proteins and enzymes in plants. Farmers use nitrogenous fertilizers to ensure that crops achieve optimal growth and yield.

• Advancements in Agricultural Technology:

Modern agricultural practices, including precision farming and controlled-release fertilizers, have increased the efficiency of nitrogenous fertilizer use. Farmers are adopting technology-driven approaches to optimize fertilizer application, minimizing waste and environmental impact.

• Government Initiatives and Subsidies:

Government policies, subsidies, and initiatives aimed at promoting agricultural productivity can significantly impact the nitrogenous fertilizers market. Subsidies on fertilizers or government programs that encourage their use can drive market growth.

• Expansion of Agriculture in Developing Countries:

Developing countries are experiencing expansion in agricultural activities to meet the food demands of their growing populations. Nitrogenous fertilizers play a crucial role in increasing crop yields and improving food security in these regions.

Nitrogenous Fertilizer Market Competitive Landscape

Global nitrogenous fertilizer market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Nitrogenous Fertilizers Market Technological Trends

• Precision Agriculture and Smart Farming:

Integration of precision agriculture technologies has been a trend. This involves the use of sensors, GPS technology, and data analytics to optimize the application of nitrogenous fertilizers. Smart farming techniques help farmers apply fertilizers more efficiently, minimizing waste and environmental impact.

• Nanotechnology in Fertilizers:

Nanotechnology has shown promise in enhancing the efficiency of nitrogenous fertilizers. Nanofertilizers can improve nutrient uptake by plants, reduce nutrient leaching, and provide a controlled release of nutrients. Research in this area aims to develop more efficient and environmentally friendly fertilizer solutions.

• Enhanced Efficiency Nitrogen Fertilizers (EEFs):

EEFs are designed to reduce nitrogen losses through volatilization, leaching, and denitrification. These fertilizers may include controlled-release formulations, inhibitors, and coatings that slow down the release of nitrogen, allowing for better absorption by plants.

• Biological Nitrogen Fixation:

Advances in microbial technology for nitrogen fixation have gained attention. Researchers are exploring the use of nitrogen-fixing bacteria and other microbes to enhance soil fertility naturally, reducing the reliance on synthetic nitrogenous fertilizers.

• Digital Agriculture Platforms:

The use of digital platforms for agriculture, including farm management software and data analytics tools, has become more prevalent. These platforms help farmers make informed decisions about fertilizer application based on real-time data, weather conditions, and crop needs.

Nitrogenous Fertilizers Market Player

• Yara International ASA
• Bunge Ltd.
• OCI Nitrogen
• Kynoch Fertilizer
• Omnia Holdings Limited
• Sorfert
• Triomf SA
• ICL Fertilizers
• Eurochem Group
• Nutrien Ltd.
• CF Industries Holdings Inc

View in-depth table of contents for this report @

https://exactitudeconsultancy.com/reports/22635/nitrogenous-fertilizers-market/

Key Market Segments: Nitrogenous Fertilizers Market

Nitrogenous Fertilizers Market By Product, 2023-2029, (USD Billion), (Kilotons).

• Ammonium Nitrate
• Anhydrous Ammonia
• Urea
• Others

Nitrogenous Fertilizers Market By Form, 2023-2029, (USD Billion), (Kilotons).

• Conventional
• Specialty

Nitrogenous Fertilizers Market By Application Mode, 2023-2029, (USD Billion), (Kilotons).

• Fetigation
• Foliar
• Soil

Nitrogenous Fertilizers Market By Crop Type, 2023-2029, (USD Billion), (Kilotons).

• Cereals
• Pulses And Oilseeds
• Fruits And Vegetables
• Turf And Ornamentals

Market Dynamics:

Drivers:

• Population Growth: The increasing global population drives the demand for higher agricultural productivity, leading to an increased need for nitrogenous fertilizers.

• Urbanization and Changing Dietary Habits: Urbanization and a shift towards more protein-rich diets in developing countries contribute to the demand for nitrogenous fertilizers to support intensified agriculture.

Restraints:

• Environmental Concerns: The excessive use of nitrogenous fertilizers can lead to environmental issues such as water pollution and greenhouse gas emissions.

• Price Volatility: The prices of nitrogenous fertilizers are influenced by factors like raw material costs, energy prices, and geopolitical events, leading to market volatility.

Opportunities:

• Technological Advancements: Innovations in fertilizer technologies, such as controlled-release fertilizers and precision agriculture, present opportunities for more efficient and sustainable use of nitrogenous fertilizers.

• Emerging Markets: Growing agricultural markets in developing countries offer opportunities for expansion and increased sales of nitrogenous fertilizers.

Challenges:

• Regulatory Challenges: Stringent environmental regulations regarding fertilizer use and runoff can pose challenges for the nitrogenous fertilizers market.

• Dependency on Raw Materials: The nitrogenous fertilizer industry is heavily dependent on raw materials like natural gas, and any fluctuations in these inputs can impact production costs.

• Awareness and Education: Lack of awareness among farmers about the optimal use of nitrogenous fertilizers and their environmental impact can be a challenge.

Key Question Answered

1. What is the expected growth rate of the nitrogenous fertilizers market over the next 7 years?
2. Who are the major players in the nitrogenous fertilizers market and what is their market share?
3. What are the end-user industries driving demand for market and what is their outlook?
4. What are the opportunities for growth in emerging markets such As Asia-Pacific, Middle East, and Africa?
5. How is the economic environment affecting the nitrogenous fertilizers market, including factors such as interest rates, inflation, and exchange rates?
6. What is the expected impact of government policies and regulations on the nitrogenous fertilizers market?
7. What is the current and forecasted size and growth rate of the global nitrogenous fertilizers market?
8. What are the key drivers of growth in the nitrogenous fertilizers market?
9. What are the distribution channels and supply chain dynamics in the nitrogenous fertilizers market?
10. What are the technological advancements and innovations in the nitrogenous fertilizers market and their impact on form development and growth?

Discover more Research Reports on Chemicals and Material Industry, by Exactitude Consultancy:

Zero Liquid Discharge Systems Market by System (Conventional, Hybrid), by Process (Pretreatment Process, Filtration Process, Evaporation Process, Crystallization Process), by Technology (Reverse Osmosis (RO), Ultrafiltration (UF), Evaporation, Crystallization), by Application (Wastewater Treatment, Desalination), by End User (Power Generation, Textiles, Chemicals and Petrochemicals, Pharmaceuticals, Mining, Food and Beverages) and Region, Global trends and forecast from 2023 to 2029

https://exactitudeconsultancy.com/reports/17728/zero-liquid-discharge-systems-market

Global Fatty Alcohols Market by Type (Short Chain, Pure and Mid Cut, Long Chain, Higher Chain), by Application (Soaps & Detergents, Personal Care, Lubricants, Amines) and Region, Global Trends and Forecast From 2023 To 2029

https://exactitudeconsultancy.com/reports/18266/fatty-alcohols-market/

Ion Exchange Resins Market by Type (Cationic Resins, Anionic Resins, Others (Adsorbent Resins & Chelation Resins)), By Application (Water, Non-Water), By End User Industry (Power, Chemical & Petrochemical, Food & Beverage, Pharmaceutical, Electrical & Electronics, Metal & Mining, Others (Textile, Agriculture, Wastewater Treatment, and Oil & Gas)) and Region, Global trends and forecast from 2023 to 2029

https://exactitudeconsultancy.com/reports/25088/ion-exchange-resins-market/

2-Methylpyridine Market by Type (Purity 99%, Purity 98%, Other), Application (Pharmaceuticals, Agrichemicals, Dye Intermediates) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), 2023-2029

https://exactitudeconsultancy.com/reports/3560/2-methylpyridine-market/

About Exactitude Consultancy

Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.

Contact us

for your special interest research needs at sales@exactitudeconsultancy.com and we will get in touch with you within 24hrs and help you find the market research report you need.

Website: https://exactitudeconsultancy.com/

Irfan T
Exactitude Consultancy
+1 704-266-3234
email us here
Visit us on social media:
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.