|Study Period:||2016 - 2026|
|Fastest Growing Market:||Africa|
|Largest Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The global nitrogenous fertilizer market is projected to witness a CAGR of 4.2% during the forecast period (2021-2026). COVID-19 has affected all the processes that connected all the processes and connected farm production to final consumers. Farmers have faced a shortage of agricultural inputs, like fertilizer, seed, and pesticides. China is one of the major fertilizer producers and exporters in the world. The lockdown in China had a huge impact on International Fertilizer Trade. When lockdown began in China, the impact is severe in terms of production cuts due to labor shortage and transportation problems, which have resulted in stockpiling up. Prices are at an all-time low, and inventories are high, with demand uncertain in producing nations. The nitrogenous fertilizer market is expected to gain growth, owing to the rising food demand, the increasing population, and the government funding for the usage of advanced techniques and fertilizer for high productivity to meet the rising demand. Technology progress, worldwide, which works with modern environmental issues, attracts attention to agriculture and makes the domain of fertilizers technology the cornerstone for market development. Europe and North America are likely to witness steady growth over the forecast period due to market saturation, while South America and Africa are predicted to exhibit high growth in the coming years, owing to the huge cultivation of rice, corn, and sugarcane in these regions. As an impact, the nitrogen fertilizer prices declined by 8.5% in May 2020, as lower input costs and weak seasonal demand outweighed the gradual easing of supply bottlenecks. The disruptions in supply had a negative impact on the international trade of the market.
Scope of the Report
The International Fertilizer Association defines a fertilizer as 'any solid, liquid, and gaseous substance containing one or more plant nutrient in known amount, which is applied to soil, directly on plants, or added in aqueous solutions (as in fertigation) to maintain soil fertility, improve crop development, yield, and/or crop quality'. The corporations in the fertilizer industry operate in B2B and B2C business format. To eliminate any ‘double-count’ error in market estimations, bulk buyers procuring fertilizers for retail sale, after value addition through further processing, are not considered part of the fertilizer market. The nitrogenous fertilizer market is segmented by type (urea, calcium ammonium nitrate (CAN), ammonium nitrate, ammonium sulfate, ammonia, and other nitrogenous fertilizers), application (grains and cereals, pulses and oilseeds, fruits and vegetables, turf and ornamentals, and other applications), and geography (North America, Europe, Asia Pacific, South America, and Africa)
|Calcium Ammonium Nitrate (CAN)|
|Other Nitrogenous Fertilizers|
|Grains and Cereals|
|Pulses and Oilseeds|
|Fruits and Vegetables|
|Turf and Ornamentals|
Key Market Trends
Increasing Demand for Fertilizers
Urea is the most widely used nitrogenous fertilizer, globally, 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. According to the International Fertilizer Association (IFA), the global demand for urea is expected to increase at 1.6% per annum, to reach 188.0 million metric ton, by 2022, while the supply (effective capacity) may reach 197.0 million metric ton. 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.
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Asia Pacific Dominates the Nitrogenous Fertilizer Market
The Asia Pacific region holds the largest share among all regions in the nitrogenous fertilizer market, accounting for 60.0% of the total global nitrogenous fertilizer usage. China and India share the largest consumption share in the Asia Pacific fertilizer market, with China alone accounting for more than 50.0% of the consumption in the region. In 2018, rice production in Asia used the highest quantity of nitrogenous fertilizer, accounting for 35.0% of the total consumption. Oil palm, the second-largest consumer of nitrogenous fertilizer, accounted for 17.0% of the total fertilizer consumption. Rice and oil palm production growths are expected to remain robust, driven by population and economic growth in the region.
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The nitrogenous fertilizer market is fragmented and has a significant presence of various small and large manufacturers. The top three companies have just about 15% of the nitrogenous fertilizer production capacity. However, there has been a little consolidation of the market over the past five years, especially in Europe and North America. The fragmented nature of the market is due to the wide availability of raw materials required for the manufacture of nitrogenous fertilizers.
In June 2018, Yara International ASA completed its acquisition of Tata Chemicals' urea business in India, marking a significant step forward for its growth ambitions in India. The acquired plant has an annual production of about 0.7 million tons of ammonia and 1.2 million tons of urea. With this acquisition, Yara expanded its production capacity to cater to the rising demand.
In 2016, CF Industries Holdings Inc. completed its expansion into Donaldsonville, Louisiana, and Port Neal, Iowa, with the launch of nitrogen complexes. The nitrogen capacity of the complexes is more than 25% in the Donaldsonville facility.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.2 Calcium Ammonium Nitrate (CAN)
5.1.3 Ammonium Nitrate
5.1.4 Ammonium Sulphate
5.1.6 Other Nitrogenous Fertilizers
5.2 By Application
5.2.1 Grains and Cereals
5.2.2 Pulses and Oilseeds
5.2.3 Fruits and Vegetables
5.2.4 Turf and Ornamentals
5.2.5 Other Applications
5.3 By Geography
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.3.3 Asia Pacific
184.108.40.206 Rest of Asia Pacific
5.3.4 South America
220.127.116.11 Rest of South America
18.104.22.168 South Africa
22.214.171.124 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Yara International ASA
6.3.2 CF Industries Holdings Inc.
6.3.4 Nutrien Inc.
6.3.5 UralChem JSC
6.3.6 OCI NV
6.3.7 Indian Farmers Fertiliser Cooperative
6.3.8 Coromandel International Ltd
6.3.9 EuroChem Group
6.3.10 Koch Industries Inc.
6.3.11 SABIC Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Nitrogenous Fertilizer Market market is studied from 2016 - 2026.
What is the growth rate of Nitrogenous Fertilizer Market?
The Nitrogenous Fertilizer Market is growing at a CAGR of 4.2% over the next 5 years.
Which region has highest growth rate in Nitrogenous Fertilizer Market?
Africa is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Nitrogenous Fertilizer Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Nitrogenous Fertilizer Market?
Yara International, CF Industries Holdings Inc., PJSC Togliattiazot, Nutrien Inc., EuroChem Group are the major companies operating in Nitrogenous Fertilizer Market.