Pune, India, December 16, 2021 (GLOBE NEWSWIRE) – The world nitrogen fertilizer market the size is expected to reach $ 140.51 billion by the end of 2026. The massive investments in R&D products containing active ingredients will help the market growth. According to a report published by Fortune Business Insights, titled “Nitrogen Fertilizer Market Size, Industry Share and Analysis, By Type (Urea, Ammonium Calcium Nitrate, UAN, Ammonium Sulfate, and Other Nitrogen Fertilizers), By Crop Type (Cereals, Pulses, and Oilseeds , fruits and vegetables, and turf and ornamentals), and regional forecast, 2019 – 2026,âThe market was worth USD 113.70 billion in 2018 and will display a CAGR of 2.73% during the forecast period, 2019-2026.
Nitrogen fertilizers are products made from a combination of substances that contain nitrogen. The ever increasing world population has created a subsequent demand for agricultural production across the world. Recent advances in agricultural activities will emerge in favor of companies operating in the market. The growing number of agricultural subsidies will bode well for nitrogen fertilizer vendors around the world. The ability of nitrogen fertilizers to improve the nutrient content of agricultural production will lead to wider adoption of the product across the world.
The increasing number of business collaborations will contribute to the growth of the market
The report encompasses several factors which have contributed to the growth of the market in recent years. The increasing number of mergers and acquisitions of companies has had a huge impact on the growth of the market. Considering the massive demand for crops and plant production across the world, large companies are looking to acquire smaller companies with the aim of establishing a strong position in the market. In November 2019, Nutrien Ltd. announced that it has completed the acquisition of Ruralco Holdings Ltd. Through this acquisition, the company plans to expand its existing line of nitrogen fertilizer products. Due to the company’s large global customer base, this acquisition will not only help the business grow, but will also have a huge impact on market growth in the years to come.
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Asia-Pacific has the highest market share; Growing demand for agricultural products will drive growth
The report analyzes current nitrogen fertilizer market trends in North America, Latin America, Asia-Pacific, Middle East and Africa. Among these regions, the Asia-Pacific region market holds the highest market share, due to the huge demand for crop production in several countries in this region. Besides Asia-Pacific, the market in North America will experience considerable growth in the years to come. In 2018, the market in North America was worth 21.18 billion USD and this value is expected to increase further in the years to come.
Some of the companies that operate in the market include:
- Yara International ASA
- Nutrien Ltd.
- EuroChem Group AG.
- CF Industries Holdings Inc.
- PJSC Togliattiazot
- Koch Fertilizers, LLC
- OIC nitrogen
- Sinofert Holdings Limited
- Coromandel International Ltd.
- URALCHEM Holding Plc.
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Detailed table of contents:
- Scope of research
- Market segmentation
- Research methodology
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Key ideas
- Parent / Related Market Overview
- Supply chain and regulatory analysis
- SWOT Analysis of the Industry
- Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers and Acquisitions
- Global Nitrogen Fertilizer Market Analysis, Outlook and Forecast, 2015-2026
- Main conclusions / summary
- Market Analysis, Information & Forecast – By Type
- Ammonium and calcium nitrate
- Ammonium nitrate
- Ammonium sulphate
- Other nitrogen fertilizers
- Market analysis, information and forecasts – by crop type
- Oilseeds & Legumes
- Fruits and vegetables
- Lawn and ornamental plants
- Market Analysis, Information & Forecast – By Region
- North America
- Asia Pacific
- South America
- Middle East and Africa
January 2018: Tata Chemicals announced that it has completed the sale of its urea fertilizer business unit to Yara Fertilizers India for an estimated amount of INR 2,682 crore.
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