Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Nitrogenous Fertilizer Market Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The latest market research report on the global nitrogenous fertilizer industry provides a comprehensive analysis of market size, regional shares, competitive landscape, and growth opportunities. This in-depth study offers a future outlook for the industry, considering the current developments and potential factors that could influence market dynamics in the coming years.
Key Findings in the Nitrogenous Fertilizers Market Research
- Strong market size increase from $73.41 billion in 2023 to an expected $79.16 billion in 2024, with a CAGR of 7.8%.
- Anticipated growth at a CAGR of 8.4%, reaching $109.37 billion by 2028.
- Rising demand driven by global population growth and the need for enhanced crop productivity.
- Adoption of nanotechnology in fertilizer production is a significant trend enhancing soil fertility and sustainability.
- Strategic partnerships and acquisitions shaping the competitive landscape. Major players include Nutrien Ltd., Yara Fertilisers India Pvt Ltd., and many others.
- Asia-Pacific region leads the market and is forecasted to continue its dominance due to significant agricultural activities and emerging economies.
Market Dynamics Driving Global Demand for Nitrogenous Fertilizers
The report emphasizes the crucial role of nitrogenous fertilizers in meeting the increasing demands of a burgeoning global population for food and agriculture production. Nanotechnology has emerged as a notable trend, leading to the development of innovative, efficient, and sustainable agri-solutions like nano urea. The document highlights strategic business partnerships and expansions such as those seen in the collaboration between Porto do Açu Ltd. and Toyo Setal and Yara's acquisition of Ecolan to enhance market presence and capabilities.
Regional Analysis and Competitive Activities
Asia-Pacific's dominance in the nitrogenous fertilizers market is closely analyzed, with a focus on its rapid growth due to extensive agricultural practices and increased investments in the agriculture sector. The report also reviews the presence and influence of leading market players across various geographies and their engagement in activities such as expansions, new product launches, and mergers and acquisitions to maintain and boost their market standing.
Impact on Agricultural Practices and Environmental Footprint
The uptake of nitrogenous fertilizers and their integration into precision agriculture practices is also scrutinized, including the environmental implications and the push toward more eco-friendly farming practices. The investigation underlines the importance of balanced fertilizer application and the benefits of using enhanced-efficiency products to minimize environmental impact while maximizing crop yield and quality.
The nitrogenous fertilizer market overview provided in this report offers stakeholders valuable insights into the constantly evolving industry trends, market dynamics, and strategies being utilized by market leaders to address the challenges and opportunities within the sector.
This analysis is essential reading for anyone interested in understanding the forces shaping the future of the nitrogenous fertilizer market, including industry executives, farmers, policy makers, and environmental analysts. For detailed insights and further information, the full report is available now.
A selection of companies mentioned in this report includes
- Sorfert Algeria Spa
- OCI NV
- Nutrien Ltd.
- Yara Fertilisers India Pvt Ltd.
- Central Farmers Fertilizer Company
- Compo Expert Gmbh
- Coromandel International Ltd.
- EuroChem Group AG
- Indian Farmers Fertilizer Cooperative Ltd.
- Koch Industries Inc.
- Saudi Basic Industries Corp
- Wilbur-Ellis LLC
- Terra Nitrogen Company L.P.
- LSB Industries Inc.
- Shandong Hualu Hengsheng Chemical Co Ltd.
- Agrium Inc.
- Potash Corporation of Saskatchewan Inc.
- AgroLiquid
- Agrofert Holding AS
- Bunge Ltd.
- Fertiberia Sociedad Anonima
- Haifa Chemicals Ltd.
- Israel Chemicals Ltd.
- Kali und Salz GmbH
- The Mosaic Company
- PhosAgro
- Sinochem Hong Kong Holdings Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/5xpjb1
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