The nitrogen fertilizer market size has grown strongly in recent years. It will grow from $94.82 billion in 2023 to $101.11 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The expansion observed in the historical period can be ascribed to factors such as population growth and increased demand for food, progress in agricultural practices, government subsidies and policies, climate and weather conditions, and the dynamics of global trade and supply chains.
The nitrogen fertilizer market size is expected to see strong growth in the next few years. It will grow to $131.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated expansion in the forecast period is linked to environmental regulations and sustainability initiatives, increasing apprehensions regarding food security, the adoption of bio-based nitrogen fertilizers, strategies for climate change adaptation, and a heightened awareness of soil health. Key trends projected for the forecast period encompass advancements in fertilizer technology through research and development, the emergence of digital agriculture platforms, the implementation of precision agriculture technologies, innovations in fertilizer production technology, and a growing demand for urea-based fertilizers.
Globally, governments are making substantial investments to uplift the agricultural sector, thereby fostering an increased demand for fertilizers. As an illustration, the Indian government has announced additional fixed costs of $6.77 (Rs 500) for urea factories older than 30 years but still in production, with 30 urea factories receiving fixed costs at a rate of $4.74 (Rs 350) per metric ton. Considering that India imports over 50 lakh tons of urea, valued at more than a billion dollars annually, this initiative aims to enhance domestic urea production and reduce reliance on imports. Such initiatives in various countries are anticipated to support and boost the agricultural sector, consequently driving growth in the fertilizer market.
The anticipated growth of the nitrogen fertilizer market is further propelled by increasing crop losses. Crop losses, signifying a reduction in the quantity or quality of agricultural crops due to factors such as natural disasters, pests, diseases, adverse weather conditions, and other unfavorable events, highlight the importance of nitrogen fertilizers. Nitrogen, being an essential nutrient for plant growth, plays a crucial role in enhancing crop yields. For example, a report from the Food and Agriculture Organization published in June 2021 revealed that up to 40% of the world's annual food yield was lost to pests. This resulted in an annual economic loss of over $220 billion due to plant diseases and at least $70 billion attributed to invasive insects globally. Consequently, the escalating crop losses underscore the significance of nitrogen fertilizers, contributing to the growth of the nitrogen fertilizer market.
Nitrogen significantly influences the pH balance of the soil, determining its acidity or alkalinity based on the type of nitrogen fertilizer employed. The pH value serves as an indicator of a solution's alkalinity or acidity. The increased use of nitrogen fertilizers has led to crops developing resistance, contributing to soil and environmental degradation. Ammonium nitrogen fertilizers, a major contributor to soil erosion, primarily cause soil acidification by affecting the electrical balance in plants, as stated by the Department of Primary Industries and Regional Development, Government of Australia. Consequently, the environmental impact of nitrogen fertilizers poses limitations on market growth.
The urea market is experiencing rapid expansion within the fertilizer market due to its role in controlling air pollution through catalytic reactions. Urea, a water-soluble compound consisting of 46% nitrogen, is easily stored, transported, and handled. It enhances soil productivity and nutrient levels. The International Fertilizers Association (IFA) forecasts a net increase of 17 metric tons in global urea capacity annually, with total production estimated to reach 226 metric tons by 2021. The anticipated rise in urea production augurs well for the nitrogen fertilizer market.
Leading companies in the nitrogen fertilizer sector are adopting a strategic partnership approach to establish a significant market presence, producing and distributing various nitrogen-based fertilizers for agricultural and industrial applications. Strategic partnerships involve one or more business contracts between commercial entities. For example, in June 2022, Yara International ASA, a Norway-based nitrogen fertilizer producer, formed a partnership with the Japan Bank for International Cooperation, a Japanese public financial institution. This collaboration focuses on developing and implementing projects aimed at decarbonizing the nitrogen fertilizer industry. The initiatives include the development and production of low-carbon nitrogen fertilizers, as well as projects to enhance the efficiency of nitrogen fertilizer production and usage.
In September 2021, Yara Suomi Oy, a Finland-based fertilizer company, acquired Ecolan Oy for an undisclosed amount. This acquisition marks Yara's entry into the organic fertilizer segment, allowing contributions to organic farming and the circular economy. Ecolan Oy, based in Finland, specializes in producing recycled fertilizers, including nitrogen fertilizers.
Major companies operating in the nitrogen fertilizer market report are Koch Industries Inc., BASF SE, Bunge Limited, Dow Chemical Company, Saudi Basic Industries Corporation, Nutrien Inc., Potash Corp., Mitsubishi Chemical Corporation, Yara International ASA, Sumitomo Chemical Co. Ltd., Sinofert Holdings Limited, The Mosaic Co., DuPont de Nemours Inc., Sinochem Group Co. Ltd., CF Industries Holdings Inc., Sociedad Química y Minera de Chile, EuroChem Group AG, Israel Chemicals Ltd., OCI NV, UBE Industries Ltd., Shandong Hualu-Hengsheng Chemical Co. Ltd., Uralkali PJSC, Wilbur-Ellis Company LLC, Indian Farmers Fertiliser Cooperative Limited, TogliattiAzot JSC, CVR Partners LP, Haifa Group Ltd., Terra Nitrogen Company LP, Agrium Inc., Coromandel International Ltd. Asia-Pacific was the largest region in the nitrogen fertilizer market in 2023. North America was the second-largest region in the global nitrogen fertilizer market. The regions covered in the nitrogen fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The primary types of nitrogen fertilizers include urea, calcium ammonium nitrate (CAN), ammonium nitrate, ammonium sulfate, ammonia, and various other nitrogenous fertilizers. Ammonium nitrate, a white, crystalline, water-soluble powder (NH4NO3), is produced by reacting nitric acid with vaporous ammonia. It is primarily employed in explosives, fertilizers, freezing mixtures, and the production of nitrous oxide. Nitrogen fertilizers are available in liquid, dry, and other forms, and application methods include soil, foliar, fertigation, and others. These fertilizers find applications in cereals and grains, oilseeds and pulses, fruits and vegetables, as well as other agricultural uses.
The nitrogen fertilizer market research report is one of a series of new reports that provides nitrogen fertilizer market statistics, including nitrogen fertilizer industry global market size, regional shares, competitors with a nitrogen fertilizer market share, detailed nitrogen fertilizer market segments, market trends and opportunities, and any further data you may need to thrive in the nitrogen fertilizer industry. This nitrogen fertilizer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The countries covered in the nitrogen fertilizer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The nitrogen fertilizer market consists of the sales of nitrogen fertilizers in forms such as anhydrous ammonia, urea, and urea-ammonium nitrate (UAN) solutions. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The nitrogen fertilizer market size is expected to see strong growth in the next few years. It will grow to $131.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated expansion in the forecast period is linked to environmental regulations and sustainability initiatives, increasing apprehensions regarding food security, the adoption of bio-based nitrogen fertilizers, strategies for climate change adaptation, and a heightened awareness of soil health. Key trends projected for the forecast period encompass advancements in fertilizer technology through research and development, the emergence of digital agriculture platforms, the implementation of precision agriculture technologies, innovations in fertilizer production technology, and a growing demand for urea-based fertilizers.
Globally, governments are making substantial investments to uplift the agricultural sector, thereby fostering an increased demand for fertilizers. As an illustration, the Indian government has announced additional fixed costs of $6.77 (Rs 500) for urea factories older than 30 years but still in production, with 30 urea factories receiving fixed costs at a rate of $4.74 (Rs 350) per metric ton. Considering that India imports over 50 lakh tons of urea, valued at more than a billion dollars annually, this initiative aims to enhance domestic urea production and reduce reliance on imports. Such initiatives in various countries are anticipated to support and boost the agricultural sector, consequently driving growth in the fertilizer market.
The anticipated growth of the nitrogen fertilizer market is further propelled by increasing crop losses. Crop losses, signifying a reduction in the quantity or quality of agricultural crops due to factors such as natural disasters, pests, diseases, adverse weather conditions, and other unfavorable events, highlight the importance of nitrogen fertilizers. Nitrogen, being an essential nutrient for plant growth, plays a crucial role in enhancing crop yields. For example, a report from the Food and Agriculture Organization published in June 2021 revealed that up to 40% of the world's annual food yield was lost to pests. This resulted in an annual economic loss of over $220 billion due to plant diseases and at least $70 billion attributed to invasive insects globally. Consequently, the escalating crop losses underscore the significance of nitrogen fertilizers, contributing to the growth of the nitrogen fertilizer market.
Nitrogen significantly influences the pH balance of the soil, determining its acidity or alkalinity based on the type of nitrogen fertilizer employed. The pH value serves as an indicator of a solution's alkalinity or acidity. The increased use of nitrogen fertilizers has led to crops developing resistance, contributing to soil and environmental degradation. Ammonium nitrogen fertilizers, a major contributor to soil erosion, primarily cause soil acidification by affecting the electrical balance in plants, as stated by the Department of Primary Industries and Regional Development, Government of Australia. Consequently, the environmental impact of nitrogen fertilizers poses limitations on market growth.
The urea market is experiencing rapid expansion within the fertilizer market due to its role in controlling air pollution through catalytic reactions. Urea, a water-soluble compound consisting of 46% nitrogen, is easily stored, transported, and handled. It enhances soil productivity and nutrient levels. The International Fertilizers Association (IFA) forecasts a net increase of 17 metric tons in global urea capacity annually, with total production estimated to reach 226 metric tons by 2021. The anticipated rise in urea production augurs well for the nitrogen fertilizer market.
Leading companies in the nitrogen fertilizer sector are adopting a strategic partnership approach to establish a significant market presence, producing and distributing various nitrogen-based fertilizers for agricultural and industrial applications. Strategic partnerships involve one or more business contracts between commercial entities. For example, in June 2022, Yara International ASA, a Norway-based nitrogen fertilizer producer, formed a partnership with the Japan Bank for International Cooperation, a Japanese public financial institution. This collaboration focuses on developing and implementing projects aimed at decarbonizing the nitrogen fertilizer industry. The initiatives include the development and production of low-carbon nitrogen fertilizers, as well as projects to enhance the efficiency of nitrogen fertilizer production and usage.
In September 2021, Yara Suomi Oy, a Finland-based fertilizer company, acquired Ecolan Oy for an undisclosed amount. This acquisition marks Yara's entry into the organic fertilizer segment, allowing contributions to organic farming and the circular economy. Ecolan Oy, based in Finland, specializes in producing recycled fertilizers, including nitrogen fertilizers.
Major companies operating in the nitrogen fertilizer market report are Koch Industries Inc., BASF SE, Bunge Limited, Dow Chemical Company, Saudi Basic Industries Corporation, Nutrien Inc., Potash Corp., Mitsubishi Chemical Corporation, Yara International ASA, Sumitomo Chemical Co. Ltd., Sinofert Holdings Limited, The Mosaic Co., DuPont de Nemours Inc., Sinochem Group Co. Ltd., CF Industries Holdings Inc., Sociedad Química y Minera de Chile, EuroChem Group AG, Israel Chemicals Ltd., OCI NV, UBE Industries Ltd., Shandong Hualu-Hengsheng Chemical Co. Ltd., Uralkali PJSC, Wilbur-Ellis Company LLC, Indian Farmers Fertiliser Cooperative Limited, TogliattiAzot JSC, CVR Partners LP, Haifa Group Ltd., Terra Nitrogen Company LP, Agrium Inc., Coromandel International Ltd. Asia-Pacific was the largest region in the nitrogen fertilizer market in 2023. North America was the second-largest region in the global nitrogen fertilizer market. The regions covered in the nitrogen fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The primary types of nitrogen fertilizers include urea, calcium ammonium nitrate (CAN), ammonium nitrate, ammonium sulfate, ammonia, and various other nitrogenous fertilizers. Ammonium nitrate, a white, crystalline, water-soluble powder (NH4NO3), is produced by reacting nitric acid with vaporous ammonia. It is primarily employed in explosives, fertilizers, freezing mixtures, and the production of nitrous oxide. Nitrogen fertilizers are available in liquid, dry, and other forms, and application methods include soil, foliar, fertigation, and others. These fertilizers find applications in cereals and grains, oilseeds and pulses, fruits and vegetables, as well as other agricultural uses.
The nitrogen fertilizer market research report is one of a series of new reports that provides nitrogen fertilizer market statistics, including nitrogen fertilizer industry global market size, regional shares, competitors with a nitrogen fertilizer market share, detailed nitrogen fertilizer market segments, market trends and opportunities, and any further data you may need to thrive in the nitrogen fertilizer industry. This nitrogen fertilizer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The countries covered in the nitrogen fertilizer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The nitrogen fertilizer market consists of the sales of nitrogen fertilizers in forms such as anhydrous ammonia, urea, and urea-ammonium nitrate (UAN) solutions. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Nitrogen Fertilizer Market Characteristics3. Nitrogen Fertilizer Market Trends and Strategies32. Global Nitrogen Fertilizer Market Competitive Benchmarking33. Global Nitrogen Fertilizer Market Competitive Dashboard34. Key Mergers and Acquisitions in the Nitrogen Fertilizer Market
4. Nitrogen Fertilizer Market - Macro Economic Scenario
5. Global Nitrogen Fertilizer Market Size and Growth
6. Nitrogen Fertilizer Market Segmentation
7. Nitrogen Fertilizer Market Regional and Country Analysis
8. Asia-Pacific Nitrogen Fertilizer Market
9. China Nitrogen Fertilizer Market
10. India Nitrogen Fertilizer Market
11. Japan Nitrogen Fertilizer Market
12. Australia Nitrogen Fertilizer Market
13. Indonesia Nitrogen Fertilizer Market
14. South Korea Nitrogen Fertilizer Market
15. Western Europe Nitrogen Fertilizer Market
16. UK Nitrogen Fertilizer Market
17. Germany Nitrogen Fertilizer Market
18. France Nitrogen Fertilizer Market
19. Italy Nitrogen Fertilizer Market
20. Spain Nitrogen Fertilizer Market
21. Eastern Europe Nitrogen Fertilizer Market
22. Russia Nitrogen Fertilizer Market
23. North America Nitrogen Fertilizer Market
24. USA Nitrogen Fertilizer Market
25. Canada Nitrogen Fertilizer Market
26. South America Nitrogen Fertilizer Market
27. Brazil Nitrogen Fertilizer Market
28. Middle East Nitrogen Fertilizer Market
29. Africa Nitrogen Fertilizer Market
30. Nitrogen Fertilizer Market Competitive Landscape and Company Profiles
31. Nitrogen Fertilizer Market Other Major and Innovative Companies
35. Nitrogen Fertilizer Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Nitrogen Fertilizer Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on nitrogen fertilizer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for nitrogen fertilizer? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Urea; Calcium Ammonium Nitrate (CAN); Ammonium Nitrate; Ammonium Sulphate; Ammonia; Other Nitrogenous Fertilizers
2) By Form: Liquid; Dry; Other Forms
3) By Treatment: Soil; Foliar; Fertigation; Other Treatments
4) By Application: Cereals and Grains; Oilseeds and Pulses; Fruits and Vegetables; Other Applications
Key Companies Mentioned: Koch Industries Inc.; BASF SE; Bunge Limited; Dow Chemical Company; Saudi Basic Industries Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Koch Industries Inc.
- BASF SE
- Bunge Limited
- Dow Chemical Company
- Saudi Basic Industries Corporation
- Nutrien Inc.
- Potash Corp.
- Mitsubishi Chemical Corporation
- Yara International ASA
- Sumitomo Chemical Co. Ltd.
- Sinofert Holdings Limited
- The Mosaic Co.
- DuPont de Nemours Inc.
- Sinochem Group Co. Ltd.
- CF Industries Holdings Inc.
- Sociedad Química y Minera de Chile
- EuroChem Group AG
- Israel Chemicals Ltd.
- OCI NV
- UBE Industries Ltd.
- Shandong Hualu-Hengsheng Chemical Co. Ltd.
- Uralkali PJSC
- Wilbur-Ellis Company LLC
- Indian Farmers Fertiliser Cooperative Limited
- TogliattiAzot JSC
- CVR Partners LP
- Haifa Group Ltd.
- Terra Nitrogen Company LP
- Agrium Inc.
- Coromandel International Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 101.11 Billion |
| Forecasted Market Value ( USD | $ 131.97 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
