The Global Nitrogenous Fertilizers Market was worth $107.74 billion in 2016 and estimated to be growing at a CAGR of 3.40%, to reach $127.35 billion by 2021
Hyderabad, India -- (SBWIRE) -- 03/08/2018 -- According to a new market research report " Global Nitrogenous Fertilizers Market by Ingredient (Urea, Ammonium Nitrate, Ammonium Chloride, Sodium Nitrate, Ammonium Sulphate, Calcium Nitrate, Calcium Ammonium Nitrate (CAN), Other Nitrogenous Fertilizers), by Application (Crop Based-Oil seeds, Fruits & Vegetables, Grains & Cereals; Non Crop Based-Turf & Ornamental Grass and Others) and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)", published by MarketDataForecast™, the market is expected to reach USD 127.35 Billion by 2021 from USD 107.74 Billion in 2016, at a CAGR of 3.40%. Factors driving the growth of this market increasing global population resulting increase in disposable incomes and high effectiveness of nitrogenous fertilizers.
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Urea Based Fertilizers segment accounted for the largest market share in 2016
By ingredient, the Nitrogenous Fertilizers Market is classified into Urea, Ammonium Nitrate, Ammonium Chloride, Sodium Nitrate, Ammonium Sulphate, Calcium Nitrate, Calcium Ammonium Nitrate (CAN), Other Nitrogenous Fertilizers. The Urea based fertilizers segment dominated the global Nitrogenous Fertilizers Market in 2016. Ammonium nitrate is expected to grow with a high growth rate during the forecast period.
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The grains segment dominated the market in 2016
By application, the market is segmented into crop based & Non- crop based. Crop Based segment is further sub-segmented into Oil seeds, Fruits & Vegetables, Grains & Cereals, whereas Non Crop Based segment is further sub-segmented into Turf & Ornamental Grass and others. The grains segment accounted for the largest share of the global Nitrogenous Fertilizers Market in 2016.
Asia – Pacific is estimated to command the largest share of the market
Based on region, the Nitrogenous Fertilizers Market is segmented into North America, Europe, Asia, and Rest of the World (RoW). APAC is expected to dominate the Nitrogenous Fertilizers Market in 2016 and expected to do so in the near future followed by North America. North America is likely to have a slow growth rate because of market saturation.
Key players in the Nitrogenous Fertilizers Market include Yara International ASA, Coromandel International Ltd., Lp., Bunge Ltd., Agrium Inc., KOCH Industries Inc., Potash Corp., CF Industries
Holdings Inc., CVR Partners, Sinofert Holdings Ltd. and Eurochem.
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