Major players in the nitrogenous water soluble fertilizer market are ICL Specialty Fertilizers, Yara International ASA, K+S Aktiengesellschaft, Agrium, Coromandel International Limited, Sociedad Química y Minera de Chile, The Mosaic Company, Nutrient Ltd.
New York, Aug. 01, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report "Nitrogenous Water Soluble Fertilizer Global Market Report 2023" – https://www.reportlinker.com/p06480021/?utm_source=GNW
, COMPO GmbH, EuroChem Group AG, BASF SE, Adama Agricultural Solutions, Uralchem Group, Nufarm, and Qatar fertilizer Company.
The global nitrogenous water soluble fertilizer market is expected to grow from $56.61 billion in 2022 to $60.97 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The nitrogenous water soluble fertilizer market is expected to reach $78.83 billion in 2027 at a CAGR of 6.6%.
The nitrogenous water soluble fertilizer market consists of sales of products such as calcium nitrate fertilizer, and magnesium nitrate fertilizer.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.
Nitrogenous water-soluble fertilizer refers to a type of fertilizer that contains nitrogen in the form of water-soluble fertilizers, which can be dissolved in water and are applied directly to the plant by drip irrigation and foliar application to improve nutrient use efficiency. They have many advantages over traditional fertilizers, such as better yields and better availability of soil nutrients.
Europe was the largest region in the nitrogenous water soluble fertilizer market in 2022. The regions covered in nitrogenous water soluble fertilizer report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of the nitrogenous water soluble fertilizer market are macroelement WSF, microelement WSF, and others.Macroelement WSF refers to a liquid or solid water-soluble fertilizer with macro-element nitrogen, phosphorus and potassium as the main components, and adding the appropriate amount of trace elements.
The crop types are field crops, horticultural crops, turf and ornamentals and others that are available in dry and liquid forms used in foliar and fertigation.
The growing popularity of commercial agriculture is expected to propel the growth of the nitrogenous water-soluble fertilizer market going forward.Agriculture refers to the large-scale production of crops and livestock to sell them and generate profit.
Agriculture practices often use nitrogenous water-soluble fertilizers as part of their nutrient management practices, hence driving the growth of the nitrogenous water-soluble fertilizer market. For instance, in May 2022, according to the GOV.UK, a UK-based government-operated official statistics website, 2021 highlights total crop output income increased by $11,782 million in 2021 from $1,950 million in 2020, and total livestock output income increased by $17,626 million in 2021 from $1,119 million in 2020. Therefore, the growing popularity of commercial agriculture is driving the growth of the nitrogenous water-soluble fertilizer market.
Technological innovations are a key trend gaining popularity in the nitrogenous water-soluble fertilizer market.Major companies operating in the nitrogenous water-soluble fertilizer market are innovating new technologies to sustain their position in the market.
For instance, in September 2022, Yara International, a Norway-based chemical company that manufactures fertilizers, launched the YaraIrix system for nitrogen water-soluble fertilizer.The YaraIrix system comes with a free app (for Android and iOS) that users can download and use to calculate the nitrogen requirements of various crops throughout their early growth phases.
The app is supported by two hardware alternatives (a smartphone clip and a Bluetooth N-Tester) for subsequent growth phases.After taking a measurement, the software immediately recommends how much fertilizer the crops require.
The N-Tester Clip can be used to boost the system. The hardware accessory converts the smartphone camera into a nitrogen sensor by clipping it on.
In September 2021, Yara International, a Norway-based chemical company that manufactures fertilizers, acquired Ecolan Oy for an undisclosed amount.This acquisition broadens and expands Yara’s portfolio in providing organic fertilizers and increases the efficiency of crop nutrition.
Ecolan Oy is a Finland-based company operating in nitrogenous water-soluble fertilizers.
The countries covered in the nitrogenous water soluble fertilizer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The nitrogenous water soluble fertilizer market research report is one of a series of new reports that provides nitrogenous water soluble fertilizer market statistics, including nitrogenous water soluble fertilizer industry global market size, regional shares, competitors with a nitrogenous water soluble fertilizer market share, detailed nitrogenous water soluble fertilizer market segments, market trends and opportunities, and any further data you may need to thrive in the nitrogenous water soluble fertilizer industry. This nitrogenous water soluble 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.
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