Nitrate Fertilizers Market: Overview
- Nitrate fertilizers are usually defined as products containing at least 50% of nitrogen in the form of nitrates
- Nitrate-based fertilizers have significantly lower environmental impact compared to urea-based fertilizers, primarily due to their incumbent properties such as lower leaching, lesser volatilization, and lower lifecycle carbon footprint
- Commonly available nitrate fertilizer formulations in the market are calcium ammonium nitrate, ammonium nitrate, NPK, calcium nitrate, liquid urea ammonium nitrate, and ammonium sulfate nitrate
Ease of Nitrate Absorption by Plants
- Ammonia is the base for nitrogen fertilizers. It constitutes nearly 82% of nitrogen. Constrained by biological and environmental factors, when ammonia is added to plants, it must be first converted to ammonium and nitrates before plants can absorb it. Urea transformation is relatively slow and difficult to predict in regions with lower temperatures such as Europe and the Americas. This results in efficiency and nitrogen losses.
- Therefore, nitrates are usually regarded as sound nitrogen fertilizers for agricultural conditions in Europe and the Americas. Thus, market share of nitrates is high in these regions.
- A study conducted by Foundation Bahia (Brazil) in 2018 demonstrated the benefits of nitrates that are more pronounced in tropical regions compared to colder climates. Russia, the U.S., China, France, Poland, and the Netherlands are the major producers of nitrate in the world.
- The COVID-19 pandemic has adversely impacted the nitrate fertilizer market. According to the World Bank Fertilizer Price Index, nitrate fertilizer prices declined due to the lower raw material costs and weak seasonal demand. The second wave of COVID-19 may impose more stringency, thereby disrupting the supply chain of nitrate fertilizers.
Calcium Nitrate Product Type Segment to Offer Lucrative Opportunities
- Based on product type, the global nitrate fertilizers market can be segmented into Calcium Ammonium Nitrate (CAN), Ammonium Nitrate (AN), NPK, Calcium Nitrate (CN), Liquid Urea Ammonium Nitrate (UAN), Ammonium Sulfate Nitrate (ASN), and Others
- In terms of consumption, the Calcium Nitrate (CN) segment holds major share of the global nitrate fertilizer’s market. Calcium nitrate possess solubility and strength building properties, thereby providing improved fruit quality and better storage.
Fruits & Vegetables Crop Type Segment to Hold Major Share of Market
- Demand for nitrate fertilizers varies significantly across the globe. Corn is the largest consumer of nitrate fertilizers in the U.S. owing to relatively higher bio-ethanol production in the country.
- Similarly, wheat and cereals account for larger share of the market in Europe and Russia. Rice and horticulture crops hold considerably high share of nitrate consumption in Asia.
Asia Pacific to Account for Prominent Share of Global Nitrate Fertilizers Market
- In terms of region, the global nitrate fertilizers market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific accounted for more than 50% share of the global nitrate consumption, especially in East Asian markets, including Japan, South Korea, Thailand, the Philippines, Malaysia, China, Indonesia, and Vietnam, in 2019. Over the past five years, tremendous acreage expansions have taken place in the treenuts and citrus fruit segment. This is anticipated to create ample space for nitrate fertilizer utilization in the Asia.
Key Players in Global Nitrate Fertilizers Market
The global nitrate fertilizers market is fragmented, with the presence of several regional and global manufacturers. Prominent players are investing in mergers, acquisitions, expansion, and new product launches in order to maintain their leading position in the market. Expansion of global reach is one of the key strategies adopted by major players such as Yara A/S to expand their share in the market.
Key players operating in the global nitrate fertilizers market include:
- Yara A/S
- Eurochem Industries
- Ostchem Holding
- CF Fertilisers
- Agrofert A/S
Global Nitrate Fertilizers Market: Research Scope
Global Nitrate Fertilizers Market, by Product Type
- Calcium Ammonium Nitrate (CAN)
- Ammonium Nitrate (AN)
- Calcium Nitrate (CN)
- Liquid Urea Ammonium Nitrate (UAN)
- Ammonium Sulfate Nitrate (ASN)
Global Nitrate Fertilizers Market, by Crop Type
- Cereals & Grains
- Pulses & Oilseeds
- Fruits & Vegetables
- Turf & Ornamental
Global Nitrate Fertilizers Market, by Mode of Application
Global Nitrate Fertilizers Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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