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Nitrate Fertilizers Market: Introduction

  • Nitrate is a polyatomic ion with the chemical formula NO− 3. Salts containing this ion are called nitrates. Nitrate is a common components of fertilizers and explosives. Almost all inorganic nitrates are soluble in water. An example of an insoluble nitrate is bismuth oxynitrate.
  • Nitrates are primarily used as fertilizers in agriculture, as they possess high solubility and biodegradability. Major nitrate fertilizers are ammonium, sodium, potassium, and calcium salts.
  • Nitrate fertilizers are readily soluble in water and quickly available to plants. If plants need nitrogen urgently, soil use of nitrate fertilizers gives quick response. Use of nitrate fertilizers is not recommended for very moist and waterlogged soils, as nitrate nitrogen is either leached down along with excess moisture or converted into gaseous form and lost to the atmosphere due to lack of oxygen in these situations.
  • Sodium nitrate fertilizer is obtained from natural deposits in Chile and is usually marketed as moisture-resistant granules. The nitrogen is readily available and the sodium is of value to some market garden crops. It is expensive and not widely used.
  • Calcium nitrate is a double salt of calcium nitrate and ammonium nitrate in prilled form
  • Ammonium nitrate and calcium nitrate are pure nutrients that have demonstrated clear environmental advantages over urea and UAN

Key Drivers and Restraints of Nitrate Fertilizers Market

Increase in demand for fertilizers is boosting the nitrate fertilizers market. The nitrate fertilizers market is also expected to expand, due to the rise in demand for food, growth in population, and rise in government funding for the usage of advanced techniques and fertilizers for high productivity. However, excess amount of nitrate in drinking water promulgates blue baby syndrome. Nitrate leaching occurs when the soil is saturated with water and nitrate is washed beyond the root zone by percolating rainfall or irrigation. This is negatively affecting the nitrate fertilizers market.

Nitrate Fertilizers Market: Crop Type Segment

  • Based on crop type, the nitrate fertilizers market can be divided into pulses & oilseeds, cereals & grains, fruits & vegetables, turf & ornamentals, and others.
  • Cereals & grains is the leading crop type segment of the market owing to the rise in demand for food for the growing population. Shrinking farmland and increase in demand for food crops such as wheat, maize, rice, barley, and oats are boosting the demand for agricultural chemicals. Nitrate is applied to cereals and grains in the form of soil additives or sprinklers.
  • Oilseed is one of the highest revenue-generating crops owing to its demand in the production of edible oil. Mustard and soybean are the highly consumed edible oilseeds. Soil required for the growth of these crops needs to have a balance of nitrogen, sulfur, and calcium. These factors are anticipated to increase the usage of nitrate fertilizers in the production of oilseeds.

COVID-19 Impact on Global Nitrate Fertilizers Market

  • On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
  • Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
  • China is one of the major fertilizer producers and exporters in the world. The lockdown in China had a major impact on international fertilizer trade. When lockdown began in China, the impact was severe in terms of production cuts due to labor shortage and transportation issues. This resulted in piling up of stock.
  • Prices are at an all-time low and inventories are high, with demand uncertain in producing nations
  • The COVID-19 pandemic adversely impacted the prices of nitrate fertilizers, as lower input costs and weak seasonal demand outweighed the gradual easing of supply bottlenecks. Disruptions in supply had a negative impact on the international trade of the market.

Asia Pacific to Hold Leading Share of Global Nitrate Fertilizers Market

  • In terms of region, the nitrate fertilizers market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is expected to hold major share of the global nitrate fertilizers market, followed by North America and Europe, during the forecast period
  • China and India account for the largest consumption share of the fertilizer market in Asia Pacific, with China alone holding more than 50.0% share of the consumption in the region. In 2018, rice production in Asia used the highest quantity of nitrate fertilizers, accounting for 35.0% of the total consumption. Oil palm, the second-largest consumer of nitrate fertilizer, accounted for 17.0% of the total fertilizer consumption in the year. Rice and oil palm production growth is expected to remain robust, driven by population and economic growth in the region
  • The market in Europe and North America is likely to witness steady growth during the forecast period due to market saturation, while Latin America and Africa are predicted to exhibit high growth in the next few years, owing to the huge cultivation of rice, corn, and sugarcane in these regions

Key Manufacturers Operating in Global Nitrate Fertilizers Market

The nitrate fertilizers market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the nitrate fertilizers market include:

  • Haifa Chemicals
  • Migao Corporation
  • SQM
  • Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC)
  • Uralchem Group
  • Wengfu Group
  • Deepak Fertilisers and Petrochemicals Corporation Limited

Nitrate Fertilizers: Research Scope

Nitrate Fertilizers Market, by Type

  • Sodium Nitrate
  • Potassium Nitrate
  • Calcium Nitrate
  • Ammonium Nitrate
  • Magnesium Nitrate

Nitrate Fertilizers Market, by Crop Type

  • Grains & Cereals
  • Pulses & Oilseeds
  • Fruits & Vegetables
  • Turf & Ornamentals
  • Others

Nitrate Fertilizers Market, by Application

  • Soil
  • Foliar
  • Fertigation
  • Others

Global Nitrate Fertilizers Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Nitrate Fertilizers Market