Irving, Texas (PRWEB) May 13, 2013
The global nitrogen fertilizer market is forecast to reach an estimated US $109.83 billion in 2017 with good progress over the next five years. Global population growth and insufficiently nutritious diets are the major concerns in emerging countries. These issues drive the application of nitrogen fertilizer, and are leading the industry to future growth.
Lucintel, a leading global management consulting and market research firm, has analyzed the global nitrogen fertilizer industry and presents its findings in “Global Nitrogen Fertilizer Industry 2012-2017: Trend, Profit, and Forecast Analysis.”
The nitrogen fertilizer industry industry is fragmented, and is highly dependent on crop yield, farmer awareness, and the availability of credit. The Asia Pacific (APAC) region dominates the industry. APAC witnessed the highest growth during last the five years due to increased meat and dairy product consumption. The higher consumption led to greater demand for additional plant cultivation in APAC, and therefore a higher demand for nitrogen fertilizers. Unfavorable weather conditions have negatively affected crop production in many producer countries. This scenario has led to a constant decrease in the world’s crop stocks, which in turn creates a higher demand for nitrogen fertilizers.
Lucintel’s Chemical market research indicates that raw materials such as crude oil,
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