AgroPages-Latin America Nitrogenous Fertilizers market to grow at a CAGR of 3.2% from 2014 to 2019-Agricultural news

Latin America Nitrogenous Fertilizers market to grow at a CAGR of 3.2% from 2014 to 2019

According to the report “Latin America Nitrogenous Fertilizer Market By Type, By Application and By Country - Trends and Forecast Up to 2019” ,the Latin America Nitrogenous Fertilizers market is estimated to grow at a CAGR of 3.2% from 2014 to 2019.

Ethanol, a common bio-fuel, particularly in Brazil, is advocated over conventional fuels. Increased use of bio-fuels has encouraged farmers to increase their farm production. Sugarcane is used for obtaining ethanol. This has pushed the demand for fertilizers.

In Latin America, nitrogenous fertilizers are majorly used in grains and oilseeds to meet domestic consumption and export demand. The grain and oilseed segment held a share of 68.54% of the total Latin America Nitrogenous Fertilizers market.

Brazil is the largest country in Latin America which held 51.45% of market share of the total Latin America Nitrogenous Fertilizers market. Brazil is estimated to grow with a higher CAGR than its Latin American counterparts.

The key players include Yara Internationals (Norway), EuroChem (Switzerland), Bunge (U.S.), Agrium Inc. (Canada), and Potash Corp Inc. (Canada).