Fertilizers provide three primary nutrients: Nitrogen (N), Phosphorus (P) and Potassium (K). Nitrogen supports vegetative growth. Phosphorus improves roots and flowering. Potassium strengthens resistance to environmental assaults, from extreme temperatures to pest attacks. Urea is that the most significant nitrogenous fertilizer within the market, with the very best Nitrogen content (about 46 percent). It’s a white crystalline organic chemical compound. Urea is neutral in pH and may adapt to most varieties of soils. It’s a waste formed naturally by metabolizing protein in humans also as other mammals, amphibians and a few fish. Urea is widely utilized in the agricultural sector both as a fertilizer and animal feed additive.
Urea is typically spread at rates of between 40 and 300 kg/ha (35 to 270 lbs/acre) but rates vary. Smaller applications incur lower losses due to leaching. During summer, urea is usually spread just before or during rain to attenuate losses from volatilization (a process wherein nitrogen is lost to the atmosphere as ammonia gas). Urea and ammonia together account for over 50% of the entire nitrogenous fertilizer market share in terms of both volume and revenue. Urea is additionally leading the merchandise type segment within the market in terms of growth due to its higher volume of consumption and affordable cost compared to the opposite products. It’s majorly preferred for acidic soil for crops such as corn, strawberries, and blueberries.
Growing health awareness globally has driven the demand for pulses owing to their dietary protein content. Pulses can convert and utilize the atmospheric nitrogen and hence consume less volume of fertilizers compared to the other crops. Both these crops have a demand-supply gap, as their annual yield does not meet the global requirement. These factors are anticipated to increase the usage of nitrogen fertilizers for the production of oilseeds & pulses, thus leading to an annual revenue growth rate of 5.1% from 2019 to 2025 in the market. Entrepreneurs who invest in this project will be successful.