- The key vendors in the nitrogenous fertilizers market in Brazil 2015-2019 are Heringer, Yara International, Mosaic and Fertipar.
London, 07 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the nitrogenous fertilizers market in Brazil 2015-2019. The government in Brazil is putting increased emphasis on economic, environmental, and social sustainability in the agriculture sector. Farmers are increasingly depending on organic practices and have initiated efforts to optimize soil productivity while simultaneously preserving its ability to function as a healthy medium. The nitrogenous fertilizers market in Brazil 2015-2019 is forecast to grow at a CAGR of 3.07% in terms of revenue and 4.44% in terms of volume during 2014-2019.
Vendors in the market are increasingly involved in M&A and joint venture sales. With the growth of the livestock industry, the need for higher yields of forage crops will drive the growth of the market in Brazil. The usage is further expected to grow as agricultural production expands to poorer soils.
Nitrogenous fertilizers are an important input in biofuel production and their use has dramatically increased over the years to meet the rising energy needs. Biofuels are sourced from energy crops that comprise wheat, soybean, corn, rapeseed, and sugarcane. Whereas biodiesel is made from crops such as soybean, ethanol needs corn syrup for its preparation.
“Fertilizer efficiency has become key in the market owing to the effects it has on environment and health. There have been efforts to develop catalysts that allow ammonia synthesis and nitrogen fixation using low levels of energy and resources,” says Faisal Ghaus, Vice President of Technavio Research.
“There has also been research in the development of denitrification inhibitors to reduce the environmental impact. Vendors are increasingly investing in R&D to come up with fertilizers with increased efficiency.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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