According to the new market research report “Latin America Urea Fertilizers Market by Application (Grains & Oilseeds, Fruits & Vegetables, Rest (Crops)),By Countries - Regional Trend & Forecast to 2019”, the Latin America Urea Fertilizer Market is Estimated to Reach $5,885.4 Million in 2019, at a CAGR of 3.0% from 2014 to 2019.
Browse through the TOC of Latin America Urea Fertilizer Market for an analysis of industry trends, segments & forecasts.
The Latin America urea fertilizers market is estimated to grow at a CAGR of 3.0% from 2014 to 2019. The demand for urea fertilizers has continued to remain robust across all regions. This is because of the constantly rising grain prices in recent years, which have encouraged farmers to maximize yield. Additionally, the increase in income has made fertilizers more affordable.
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Urea is the easiest and abundant source of nitrogen nutrients. Grains & oilseeds, fruits & vegetables and rest (crops) are the different crops to which urea is applied and it depends on the capacity of the crops to synthesize naturally. Cost to produce urea depends on the cost of its raw material, which is natural gas and ammonia.
Latin America urea fertilizers market is dominated by Brazil, followed by Argentina. In Brazil, the agriculture sector is well advanced and enjoys abundant land & sufficient rainfall. There are no odds against the agriculture sector and it is growing at a significant rate. Thus, there is a considerable demand for agriculture fertilizers from this part of the world. Ethanol, a common bio-fuel, particularly in Brazil, is advocated over conventional fuels. The increased use of bio-fuels has encouraged farmers to increase the farm production. Sugarcane is used for obtaining ethanol. This has also pushed the demand for fertilizers in the region.
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The Latin America urea fertilizers market is a highly competitive market, with firms such as Agrium Inc. (Canada), Yara International ASA (Norway), Potash Corp SAS Inc. (Canada), and EuroChem (Belgium), among others, who are expanding their market shares in the Latin American market. To gain significant market shares, these companies are adopting numerous market strategies including innovative product developments, partnerships, mergers and acquisitions, and expansion of existing facilities. Apart from these companies, there are a large number of small firms present in the Latin American market.
The key companies operating in the Key players in the Latin America Urea Fertilizer Market include CF Industries Holdings, Inc., Yara International ASA, Agrium Inc., and PotashCorp
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