The Report “Latin America Urea Fertilizers Market by Application (Grains & Oilseeds, Fruits & Vegetables, Rest (Crops)) - Forecasts till 2019”, is estimated to reach $4,654.4 million by 2019, growing at a CAGR of 3.0% from 2014 to 2019.
Browse through the TOC of the Latin America Urea Fertilizers Market for an analysis of industry trends and segments, with the help of various tables and figures.
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Fertilizers are used to aid the growth of crops, particularly when the soil lacks nutrients. Nitrogen is one of the key elements required for healthy crop yield. Crops that grow with the help of nitrogenous fertilizers usually have better and higher growth rates. This is because the nitrogen in the fertilizers assimilates into the chlorophyll, generating a better rate of photosynthesis for the plant. The use of nitrogenous fertilizers also gives crops a better color and texture.
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 thus 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 the conventional fuels. Increased use of bio-fuels has encouraged farmers in the region to increase farm production. Sugarcane is used for obtaining ethanol. This has pushed the demand for fertilizers.
The Latin American market for urea fertilizers is dominated by players such as PotashCorp, EuroChem, Agrium Inc., Yara International ASA, and so on. Mergers, acquisitions, and collaborations are among the key strategies adopted by these players to strengthen and sustain their positions in the Urea fertilizers market.
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