MarkNtel Advisors recently published a detailed industry analysis of the Nigeria Fertilizers Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Nigeria Fertilizers Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Nigeria Fertilizers Market size is valued at around USD 1.2 billion in 2024 and is projected to reach around USD 1.4 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.89% during the forecast period, i.e., 2025-30.

Key Findings in Nigeria Fertilizers Market:

• Historical Analysis: 2020–2023
• Base Year: 2024
• Forecast Period: 2025–2030

Leading Market Players- Dangote Fertilizer Plant, Indorama Eleme Fertilizer & Chemicals Ltd., Notore Chemical Industries Plc, Golden Fertilizer Company Ltd., EarthCare Nigeria Limited, OCP Africa, Kano Agriculture Supply Company Ltd., Superphosphate Fertilizer & Chemicals Ltd., Springfield Agro Ltd., Hamdala Fertilizer and Chemicals Co. Ltd., and Others

Key Highlights of the Report

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

What are the major Driver the Nigeria Fertilizers industry? 

Growing Agricultural Sector Drives the Fertilizer Demand – The Nigerian fertilizers industry is driven by the growing agricultural sector. The nation is among one of the largest food producers in Africa with 70.8 million hectares of agricultural area driving the demand for fertilizers. The consumption of fertilizers in 2023 was approx. 1.64 Million metric tons with 18.6kg per hectare. The rate of consumption of manure especially carbamide & Ammonium Sulphate has risen by 26% in the period 2022-23 despite the increased price. Also, the total production of urea in Nigeria rose by 6% from 2022 to 2023, indicating the potential growth and demand for fertilizers in Nigeria.  Various urea manufacturing facilities in Nigeria such as Notore, Indorama, and Dangote are producing urea with a capacity of 6.5 million tons. Consequently, the rising agricultural demand creates a robust environment for the fertilizers industry. For instance,

• August 2023, Dangote Fertilizer announced to enrich its urea production capacity to 3 million metric tons every year. This action reflected the company's response to the rising demand for composts driven by the agricultural sector's need to enhance productivity for the rising population.
• April 2023, Notore Chemical declared to raise its capacity for producing fertilizer by 25% in response to the growing food need. The company emphasized the need for additional fertilizers to ensure food security.

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What segments define the Nigeria Fertilizers Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?

By Product

• Complex Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons
• Straight Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons
• Nitrogenous Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons
• Urea- Market Size & Forecast 2020-2030, Thousand Tons
• Calcium Ammonium Nitrate- Market Size & Forecast 2020-2030, Thousand Tons
• Ammonium Nitrate- Market Size & Forecast 2020-2030, Thousand Tons
• Ammonium Sulfate- Market Size & Forecast 2020-2030, Thousand Tons
• Anhydrous Ammonia- Market Size & Forecast 2020-2030, Thousand Tons
• Others- Market Size & Forecast 2020-2030, Thousand Tons
• Phosphatic Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons
• Mono-Ammonium Phosphate (MAP) - Market Size & Forecast 2020-2030, Thousand Tons
• Di-Ammonium Phosphate (DAP) - Market Size & Forecast 2020-2030, Thousand Tons
• Single Super Phosphate (SSP) - Market Size & Forecast 2020-2030, Thousand Tons
• Triple Super Phosphate (TSP) - Market Size & Forecast 2020-2030, Thousand Tons
• Others- Market Size & Forecast 2020-2030, Thousand Tons
• Potash Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons
• Muriate of Potash (MoP) - Market Size & Forecast 2020-2030, Thousand Tons
• Sulfate of Potash (SoP) - Market Size & Forecast 2020-2030, Thousand Tons
• Secondary Macronutrient Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons
• Calcium Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons
• Magnesium Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons
• Sulfur Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons
• Micronutrient Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons
• Zinc- Market Size & Forecast 2020-2030, Thousand Tons
• Manganese- Market Size & Forecast 2020-2030, Thousand Tons
• Copper- Market Size & Forecast 2020-2030, Thousand Tons
• Iron- Market Size & Forecast 2020-2030, Thousand Tons
• Boron- Market Size & Forecast 2020-2030, Thousand Tons
• Molybdenum- Market Size & Forecast 2020-2030, Thousand Tons
• Others- Market Size & Forecast 2020-2030, Thousand Tons

According to report, With over 50% of the market share complex fertilizers are the market leaders in Nigeria.

By Type

• Chemical Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons
• Bio-Fertilizers- Market Size & Forecast 2020-2030, Thousand Tons

By Form

• Dry- Market Size & Forecast 2020-2030, Thousand Tons
• Liquid- Market Size & Forecast 2020-2030, Thousand Tons

According to report, Dry fertilizers are the leading segment acquiring approximately 80% of the total market share.

By Crop Type

• Grains and Cereals- Market Size & Forecast 2020-2030, Thousand Tons
• Pulses and Oilseeds- Market Size & Forecast 2020-2030, Thousand Tons
• Fruits and Vegetables- Market Size & Forecast 2020-2030, Thousand Tons
• Flowers and Ornamentals- Market Size & Forecast 2020-2030, Thousand Tons
• Others- Market Size & Forecast 2020-2030, Thousand Tons

By Application

• Fertigation- Market Size & Forecast 2020-2030, Thousand Tons
• Foliar- Market Size & Forecast 2020-2030, Thousand Tons
• Banding- Market Size & Forecast 2020-2030, Thousand Tons
• Drip Irrigation- Market Size & Forecast 2020-2030, Thousand Tons

Explore the Complete Nigeria Fertilizers Market Analysis Report – https://www.marknteladvisors.com/research-library/nigeria-fertilizers-market.html

Geographical Analysis: Nigeria Fertilizers Market

By Region

• North
• South
• East
• West

Nigeria Fertilizers Market Industry Recent Development:

•  August 2024: Nigeria launches Africa's largest fertilizer plant with an investment of around USD 2.5 billion in Lagos. With excess capacity to export to other African markets and the rest of the world, the new plant will enable Nigeria to become self-sufficient in the production of fertilizer.

• July 2024: OCP Africa and the IITA signed an Agreement to enhance sustainable agricultural practices. The collaboration also aims to enhance soil health and agricultural productivity across the region.

Key Questions Addressed in This Study

• What are the primary factors driving the growth of the Nigeria Fertilizers Market?
• How is the Nigeria Fertilizers Market expected to evolve over the next five years?
• What key insights can be drawn from current trends shaping the market?
• What is the current market size, and how is it forecasted to change in the coming years?
• What is the future outlook for the market in terms of technological innovation and geographic expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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