Fertilizers export value worldwide 2023, by leading country

In 2023, Russia was the world's largest exporter of agricultural fertilizers, with exports valued at approximately 15.2 billion U.S. dollars that year. The total market size of the global fertilizer industry was valued at around 93 billion U.S. dollars in 2022, emphasizing the immense economic significance of the fertilizer industry and its contribution to global agricultural sustainability.

Global fertilizer production

In terms of production, the global volume of urea, a widely used nitrogen-based fertilizer, reached a staggering 179.8 million metric tons in 2022. This immense production volume for even just this one fertilizer type indicates the substantial scale of fertilizer manufacturing necessary to meet the growing global agricultural needs. Alongside urea there were also global fertilizer production volumes of a similar order of magnitude for phosphorous-based fertilizers, diammonium phosphate (DAP) and triple superphosphate (TSP); and potassium-based fertilizer, muriate of potash (MOP). However, such massive production and consumption of fertilizers also pose serious environmental and social challenges, such as water pollution, greenhouse gas emissions, soil degradation and food insecurity. Therefore, finding sustainable and innovative solutions for fertilizer management is crucial for ensuring the long-term well-being of both humans and nature.

Projected fertilizer demand

Looking ahead, there is a projected decline in the demand for urea. While the demand for urea in 2018 reached a maximum of 202.46 million metric tons, it is expected to decrease to 183 million metric tons in 2024. This decline in demand signifies a decrease in the need for this nitrogen-based fertilizer. However, despite the declining demand for urea, the overall demand for fertilizer nutrients, including nitrogen, phosphorus, and potassium, is projected to reach 208.3 million metric tons by 2026. These projections stress the ongoing importance of fertilizers in meeting global agricultural demands and ensuring the long-term sustainability of food production worldwide, even in light of the potentially disruptive environmental impacts that can result from their overuse and miss-management.