World fertilizer demand by nutrient 2024

Agricultural fertilizers are essential for maintaining soil fertility and ensuring high crop yields. From 2011/2012 to 2023/2024 there has been a considerable increase in the global demand for these three primary nutrient fertilizers: Nitrogen (N), phosphorus pentoxide (P₂O₅), and potassium oxide (K₂O). Over this period, nitrogen was consistently the most sought-after; with an estimated demand of 109.7 million metric tons in 2022/2023, and a forecast demand of 111.6 million metric tons in 2023/2024. The use of these nutrient fertilizers is an essential component of many aspects of modern agriculture. Nitrogen is essential for protein production and photosynthesis; phosphorus supports energy transfer, root growth, and flowering.; and potassium regulates plant processes, enhances disease resistance, and improves crop quality. The increasing demand for these nutrients reflects their importance in facilitating high crop yields and agricultural productivity, to ensure food security amongst a growing global population.

Who are the major players?

Several major companies dominate the global fertilizer production industry. Nutrien, formed by the merger of PotashCorp and Agrium in 2018, is a leading fertilizer producer, especially known for its potash production. Yara International, based in Norway, is another key player, focusing on nitrogen-based fertilizers. The Mosaic Company, headquartered in the U.S, specializes in potash fertilizers and phosphate, and CF Industries, also from the U.S., is a major producer of nitrogen fertilizers.

Environmental concerns

The steady growth in the global demand for fertilizers, from 177.2 million metric tons in 2011/2012 to a forecast 195.4 million metric tons in 2023/2024, highlights the importance of these nutrients within the global agricultural industry. However, the overapplication of these fertilizers is also a significant concern, as it can lead to nutrient runoff into water systems and ecosystems, causing environmental pollution. The resulting eutrophication can severely impact aquatic life and water quality. As the global reliance on fertilizers continues to rise, it becomes increasingly important to adopt strategies that mitigate their adverse effects on the environment.