The Latin America urea fertilizers market is estimated to grow at a CAGR of 3.0% from 2014 to 2019. The Latin America market is a leading market for urea consumption. Globally, Latin America is one of the agriculture-intensive regions, and is blessed with vast tracks of tropical as well as temperate zones. Moreover, the remarkable growth in the production of shale oil in North America has offered another source of petroleum products. This has ensured that Latin America will be in supply of petroleum products to manufacture urea from it.
In this report, the Latin America urea fertilizers market has been broadly discussed by its application. Grains & oilseeds, fruits & vegetables, and rest (crops) are the key applications segments of the Latin American urea fertilizers market. The application of urea in grains & oilseeds is estimated to grow at the fastest CAGR from 2014 to 2019.
Yara Fertilizers ASA (Norway) holds the largest share of the Latin American market, in terms of market share. The other firms such as EuroChem (Belgium), Agrium Inc. (Canada), and Potash Corp. SAS Inc. (Canada) are competing for the growing urea market in the region. These companies are developing market strategies such as mergers and acquisitions, joint ventures, new product developments and expansions to increase their market shares in the Latin American urea fertilizers market.
