The import of nitrogen to India stood at $507.43 thousand in 2023. Based on the forecasted data, the import value is expected to rise to $515.26 thousand in 2024, showing a year-on-year increase of 1.54%. By 2025, it is projected to reach $523.6 thousand, which is a 1.62% rise compared to the previous year. The value is anticipated to continue its increase to $531.78 thousand in 2026 (a 1.56% rise), $539.8 thousand in 2027 (a 1.51% rise), and $547.65 thousand in 2028 (a 1.45% rise). The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is approximately 1.54%.
Future trends to watch for:
- Technological advancements in nitrogen production and utilization.
- Policy changes regarding import tariffs and international trade agreements.
- Fluctuating global prices of nitrogen and related commodities.
- Shifts in agricultural practices and industrial demand within India.
