Forecast: Fertilisers and Nitrogen Compounds Market Size Volume in Spain

The fertilisers and nitrogen compounds market in Spain exhibited a steady growth from 2013 to 2023, with the market volume increasing from 3.2518 billion kilograms in 2013 to 3.9906 billion kilograms in 2023. The year-on-year variations over this period showed a mix of both moderate growth and occasional decline, the latter seen notably in 2016. The Compound Annual Growth Rate (CAGR) for the five-year period leading up to 2023 was 2.21%, indicating overall positive market development.

Key points:

• 2013-2017: The market experienced fluctuations, with a significant dip in 2016 but a robust recovery in 2017.
• 2018-2023: Consistent growth with moderate year-on-year increases, culminating in a 2.21% CAGR over the last five years.

Forecasts predict continued growth in the market volume to 4.4089 billion kilograms by 2028, albeit at a slightly lower five-year CAGR of 1.58%, signaling a steady but slowing market growth. Important trends to watch for include advancements in sustainable fertiliser technologies and regulatory changes affecting agricultural practices.