Global Urea Market : Industry Analysis and Forecast 2019-2027 by Grade, End Use Industry and by Region.
Global Urea Market was valued at US$ XX Mn in 2019, and is estimated to reach US$ XX Mn by 2027 growing at a CAGR of XX % during forecast.
Urea finds its major application for fertilizers in agriculture Industry and automotive industry. Attractive returns in urea production have resulted in surge in capacity expansion projects. However, health hazards regarding urea restrains the market growth. Urea is an important raw material for numerous applications chemical industry. Recent developments such as high input coal costs and tax reforms in poor economies of scale is sustaining growth of the global urea market.
Agriculture segment is leading the urea market. Agricultural industry uses urea, as an animal feed additive and fertilizer. Urea has surpassed and nearly replaced ammonium nitrate as a fertilizer. Demand for urea products is particularly increasing in the automotive market with the introduction of stringent nitrogen oxide regulations for diesel engines. Urea for Automotive is special urea for making best quality diesel exhaust fluid. Automotive Grade Urea is unsuitable for bulk transports as contaminations would endanger the Grade and the final quality of the finished solutions.
Fertilizer grade urea is segment with major share in urea market. Urea is an inexpensive form of nitrogen fertilizer with an NPK, urea supplies immediate and powerful applications of nitrogen. Technical grade urea is estimated to gain grow due to its large usage as raw material in numerous application. Technical grade urea is component of animal feed, is non-corroding alternative to rock salt. Urea as a raw material is used for flavor-enhancing additive for cigarettes, ingredient in hair removers, browning agent, in skin cream, moisturizers, hair conditioners, cloud seeding agent, flame-proofing agent, tooth whitening products, dish soap, fermentation of sugars into ethanol and additive for extending the working temperature.
Asia-Pacific region dominated the global urea market followed by North America. To meet the demand growing population, developments in the agriculture industries are taking place which results in the increase in consumption of nitrogen fertilizers, thereby driving the market. Also, consumption is increasing with the advancements in chemical, automobile, and medical industries. With the increasing demand from various end-user industries in the region, the market for urea is projected to grow during the forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding urea market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on a competitive analysis of key players by product, price, financial position, Grade portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in urea market.
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Scope of Global Urea Market
Global Urea Market, By End-user Industry:
Global Urea Market, By Grade:
Global Urea Market, By Region:
• North America
• South America
• Asia Pacific
• Middle East & Africa
Key Player analyzed in the Report:
• Agrium Inc.
• BASF SE
• BIP (Oldbury) Limited
• CF Industries Holdings, Inc.
• Chemiplastica Group
• China National Petroleum Corporation
• Jiangsu Sanmu Group Corporation
• Koch Fertilizer, LLC
• OCI Nitrogen
• Qatar Fertiliser Company
• Saudi Basic Industries Corporation (SABIC)
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Name: Vikas Godage
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