Urea Market size is likely to grow exponentially till 2025, rising demand from application in agriculture, medical care and cosmetics

North America led by Mexico, Canada and the U.S. Urea Market size is poised to grow steadily in the projected timeframe owing to its application in agriculture, medical care and cosmetics. The U.S. has the highest health care spending per capita and would positively influence market growth. U.S. dermatology market is poised to surpass USD 20 billion by 2028, thus driving regional product demand.

Europe led by Spain, UK, France and Germany urea market is set to grow steadily within the projected timeframe. Stringent environmental norms regarding vehicle production along with growth of automobile catalytic reactor technologies using carbamide concentration is likely to favor industry growth by 2025.

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Carbamide finds application in agriculture sector as a fertilizer owing to its property to release nitrogen into the soil. It has over 45% nitrogen content that exhibit lowest transportation cost per nitrogen nutrient. Carbamide can also be used in horticulture and irrigated crops including grain and cotton crops owing to its flexibility as it can be spread directly or mixed with water. The product can be spread through irrigation channels and sprays to achieve uniform spread. Decline in arable land for cultivation owing to rapid urbanization and industrialization would propel the demand for fertilizer for higher gains. Global nitrogenous fertilizer market is set to surpass USD 115 billion by 2024 thereby driving urea market demand.

Company Profiles in the Urea Market:

1. Yara
2. Potash Corp
3. Acron
4. Jiangsu Sanmu
5. Agrium
6. BIP
7. Chemiplastica
8. CNPC
9. Euro Chem
10. OCI Nitrogen,
11. BASF SE
12. KBR Inc.
13. Petrobras
14. QAFCO
15. CF Industries
16. SABIC
17. Koch Fertilizer Teijin

Urea market size is anticipated to witness gains owing to its usage in treatment of nail problems and dry or rough skin conditions including psoriasis, eczema, callus and corns. The product is a known keratolytic which increases moisture in the skin and can be used to heal wounds and remove dead tissue while keeping water in the skin, thus stimulating product demand in forecast timeline.
Urea market is poised to witness substantial growth owing to its application in controlling air pollution by the selective catalytic reaction process. Diesel engine running at higher temperatures helps to react nitrogen and oxygen to form nitric oxide, a greenhouse gas. Water solution of the carbamide is injected into hot engine exhaust decomposing into ammonia and carbon dioxide. Ammonia derived from carbamide is reacted with nitic oxide to produce nitrogen which dilute the effect of global warming.

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Blue Tec technology by Daimler AG utilizes this process to equip heavy diesel vehicles including lorries, busses following vehicular emission norms. The vehicles are fitted with urea tanks and engines are equipped for advanced NOX reduction. Strict government norms applicable to vehicular emission combined with rapidly expanding automobile industry is likely to fuel urea market share. Global automotive catalytic reactor market is poised to reach USD 270 billion by 2024 which may boost carbamide market size.

Urea Market, By Grade, 2014-2025 (Tons) (USD Million)

1. Technical
2. Grade B
3. Grade C

Urea Market, By Application, 2014-2025 (Tons) (USD Million)

1. Nitrogenous Fertilizer
2. Stabilizing Agent
3. Keratolyte
4. Resin
5. Others

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