Press release
Market Demand and Growth Outlook of Granular Urea 2021 Till Forecast Period 2028
Granular Urea Market
The global granular urea market is estimated to reach US$ 49.0 billion by the end of 2027, exhibiting a CAGR of 3.3% over the forecast period, owing to increasing demand for granular urea from various end-use industries.
Key companies covered as a part of this study include CF Industries Holdings, Inc., Yara International ASA, Saudi Arabian Fertilizer Company, Nutrien Ltd., Ostchem Holding, EuroChem Group, Bunge Limited, CVR Partners LP, Luxi Chemical Group Co.,Ltd., and Coromandel International Ltd.
Market Dynamics
Key initiatives taken by governments in emerging economies such as India for promotion of granular urea is expected to boost market growth of granular urea over the forecast period. For instance, in 2015, Ministry of Chemicals & Fertilizers of India, made it mandatory for all domestic manufacturers of urea to produce 100% neem coated urea (NCU).
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Asia Pacific is expected to be the fastest growing region in the global granular urea market over the forecast period. This is attributed to increasing demand for food grain, which has led to increasing crop production, increasing awareness among farmers, and need for better land use efficiency are expected to drive market growth of granular urea in the region.
Detailed Segmentation:
Global Granular Urea Market, By Product Type:
Fertilizer Grade
Feed Grade
Technical Grade
Global Granular Urea Market, By Application:
Agriculture
Chemical
Building and Construction
Others
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