Granular Urea Market To Surpass US$ 49.0 Billion By 2027 | CF Industries Holdings, Inc., Yara International ASA

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.

Granular urea is a solid nitrogen fertiliser with a nitrogen concentration of 46 percent. Carbon dioxide and ammonia are combined to make urea. At 450 K and 200 atm pressure, ammonia and carbon dioxide are cooked together. Ammonium carbamate is formed as a byproduct of the process, which decomposes to create urea. By putting liquid urea through a fluid bed granulation device, urea granules are created.

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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.

Over the forecast period, key steps done by governments in emerging economies such as India to promote granular urea are expected to enhance market growth. For example, in 2015, India's Ministry of Chemicals and Fertilizers mandated that all domestic urea makers produce 100 percent neem-coated urea (NCU). The move was made to promote wheat and paddy crop growth while also reducing urea black marketing and hoarding.

Key Takeaways of the Market:

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. For instance, according to the Organization for Economic Co-operation and Development (OECD) Agriculture Statistics, China’s rice production in 2017 was pegged at 4.842 tons/hectare, which increased to 4.919 tons/hectare in 2018.

Key players operating in the global granular urea market are focusing on new product launches, in order to strengthen their position in the market. For instance, in 2016, Gubretas (a Turkey-based fertilizer company) launched Nitropower33, a nitrogenous fertilizer in granular form containing urea and ammonia nitrogen. The new product can be used as a source of nitrogen for cereals, fruits, vegetables, industrial plants, and legumes.

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