Urea Market is Currently Valued at over US$ 31 Bn|Euro Chem, BASF SE, China National Petroleum Corporation

Urea Market 2022-2031

New Study Reports "Urea Market 2022 Global Analysis By Key Regions, Production, Consumption, Revenue, Applications, Growth and Forecasts 2031" has been Added on PersistenceMarketResearch.

As per analysis by Persistence Market Research, the global urea market is estimated to expand at a moderate CAGR of 2.3% over the forecast period of 2021-2031.

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The agriculture industry has witnessed significant growth in the last few years, and this growth trend is expected to continue over the coming years as well. Growing demand for food and other agricultural products owing to rise in population and urbanization across the globe is driving demand for fertilizers, which, in turn, is elevating demand for urea in the global market.

Demand for industrial-grade urea is also increasing to reduce the emission of nitrous oxide (NOx) gases from diesel, dual-fuel, and lean-burn natural gas engines. There is a growing demand for nutrient-rich NPK fertilizers, which is also boosting the demand for urea globally.

Key Players:

The report has profiled some of the important players prevalent in the global like - Euro Chem, BASF SE, China National Petroleum Corporation, CF Industries Holdings, Inc., Nutrien Ltd., OST chem, Yara International ASA, Industries Qatar Q.P.S.C, SABIC, PT Pupuk Sriwidjaja Palembang (PUSRI), PT Pupuk Kujang, and PT Pupuk Kalimantan Timur and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Urea Market.

Key Takeaways from Market study

Demand for urea is increasing due to rising use of fertilizers across the world to increase per hectare production capacity of land to cater to rising demand for food and other agricultural-based products.

Countries such as India, Brazil, Indonesia, and Mexico are the fastest-growing markets, expanding at a healthy CAGR owing to the high production of agricultural-based products in these countries.

China is one of the most lucrative markets for manufacturers owing to vast population and manufacturer-friendly governmental regulations.

Various environmental regulations imposed on the use of solid urea due to emission of gaseous ammonia that can be dangerous for the environment as well as human health is a longstanding challenge for manufacturers to overcome.

Demand for industrial-grade urea is also increasing from the automobile sector owing to the use of urea in selective non-catalytic reduction (SNCR) and selective catalytic reduction (SCR) processes, which are used to reduce the emission of harmful gasses from automobile engines.
"Demand for urea is highest from the fertilizer segment across regions, and will remain so in future," says an analyst of Persistence Market Research.

Conclusion

The global urea market is witnessing significant growth due to factors such as growth in population, urbanization, rising demand for food products, and rise in need to increase per hectare yield of land. However, factors such as environmental regulations imposed due to the emission of ammonia gas from ammonium-based fertilizers such as urea are hindering market growth to some extent.

Declining natural gas prices are leading to increasing profitability margins, due to which, more private players are increasing their urea production capacities globally.

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders 
Urea Market Manufacturers 
Urea Market Distributors/Traders/Wholesalers 
Urea Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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Urea Market - Report Highlights

A detailed overview of parent market of Urea Market
Changing Urea Market dynamics in the industry
In-depth segmentation of the Urea Market
Historical, current, and projected Urea Market size regarding volume and value
Recent industry trends and developments in Urea Market
Competitive landscape of the Urea Market
Strategies for key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on Urea Market performance
Must-have information for Urea Market players to sustain and enhance their market footprint                                             

Key Questions Answered in the Urea Market Report

How is the Urea Market expected to grow over the projected period?

What direction is the Urea Market expected to take in terms of volume and value during the forecast period?

What is the impact of macroeconomic factors on the Urea Market in future?

What are the key market drivers in the Urea Market?

What are significant opportunities and improvement areas for Urea Market manufacturers?

What are the key developments and trends taking over the Urea Market?

Which are the emerging countries that are expected to create significant growth opportunities in the Urea Market?  

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