Urea Market Key Players, Trends, Sales, Supply, Demand, Analysis & Forecast to 2031

Urea Market 2022 to 2031

The global urea market is currently valued at over US$ 31 Bn. Sales of urea are projected to increase at 2.3% CAGR and be valued at over US$ 40 Bn by 2031. Growing demand for urea from the agriculture industry and government subsidies on certain fertilizers are driving market expansion.

The Urea Market is an important industry globally and has been growing steadily in recent years. Urea is a major source of nitrogen and is used mostly as a fertilizer, although it also has applications in the manufacturing of plastics, adhesives, and other chemicals. Urea production has increased substantially since the early 2000s due to population growth and rising demand for food.

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Key Takeaways - Lime Market in Australia

• 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.

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The Urea Market is vast, with production spread across two main markets: industrial and agricultural. The industrial Urea Market is dominated primarily by North America and Europe, while Asia Pacific represents the largest share of global agricultural Urea consumption. Urea prices tend to be stable due to price controls on producers. Urea demand is expected to remain steady in the near future as whole populations continue to grow and more people require food resources.

In addition to these primary companies, there are also many smaller companies that produce urea for specific regional markets or specific product requirements. These smaller companies often work on contract basis with larger manufacturers to supply products tailored for particular needs in their regions or industries. This market niche can offer some advantages compared to established manufacturers, mainly lower costs associated with producing small batches that are customized according to customer specifications.

Key Players- 

• PT PupukSriwidjaja Palembang (PUSRI)
• PT PupukKujang
• PT Pupuk Kalimantan Timur
• Yara International ASA
• Industries Qatar Q.P.S.C
• SABIC
• EuroChem Group
• Nutrien Ltd
• BASF SE
• CF Industries Holdings, Inc.
• OSTChem and more

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Key Questions Answered in Urea Market Report -

Will India Be a Lucrative Market for Urea Manufacturers?

What is Brazil's Market Outlook for Urea?

How are Stringent Regulations in the U.K. Affecting Urea Sales in the Country?

What is the Expected Growth Rate for the Fertilizer End-use Segment?

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urea market - https://www.prnewswire.com/news-releases/urea-market-is-estimated-to-expand-at-a-moderate-cagr-of-2-3-over-the-forecast-period-of-2021-2031-pmr-815288430.html

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The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing - 'The Way Forward'. 

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