Urea Market Trends, Growth Strategies, and Forecast 2024-2029 | Top 10 Key Players Analysis

The Urea market continues to expand, driven by its critical role in agriculture as a nitrogen fertilizer and its applications in industrial sectors such as resins, adhesives, and plastics. Key players like Yara International, Nutrien Ltd., CF Industries, Koch Fertilizer, and SABIC are investing in production efficiency and sustainable solutions, positioning themselves to meet growing global demand.
The urea market is projected to reach USD 93.25 billion by 2029 from USD 80.25 billion in 2024, at a CAGR of 3.05% during the forecast period. The global market research report is a comprehensive analysis of the current urea market trends [https://www.marketsandmarkets.com/Market-Reports/urea-market-9041040.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=urea], future prospects, and other pivotal factors that drive the market. Urea is an essential chemical for several industries, which are agriculture, pharmaceutical, and industrial applications. Being a fertilizer rich in nitrogen, it enhances agricultural productivity by supplementing crops with necessary nutrients that lead to food security and efficient farming. However, urea also faces challenges that include competition from other fertilizers and hence is concerning people due to the environmental impacts of urea. More recent innovations have led to controlled-release urea fertilizers, which ensure the release of nitrogen progressively and thereby avoid most of the risks associated with nutrient leaching and volatilization. On a positive note, there are opportunities for this market through optimizing the production processes.

"Agriculture is projected to be the fastest-growing end-use industry segment in the urea market"

The agriculture sector is projected to be the fastest-growing end-use industry segment in the urea market due to several key factors, including the increasing global population, which is expected to reach 9.8 billion by 2050 (According to The United Nations), driving higher food demand. This demographic shift creates an urgent requirement for increased agricultural productivity, and thus, the high nitrogen content-about 46% of the composition of urea virtually constitutes a necessary input to increase crop yields as well as ensure food security. Increasing benefits of fertilizers, government subsidies, and improvements in agricultural technology heighten the adoption of urea.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=9041040 [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=9041040&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=urea]

"Stamicarbon segment of the urea market is expected to account for the largest share during the forecast period"

Stamicarbon technologies reign supreme in the urea market because of its high energy efficiency, flexibility of feedstocks, and the quality of high-purity urea. It has more advanced emission control systems to meet the demands of the environment and has a very strong global track record. There are 263 urea melt plants that utilize this technology, of which 2 are compact, 123 CO2 stripping plants, 4 ultra-low energy plants, 19 pool reactor plants, 55 conventional process plants, 33 granulation plants, and 31 pool condenser plants, plus 113 revamps. The plants using this technology face less shutdown and superior product, such as lower biuret levels in the product urea, and thus more suitable for agricultural application.

Urea Companies [https://www.marketsandmarkets.com/ResearchInsight/urea-market.asp?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=urea]

The urea market report comprises key manufacturers such as CF Industries Holdings, Inc. (US), Pupuk Indonesia (Persero) (Indonesia), Yara International ASA (Norway), SABIC (Saudi Arabia), OCI (Netherlands), Nutrien (Canada), EuroChem Group (Switzerland), Qatar Fertiliser Company (Qatar), BASF SE (Germany), CNPC (China), and IFFCO (India).

CF Industries Holdings, Inc. (US) is one of the largest global manufacturers and distributors of agricultural fertilizers, specializing in nitrogen products such as ammonia, urea, and ammonium nitrate. CF Industries was established in 1946 as Central Farmers Fertilizer Company and became CF Industries in 1970. The company operates through the following segments: Ammonia, Granular Urea, UAN, AN, and Others. The company produces a range of nitrogen-based fertilizers, including granular urea, urea ammonium nitrate (UAN), and ammonium nitrate. CF Industries produces nitrogen-based products such as granular urea, urea ammonium nitrate solution (UAN), and ammonium nitrate (AN). It offers other nitrogen products like diesel exhaust fluid (DEF), urea liquor, nitric acid, and aqua ammonia, which are mainly supplied to its industrial customers.

PT Pupuk Indonesia (Persero) is the leading fertilizer manufacturer in Asia. The company manufactures fertilizers across the spectrum, from urea to NPK. Other petrochemical products for the company include ammonia and sulfuric acid. The company has various segments, including the Fertilizer and Ammonia Segment, the Construction Services Segment, and other segments. The capacity of the production currently stands at 22 million tons, out of which 14 million tons comprise fertilizers and 8.6 million tons ammonia and others. The company has a network of 15 urea, 14 ammonia, 17 NPK (Nitrogen, Phosphorus, Potassium), 3 ZA (Zinc Ammonium Phosphate), 2 ZK (Zinc Potassium), and SP (Super Phosphate) plants respectively in Java, Sumatra, and Kalimantan. The operations of fertilizer production are also supported by 533 storage units, that have a total capacity of 2.8 million tons, while the ammonia storage capacity is pegged at 175,000 tons.

Yara International ASA (Norway) is one of the biggest manufacturers and suppliers of crop nutrition and ammonia worldwide and is an industrial solutions company. The operations of the company are categorized into various business lines, such as Europe, Americas, Africa & Asia, Global Plants & Operational Excellence, Clean Ammonia, and Industrial Solutions. The company operates nine fertilizer plants, two high-value product plants, three organic fertilizer plants, a phosphate mine, and a potassium sulfate plant in Europe. Yara has more than 10,800 stores in more than 60 countries, as well as 26 production sites, terminals, and warehouses.

Related Reports

Methanol Market [https://www.marketsandmarkets.com/Market-Reports/methanol-market-425.html]

About MarketsandMarkets Trademark

MarketsandMarkets Trademark has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets Trademark is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore Trademark (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=urea-market-trends-growth-strategies-and-forecast-20242029-top-10-key-players-analysis]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/urea-market-9041040.html

Legal Disclaimer: Information contained on this page is provided by an independent third-party content provider. ABNewswire makes no warranties or responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you are affiliated with this article or have any complaints or copyright issues related to this article and would like it to be removed, please contact retract@swscontact.com



This release was published on openPR.