According to the latest report by IMARC Group, titled “Urea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global urea market exhibited stable growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 3% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Urea or CH4N2O is an organic nitrogenous compound characterized by its high solubility and neutral pH. It is naturally found in the human liver and is commercially synthesized by combining ammonia with carbon dioxide (CO2) under high pressure.
The increasing utilization of urea in the agriculture industry represents the primary factor bolstering market growth. Urea is widely used as a fertilizer and animal feed additive in the agricultural sector as it offers higher crop yield in lesser time and is more cost-effective than traditionally utilized ammonium nitrate. In addition, urea is also extensively employed in the automotive industry to minimize nitrogen oxide emissions from diesel automobiles. Moreover, with technological advancements, there has been an advent of fluid bed granulation technology used in the manufacturing of urea to ensure excellent quality and high efficiency of the end product and provides high resistance to crushing and abrasion. On account of these factors, the market is anticipated to witness positive growth in the upcoming years.
Urea Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the urea market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Key Market Segmentation:
The report has segmented the urea market on the basis of grade, application, end-use industry and region.
Breakup by Grade:
Breakup by Application:
Breakup by End-Use Industry:
Breakup by Region:
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Key highlights of the report:
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