Global Urea Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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The Urea Market report has been segmented on the basis of grade, application, and region.
Urea Market: Overview
“The Urea Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Urea – also known as carbamide – is a waste product of various living organisms. It is a natural substance that is white or marginally pigmented pills in physical appearance.
Urea is solid, strong, odorless, soluble in water, and non-toxic in nature.
In 1828, Friedrich Wöhler, who was a German physician and chemist by training, discovered that urea can be created from inorganic materials, and this was an important conceptual innovation in the field of chemistry.
A big share of the total urea produced is used for fertilizer applications.
Urea is broadly utilized in manures as a source of nitrogen and is also an important material for the chemical sector.
Different soil microscopic organisms hold the protein urease, which catalyzes the change of urea to bicarbonate particle (HCO3−) and ammonium particle (NH4+).
Hence, urea manures quickly convert into the ammonium structure in soils. Urea is commonly utilized before the rainy season to limit the loss of volatilization, which is a procedure where nitrogen releases in the forming gas to the environment.
Urea Market: Dynamics
One of the major factors that are projected to drive the global Urea market is the rising demand for Urea in the chemical as well as the agriculture sectors.
In addition, some macroeconomic factors that can grow the Urea market include, increasing economy in emerging nations such as China, India, Brazil, etc., increasing urbanization rate, and changing lifestyles of the consumers across the globe.
Furthermore, another driving factor of the global Urea market can be the rapidly growing food industry, attributable to the rising demand for food and grains in the mentioned sector.
On the other hand, a factor that can hamper the growth of the global Urea market is stringent government regulations and policies due to its toxic nature across the globe.
Urea Market: Segment Analysis
On the basis of technology, the fertilizer grade segment is projected to account for a significant revenue share, with the highest rate of growth during the forecast period.
Among the application, the agriculture segment is expected to grow at a substantial rate of growth among others.
Urea Market: Regional Analysis
Asia Pacific region is estimated to capture the highest share, in terms of the product demand, followed by the North America region and Europe region.
In addition, the Asia Pacific market is the largest consumer and is expected to expand at a significant growth rate over the forecast period, due to the rising growth of the manufacturing sector in the region.
The Middle East & Africa market is anticipated to register a sluggish growth rate owing to the stringent government regulations and policies in countries like Iran, Algeria, Egypt, etc.
However, Qatar's urea market is projected to grow at the highest growth rate among other countries in the Middle East & Africa, attributable to one of the largest urea producing countries.
On the other hand, the North American market accounts for the highest revenue share in the global urea market and is estimated to register the second-highest CAGR, owing to its rising demand from the agriculture sector.
Urea Market Segmentation:
Segmentation by Grade:
- Fertilizers Grade
- Feed Grade
- Technical Grade
Segmentation by Application:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- CTC Global, Inc.
- General Cable
- LUMPI BERNDORF
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