The Global Urea market is forecast to reach USD 49.54 Billion by 2027, according to a new report by Reports and Data. Urea can be defined as a nitrogenous compound comprising of 2 amine groups attached to a carbonyl group with osmotic diuretic activity. In living beings, the compound is formed in the liver through the urea cycle from ammonia, wherein it is the end product of protein metabolism. The majority of the globally produced urea is used as a nitrogen-release fertilizer. It has the optimum nitrogen content among all solid nitrogenous fertilizers that are used commonly. Hence, it has the lowest cost of transportation/unit of nitrogen nutrient. The organic compound has a wide arena of applications. It is a raw fabric for the production of two major types of materials: urea-melamine-formaldehyde and urea-formaldehyde resins, which is used in marine plywood. It is also applied in SCR and SNCR reactions to lessen the NOx pollution in exhaust gases due to the combustion of Diesel, and lean-burn natural gas engines and dual fuel. It can also be used to make urea nitrate that is a high explosive used industrially and applied as a part of some improvised explosive devices. It compound is stabilizer in nitrocellulose explosives. Thus, a wide arena of applications is one of the mentionable factor supporting the expansion of the market.
Key participants include BASF SE, Acron, CF Industries Holdings Inc., BIP (Oldbury) Limited, EuroChem, China National Petroleum Corporation, Koch Fertilizer LLC, Jiangsu sanmu group Co,Ltd., OCI Nitrogen and Nutrien Ltd.
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The comprehensive analysis of the Urea market assists businesses in gaining a competitive advantage and helps them reach their business goals and objectives. The global Urea market research report is formulated with the descriptive profiles of the leading companies of the market along with their pricing analysis, gross revenue, financial standing, sales network and distribution channel, profit margins, and market position. This offers the readers a complete understanding of the competitive landscape of the Urea industry.
The Urea research report draws focus on the strengths and weaknesses of the key players of the market through a comprehensive SWOT analysis and Porter’s Five Forces analysis to project the growth rate.
The global Urea market report further segments the market based on product types offered by the market, applications, and key geographies of the market. The research study assesses the market in terms of market size, volume, revenue, and share.
Furthermore, the report also offers an accurate assessment of the market share and customer base of the Urea market in the major geographical regions of the world. The report also analyzes the growth of the individual segments of the Urea industry throughout the forecast period.
Grade Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
Technology Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- SnamProgetti / Saipem technology
- Stamicarbon technology
- Conventional technologies
End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
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Urea market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Further key findings from the report suggest
- The Urea market held a market share of USD 39.73 Billion in the year 2019 that is forecasted to grow at a rate of 2.8% during the forecast period.
- In context to Grade, the Technical segment is projected to witness a considerable growth rate of 4.6% during the forecast period, which is expected to occupy more than 10.0% of the market by 2027. The growth rate witnessed by the Technical segment is attributed to its wide arena of applications like dyes, glue, cosmetics, disinfectants, among others, which is resulting in the growing demand for the technical grade of this organic compound. Furthermore, expanding pharmaceutical sector and the application of this grade of the compound in the pharmaceutical sector in various medications also contributes to its growth rate.
- In context to Technology, the SnamProgetti / Saipem technology segment is projected to witness a considerable growth rate of 3.1% during the forecast period, which is expected to hold more than 30.0% of the market by 2027. The growth rate witnessed by the SnamProgetti / Saipem technology segment is attributed to the growing popularity of the stripping process and its increasing application in new urea plants, which contributes to the growth rate witnessed by this segment.
- In regards to End-user, the Agriculture segment held a considerable share of the market of more than 80.0% in 2019, with a CAGR of 2.9% during the forecast period. The market share held by the Agriculture segment is attributed to the growing demand for fertilizers and the wide application of the organic compound in urea fertilizer that is an effective source of nitrogen, which is used to provide the plants with nitrogen and promote the growth of the plant. It also acts as an effective support to the photosynthesis process of plants…Continued
In conclusion, the report offers an extensive panoramic view of the Urea industry, backed by key statistical data and figures garnered from authentic sources and thorough primary and secondary research. The report offers a thorough examination of the size, shape, and volume of the market to offer an accurate forecast estimation of the Urea industry till 2027. The report also strives to offer strategic recommendations to the new players entering the Urea industry and guide them for overcoming entry-level barriers. It also offers recommendations to the established companies to fortify their presence in the Urea market and capitalize on the emerging opportunities in the industry.
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