Elevated Food & Agricultural Demands Push Urea Strippers Market to US$ 9912.32 Mn by 2032 - Future Market Insights, Inc.

Asia Pacific Urea Strippers Market is the dominant region in the world when it comes to both market value and volume of agricultural trade. Dimethyl Carbonate Market is likely to secure a CAGR of 7.2% through 2032

NEWARK, Del., Oct. 19, 2022 /PRNewswire/ -- The global urea strippers market is projected to reach a value of US$ 9912.32 Mn by 2032, with the market growing at a CAGR of 2.4% from 2022 to 2032. In 2022, the target market is expected to reach an estimated US$ 7819.44 Mn propelled by the rising need for fertilizers. The extensive application of urea strippers in non-fertilizers category such as melamine formaldehyde resins, urea-formaldehyde resins, and livestock feed, among others, will further aid the expansion of the urea strippers market during the forecast period.

Population growth has resulted in an increased demand for agricultural products. This along with the need to provide high output with easily available resources will generate growth-inducing opportunities for urea strippers market in the next few years. The growing demand for agricultural items will lead to land becoming a fundamental concept for producers.

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Owing to high population growth and low availability of land, it is imperative to ensure high production with limited resources. Consequently, urea strippers are going to be used more frequently to increase crop yield and productivity. Since agriculture is the most essential end-user for urea strippers, escalating food demand is directly linked to the market's growth rate.

In addition to fertilizer applications, the international market will likely expand because of the use of urea in non-fertilizer capabilities like urea-formaldehyde resins, melamine-formaldehyde resins, and livestock feed. The demand at local level is predicted to supplement the market growth due to its primary consumption in the countries of its production. Again, the advanced output of the market's top manufacturers will presumably bolster the market growth. All of the aforementioned consideration, thus, foster an atmosphere of growth for the urea strippers market during the projected period.

"Population growth has resulted in heightened agricultural and food demands which will likely propel the global growth of the urea strippers market over the forecast period," says an FMI analyst. 

Key Takeaways:

• Stringent regulations coupled with leakage risks impede market growth.
• On the basis of construction material, the duplex steel segment will register a surge in market value.
• By capacity, the up to 1000 MTPD segment will exhibit a high CAGR during 2020-2030.
• Driven by government support, the Asia Pacific region will lead the global market growth.
• The United States's expanding chemicals sector aids the target market growth in North America.
• The Urea strippers market will be offered lucrative opportunities in Europe.

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Competitive Landscape 

Larson & Toubro, Saipem S.p.A., Stamicarbon, Urea Casale, TOYO India, ALFA LAVAL, NICK, Thyssenkrupp, FLOWTRONIX, Images Heavy Engineering Ltd, Kay Iron Works (Jorian) Private Limited, FEECO International, Inc, Sandvik AB, MANGIAROTTI spa, and Paramount Limited among others are some of the major players in the urea strippers market profiled in the full version of the report.

Key market players are interested in forming alliances and collaborations to strengthen their market presence. These businesses are keen on utilizing partnerships to develop innovative products by implementing advanced technology to gain a competitive advantage.

More Insights into Urea Strippers Market Report

In its latest report, FMI offers an unbiased analysis of the global urea strippers market, providing historical data and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of material of construction (duplex steel, stainless steel, zirconium, titanium, 25 Cr-22Ni-2Mo, 316L-UG), capacity (up to 1000 MTPD, 1000-1500 MTPD, 1500-3500 MTPD, above 3500 MTPD), and region.

According to the latest FMI reports, based on segmentation, the duplex steel material segment will lead the market growth in the upcoming years. Owing to its greater economic significance, the segment is likely to register a higher market value. In terms of capacity, the up to 1000 MTPD segment will gain momentum and record high CAGR during the forecast period.

Based on region, the Asia Pacific region will dominate the global urea strippers market space in terms of both volume and value. Government initiatives and projects, the presence of major market players, and elevated investments in different industries such as construction, polymer, and chemicals is fueling the growth of the urea strippers market in this region. Apart from the Asia Pacific, Europe and North America, too will observe notable growth in the urea strippers market during the projected period.

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Key Segments

By Material of Construction:

• Duplex Steel
• Stainless Steel
• Zirconium
• Titanium
• 25 Cr-22Ni-2Mo
• 316 L- UG

By Capacity:

• Upto 1,000 MTPD
• 1,000-1,500 MTPD
• 1,500-3,500 MTPD
• Above 3,500 MTPD

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

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