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Urea Market worth $93.25 billion by 2029 - Exclusive Report by MarketsandMarkets™


News provided by

MarketsandMarkets

04 Nov, 2024, 11:00 GMT

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DELRAY BEACH, Fla., Nov. 4, 2024 /PRNewswire/ -- The report "Urea Market by Grade (Agricultural, Technical, Feed, Medical), Product Type (Granular, Prilled), End-Use Industry (Agriculture, Chemical, Automotive, Medical), Application, Technology & Region - Global Forecast to 2029", 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.

Browse in-depth TOC on "Urea Market"

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MarketsandMarkets

324 – Tables
68 – Figures
301 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=9041040

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.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=9041040

"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.

Key players

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).

Request Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=9041040

Browse Adjacent Market: Advanced Materials Market Research Reports & Consulting

Related Reports:

Ammonium Sulfate Market - Global Forecast to 2029

Ammonia Market - Global Forecast to 2029

Paints & Coatings Market - Global Forecast to 2029

Metal Organic Frameworks Market - Global Forecast to 2030

About MarketsandMarkets™ 

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

MarketsandMarkets™ 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™ (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. 

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. 

Contact: 
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/urea-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
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