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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Urea (CH4N2O), or carbamide, refers to a highly soluble nitrogenous compound that is naturally found in the human liver. It is commercially synthesized by combining ammonia with carbon dioxide (CO2) under high pressure to obtain solid odorless white pellets or crystals. Urea is primarily used in the production of urethane, which is further polymerized to form polyurethane foams. It is also utilized in the manufacturing of fertilizers, feed supplements, pharmaceuticals, adhesives, laminates, molding compounds, resins, coatings and textile finishes. It finds extensive applications across various industries, including agriculture, chemical, automotive and medical.
Significant growth in the agriculture industry across the globe is one of the key factors driving the market growth. In comparison to traditionally used ammonium nitrate, urea is more cost-effective and offers higher crop yield in lesser time. This has resulted in the widespread adoption of urea as a fertilizer and animal feed additive. Furthermore, the increasing utilization of urea in the automotive industry is also contributing to the market growth. Urea is extensively utilized in this industry to minimize nitrogen oxide emissions from diesel automobiles. Automotive urea, or diesel exhaust fluid (DEF), is injected into the exhaust systems and tanks of trucks, buses, cars and sports utility vehicles (SUVs) to remove nitrogen oxide from the diesel exhaust. The availability of premium-quality technical grade urea, which is extensively utilized in the manufacturing of medical drugs, dyes, disinfectants, cosmetics and yeast, is acting as another major growth-inducing factor. Other factors, including advancements in melting and granulation technologies to enhance energy and cost-effectiveness of urea, along with the growing demand for urea in the chemical industry, are projected to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global urea market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, grade, application, and end-use industry.
Breakup by Grade:
Breakup by Application:
Breakup by End-Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Acron, BASF SE, BIP (Oldbury) Limited, EuroChem, Jiangsu Sanmu Group Co. Ltd., Koch Fertilizer LLC, OCI Nitrogen, Petrobras, Qatar Fertiliser Company, SABIC, Yara International ASA, etc.
Key Questions Answered in This Report:
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