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The global urea market was valued at US$ 49.7 Billion in 2021.
We expect the global urea market to exhibit a CAGR of 2.69% during 2022-2027.
The expanding agriculture industry, along with the increasing utilization of urea as a fertilizer and animal
feed additive, is primarily driving the global urea market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations, resulting in the temporary closure of numerous manufacturing units
Based on the grade, the global urea market can be segmented into fertilizers grade, feed grade, and
technical grade. Currently, technical grade holds the majority of the market share.
Based on the application, the global urea market has been categorized into nitrogenous fertilizer,
stabilizing agent, keratolyte, resin, and others. Among these, nitrogenous fertilizer currently exhibits a
clear dominance in the market.
Based on the end-use industry, the global urea market can be segregated into agriculture, chemical,
automotive, medical, and others. Currently, the agriculture sector accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global urea market include Acron, BASF SE, BIP (Oldbury) Limited,
EuroChem, Jiangsu Sanmu Group Co. Ltd., Koch Fertilizer LLC, OCI N.V, Petrobras, Qatar Fertiliser
Company, SABIC, Yara International ASA, etc.
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