Urea Market Size, Status, Top Players, Trends and Forecast to 2029

mangesh

Jan 30, 2023 • 3 min read

Urea Market size was valued at US$ 41.68 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 2.8% through 2022 to 2029, reaching nearly US$ 52 Bn.

Urea Market Overview:

The Urea market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Urea Market, as well as the causes for variances in the industry’s growth across a variety of sectors.

Market Scope:

Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.

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Segmentation:

Based on the End-User Industry, the market is segmented into Agriculture, Chemical, Automobile, Medical, and Others. Agriculture segment is expected to grow rapidly at a CAGR of % during the forecast period 2022-2029. Urea is a nitrogen fertiliser that may be used in a variety of ways to help plants grow. It's usually combined with soil or applied directly to the soil surface. It can be dissolved in water and applied to soil as a fluid, mixed with irrigation water, or sprayed into plant foliage due to its high solubility. Plant leaves can readily absorb urea in foliar applications.

Key Players:

• Acron
• Agrium Inc.
• BASF SE
• BIP (Oldbury) Limited
• CF Industries Holdings, Inc.
• Chemiplastica Group
• China National Petroleum Corporation
• EuroChem
• Jiangsu Sanmu Group Corporation
• Koch Fertilizer, LLC
• OCI Nitrogen
• Petrobras
• PotashCorp
• Qatar Fertiliser Company
• Saudi Basic Industries Corporation (SABIC)
• Yara

Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeUreag executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and markeUreag executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.

The biggest players in the Urea market are as follows:

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Regional Analysis:

Individual market influencing components and changes in market laws impacUreag current and future market trends are also covered in the Urea market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer fooUreag. The geographical market evaluation is based on the current environment and anticipated trends.

COVID-19 Impact Analysis on Urea Market:

End-user industries where Urea are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Urea manufacturers, harming the Urea market’s growth in 2020. End-user business demand for Urea has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.

Key Questions Answered in the Urea Market Report are:

In 2021, which segment accounted for the most share of the Urea market?
What is the competitive landscape of the Urea market?
What are the key factors influencing Urea market growth?
In the Urea market, which region has the most market share?
What will be the CAGR of the Urea market during the forecast period (2022-2027)?

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