Global Urea Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2022-2027 | EMR Inc.

“Global Urea Market Report and Forecast 2022-2027”

The global urea market will be driven by the growing demand for urea in the manufacturing process of melamine resins during the forecast period 2022-2027

Expert Market Research’s new report titled “Global Urea Market Report and Forecast 2022-2027”, gives an in-depth analysis of the global urea market, assessing the market based on its segments such as applications and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2017-2027)

• Historical market volume (2020): 187.8 million metric tonnes
• Forecast CAGR (2022-2027): 2.0%

Urea is a crucial element in the manufacture of melamine. Hence, increasing application of melamine resins in domestic and residential sector propels the demand for urea. Additionally, the booming construction industry is driving the demand for paints, plastics, and paper, which is boosting the urea market. Additionally, increasing application of urea in cosmetics and skincare products is propelling the market growth. Hence, rising demand for personal care products and rising disposable income is expected to drive the market growth in the coming years. Geographically, Asia-Pacific accounts for a major share of the market owing to increasing production of urea in countries like China and India due to increasing expansion of major end-use industries.

Industry definition and major segments

Urea, also known as carbamide, is a colorless crystalline substance used as a fertilizer and dietary supplement. Urea is a nitrogenous end product of metabolic protein breakdown in mammals and some fish. The melting point of urea is 132.7°C and reacts with acids to form salts. Moreover, urea is also used as a raw material in the manufacture of plastics and medicines.

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Based on Application, the market can be segmented into:

• Fertilizer
• Urea formaldehyde (UF) and melamine resins
• Melamine (Cyanurates)
• Animal feed
• Others

Regional urea markets include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market trends

Major trends in the urea market include the booming agricultural industry, which is spearheading the demand for fertilizers to improve crop quality and maximize production. During the forecast period, the growing demand for dietary supplements due to the growing demand for dairy and poultry products is expected to be a driving factor. Additionally, the booming e-commerce industry is expected to drive sales of urea’s downstream products, such as cosmetics and skin care products. Additionally, the market is expected to be aided by the growing demand for urea for air pollution abatement from diesel-powered cars, buses and trucks.

Main market players

Major market players include Yara International ASA, Indian Farmers Fertilizer Cooperative Ltd., PT Pupuk Kaltim, Qatar Fertilizer Company, National Fertilizers Ltd, Engro Corporation Limited, Saudi Arabian Fertilizer Company, CF Industries Holdings, Inc., Nutrien Ltd., among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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Read also : period-2022-2027 2027

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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.

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