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Add to CartGlobal Granular Urea Market Growth, Share, Size, Trends and Forecast (2024 - 2030)
By Product Type;
Fertilizer Grade, Feed Grade and Technical Grade.By Application;
Agriculture, Chemical, Building & Construction and Others.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).Introduction
Global Granular Urea Market (USD Million), 2020 - 2030
In the year 2023, the Global Granular Urea Market was valued at USD 41,477.70 million. The size of this market is expected to increase to USD 53,851.29 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 3.8%.
Granular urea is a nitrogen-rich fertilizer widely used in agriculture to improve crop yield and quality. It is a vital component in the global agricultural industry, supporting the cultivation of various crops such as cereals, fruits, and vegetables. The market for granular urea is influenced by factors such as population growth, increasing food demand, and the need for sustainable farming practices. As a result, the global granular urea market has witnessed significant growth over the years and is expected to continue expanding in the foreseeable future.
Global granular urea market is characterized by a steady increase in demand, driven by the rising population and the need to enhance agricultural productivity. Additionally, the adoption of advanced farming techniques and the growing trend towards organic farming have contributed to the market's growth. In recent years, there has been a shift towards sustainable agricultural practices, leading to an increased demand for environmentally friendly fertilizers like granular urea. This trend is expected to drive the market further, especially in regions where agriculture plays a crucial role in the economy.
Global Granular Urea Market Report Snapshot
| Parameters | Description |
|---|---|
| Market | Global Granular Urea Market |
| Study Period | 2020 - 2030 |
| Base Year (for Granular Urea Market Size Estimates) | 2023 |
| Drivers |
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| Restraints |
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| Opportunities |
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Segment Analysis
This report extensively covers different segments of Global Granular Urea Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments. In this report, the analysis for every market segment is substantiated with relevant data points and, insights that are generated from analysis of these data points (data trends and patterns). Granular urea is inexpensive and produces a higher crop yield in less time, so it is widely used. Rice, sugar beets, perennial grass, corn for grain and hay, oats, rye, potatoes, sunflower, soybeans, wheat, and other crops can all benefit from granular urea. The global granular urea market is expected to grow significantly over the forecast period as a result of these applications.
Global Granular Urea Segment Analysis
In this report, the Global Granular Urea Market ,Segmented by Product Type, Application and Geography.
Global Granular Urea Market, Segmentation by Product Type
Global Granular Urea Market , Segmented by Product Type into Fertilizer Grade, Feed Grade and Technical Grade.
Fertilizer-grade granular urea is the most commonly used type and is primarily used in agriculture as a nitrogen fertilizer. It is a cost-effective source of nitrogen and is suitable for a wide range of crops. Fertilizer-grade granular urea is typically applied to the soil and provides a slow-release nitrogen source, which helps promote healthy plant growth and increases crop yields. Feed-grade granular urea is used as a protein supplement in animal feed.
It provides a concentrated source of protein and nitrogen, which are essential for animal growth and development. Feed-grade granular urea is often used in ruminant diets to enhance microbial protein synthesis in the rumen, leading to improved feed efficiency and animal performance. Technical-grade granular urea is used in various industrial applications, such as in the production of resins, adhesives, and plastics. It is also used as a nitrogen source in certain chemical processes. Technical grade granular urea is characterized by its high purity and is produced using specialized manufacturing processes to meet the stringent quality requirements of industrial applications.
Global Granular Urea Market, Segmentation by Application
Global Granular Urea Market, Segmented by Application into Agriculture, Chemical, Building & Construction and Others.
The Agriculture sector is the largest application segment for granular urea, accounting for a significant share of the global market. Granular urea is widely used as a nitrogen fertilizer in agriculture to enhance crop yield and quality. It provides a readily available source of nitrogen, which is essential for plant growth and development. The use of granular urea in agriculture helps improve soil fertility and crop productivity, making it a vital input for farmers worldwide. In the chemical industry, granular urea is used as a raw material for the production of various chemicals, including urea-formaldehyde resins, melamine, and adhesives.
Granular urea serves as a source of nitrogen in these chemical processes, where it undergoes chemical reactions to form different compounds. The chemical industry's demand for granular urea is driven by its versatility and cost-effectiveness as a nitrogen source in chemical synthesis.Granular urea finds application in the building and construction industry as a component in certain construction materials, such as urea-formaldehyde foam insulation (UFFI). Urea-formaldehyde resins, derived from granular urea, are used as adhesives in the production of composite wood products, such as plywood and particleboard. The building and construction sector's demand for granular urea is influenced by the construction industry's growth and the need for sustainable building materials.
Global Granular Urea Market, Segmentation by Geography
In this report, the Global Granular Urea Market ,Segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Granular Urea Market Share (%), by Geographical Region, 2023
The North American region holds a significant share in the global granular urea market, driven by the extensive use of fertilizers in agriculture and the presence of key players in the region. The United States is a major consumer and producer of granular urea, with a well-established agricultural sector that relies heavily on nitrogen fertilizers. The region's market growth is also supported by technological advancements in urea production and increasing demand for sustainable agricultural practices.Europe is another prominent market for granular urea, characterized by a strong agricultural sector and strict regulations regarding fertilizer use. Countries like Germany, France, and the United Kingdom are major consumers of granular urea, primarily in the agriculture sector. The region's market growth is driven by the adoption of precision agriculture techniques and the increasing focus on organic farming, which favors the use of environmentally friendly fertilizers like granular urea.
The Asia Pacific region is expected to witness significant growth in the granular urea market, driven by the increasing population, rising food demand, and expanding agricultural sector. Countries like China and India are major consumers of granular urea, owing to their large agricultural populations and the need to improve crop yields. The region's market growth is also supported by government initiatives to promote sustainable agriculture and increase food security.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Granular Urea Market. These factors include; Market Drivers, Restraints and Opportunities.
Drivers, Restraints and Opportunity Analysis
Drivers
- Increasing Population and Food Demand
- Growing Need for Sustainable Agriculture
- Technological Advancements in Agriculture
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Government Initiatives and Subsidies:- Government initiatives and subsidies play a crucial role in driving the global granular urea market by incentivizing the use of fertilizers in agriculture. Many governments around the world offer subsidies to farmers to encourage the adoption of fertilizers, including granular urea, to enhance crop yields and ensure food security. These subsidies help reduce the cost of fertilizers for farmers, making them more affordable and accessible. Governments are implementing various initiatives to promote sustainable agriculture practices, which include the use of environmentally friendly fertilizers like granular urea.
These initiatives aim to reduce the environmental impact of agricultural activities, such as nitrogen runoff, by encouraging the use of fertilizers that are less harmful to the environment. As a result, the global granular urea market is expected to benefit from government support and initiatives aimed at promoting sustainable agriculture.
Restraints
- Volatility in Raw Material Prices
- Environmental Concerns
- Competition from Substitutes
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Regulatory Challenges:-Regulatory challenges pose a significant restraint to the global granular urea market, as the production, distribution, and use of fertilizers are subject to strict regulations and standards in many countries. These regulations often require granular urea manufacturers to comply with specific quality standards and environmental regulations, which can increase production costs and limit market entry for new players, Regulatory restrictions on the use of nitrogen-based fertilizers, including granular urea, to reduce environmental pollution are becoming more stringent.
Regulations limiting nitrogen runoff into water bodies to prevent water pollution can impact the application rates and timing of granular urea use in agriculture. These regulatory challenges can hinder the growth of the global granular urea market by increasing compliance costs and restricting market access.
Opportunities
- Increasing Adoption of Precision Agriculture
- Rising Demand for Organic and Sustainable Agriculture
- Technological Advancements in Urea Production
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Expansion into Emerging Markets:- Expansion into emerging markets presents significant opportunities for the global granular urea market. Countries in regions like Asia Pacific, Latin America, and Africa are experiencing rapid urbanization and population growth, leading to an increased demand for food. This growing population requires higher agricultural productivity, driving the demand for fertilizers like granular urea.
By expanding into these emerging markets, granular urea manufacturers can tap into new customer bases and increase their market share.Eemerging markets often present less saturated markets with fewer regulatory challenges compared to developed regions. This provides an opportunity for granular urea manufacturers to establish a strong presence and build brand loyalty in these markets. Additionally, governments in many emerging economies are implementing policies to support agriculture and enhance food security, which can further boost the demand for granular urea.
Competitive Landscape Analysis
Key players in Global Granular Urea Market include
- Yara International ASA
- CF Industries Holdings Inc.
- Nutrien Ltd.
- EuroChem Group AG
- SABIC
- OCI N.V.
- Koch Fertilizer LLC
- Borealis AG
- PT Pupuk Indonesia
- Qatar Fertiliser Company
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Product Type
- Market Snapshot, By Application
- Market Snapshot, By Region
- Global Granular Urea Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Increasing Population and Food Demand
- Growing Need for Sustainable Agriculture
- Technological Advancements in Agriculture
- Government Initiatives and Subsidies
- Restraints
- Volatility in Raw Material Prices
- Environmental Concerns
- Competition from Substitutes
- Regulatory Challenges
- Opportunities
- Increasing Adoption of Precision Agriculture
- Rising Demand for Organic and Sustainable Agriculture
- Technological Advancements in Urea Production
- Expansion into Emerging Markets
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Granular Urea Market, By Product Type, 2020 - 2030 (USD Million)
- Fertilizer Grade
- Feed Grade
- Technical Grade
- Global Granular Urea Market, By Application, 2020 - 2030 (USD Million)
- Agriculture
- Chemical
- Building & Construction
- Others
- Global Granular Urea Market, By Geography, 2020 - 2030 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Granular Urea Market, By Product Type, 2020 - 2030 (USD Million)
- Competitive Landscape
- Company Profiles
- Yara International ASA
- CF Industries Holdings Inc.
- Nutrien Ltd.
- EuroChem Group AG
- SABIC
- OCI N.V.
- Koch Fertilizer LLC
- Borealis AG
- PT Pupuk Indonesia
- Qatar Fertiliser Company
- Company Profiles
- Analyst Views
- Future Outlook of the Market
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