Urea is a highly effective nitrogen fertilizer utilized in agriculture for improving agricultural yield. It is produced with a combination of carbon dioxide and ammonia. Urea is also available in feed grade and primarily finds applications in various end-use industries such as agriculture, automotive, chemical, and others. In industrial use, it is used for making plastics, glues, and resins. Furthermore, urea is commercially used to produce urea nitrate, a high explosive utilized as a part of some improvised explosive devices.
MARKET SCOPE
The "Global Urea Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the urea market with detailed market segmentation by grade, end-use industry and geography. The report provides key statistics on the market status of the leading urea market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on grade, the global urea market is segmented into Fertilizer, Feed, Technical
- Based on end-use industry, the market is bifurcated into Agriculture, Chemical, Automotive, Medical, Others
MARKET DYNAMICS
Drivers:
- Rising demand from agriculture sector
- Wide application scope of urea
Restraints:
- Strict government regulation on the use of urea
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The urea market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the urea market in these regions.
IMPACT OF COVID-19 ON UREA MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the urea market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from urea market are anticipated to lucrative growth opportunities in the future with the rising demand for urea in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the urea market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
1. Potash Corp
2. Acron
3. Agrium
4. BIP
5. Chemiplastica
6. KBR Inc.
7. CF Industries
8. ISHTAR COMPANY LLC
9. The Chemical Company
10. Indian Farmers Fertiliser Cooperative Limited