The Global Urea market is forecast to reach USD 49.54 Billion by 2027, according to a new report by Reports and Data. Urea can be defined as a nitrogenous compound comprising of 2 amine groups attached to a carbonyl group with osmotic diuretic activity. In living beings, the compound is formed in the liver through the urea cycle from ammonia, wherein it is the end product of protein metabolism. The majority of the globally produced urea is used as a nitrogen-release fertilizer. It has the optimum nitrogen content among all solid nitrogenous fertilizers that are used commonly. Hence, it has the lowest cost of transportation/unit of nitrogen nutrient.

The report includes the latest coverage of the impact of COVID-19 on the Urea industry. The incidence has affected nearly every aspect of the business domain. This study evaluates the current scenario and predicts future outcomes of the pandemic on the global economy.

Companies considered and profiled in this market study:

BASF SE, Acron, CF Industries Holdings Inc., BIP (Oldbury) Limited, EuroChem, China National Petroleum Corporation, Koch Fertilizer LLC, Jiangsu sanmu group Co,Ltd., OCI Nitrogen and Nutrien Ltd.

The Urea industry has witnessed a stable growth rate in the past decade and is expected to continue on the same path in the forthcoming decades. Therefore, it is crucial to recognize all investment opportunities, potential market threats, restraining factors, challenges, market dynamics, and technological development to intensify footholds in the Urea sector. This report has evaluated all the above mentioned aspects to present a detailed assessment to the reader to assist them in achieving the desired growth in their businesses.

For this report, Reports and Data have segmented into the global Urea market on the basis of building type, material, end-user, and region:

Grade Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Fertilizer
Technical
Feed
Technology Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

SnamProgetti / Saipem technology
Stamicarbon technology
Conventional technologies
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End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Chemical
Agriculture
Medical
Automotive
Others
Market Segment by Regions, regional analysis covers:

North America (United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, and Colombia)

Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Further key findings from the report suggest:

The Urea market held a market share of USD 39.73 Billion in the year 2019 that is forecasted to grow at a rate of 2.8% during the forecast period.
In context to Grade, the Technical segment is projected to witness a considerable growth rate of 4.6% during the forecast period, which is expected to occupy more than 10.0% of the market by 2027. The growth rate witnessed by the Technical segment is attributed to its wide arena of applications like dyes, glue, cosmetics, disinfectants, among others, which is resulting in the growing demand for the technical grade of this organic compound. Furthermore, expanding pharmaceutical sector and the application of this grade of the compound in the pharmaceutical sector in various medications also contributes to its growth rate.
In context to Technology, the SnamProgetti / Saipem technology segment is projected to witness a considerable growth rate of 3.1% during the forecast period, which is expected to hold more than 30.0% of the market by 2027. The growth rate witnessed by the SnamProgetti / Saipem technology segment is attributed to the growing popularity of the stripping process and its increasing application in new urea plants, which contributes to the growth rate witnessed by this segment.
In regards to the region, North America held 20.0% of the market in 2019, with a CAGR of 2.7% during the forecast period. The presence of well-established chemical industry and growing pharmaceutical sector is supporting the expansion of the industry in this region.
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Overall, this report provides a clear view of every vital factor of the market without the need to refer to any other research reports or data sources. Our report will equip you with all the strategically vital facts about the past, present, and future of the market.