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Granular Urea Market is Witnessed to Hit The Value Of USD 64.6 Billion By 2032

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Global Granular Urea Market size was valued at USD 44.8 Billion in 2023 and is expected to reach USD 64.6 Billion by 2032, at a CAGR of 5.1% during the forecast period 2023 – 2032.

Granular Urea Market: Overview

Granular urea is a solid nitrogen fertilizer composed of tiny, homogeneous granules. It remains one of the most utilized fertilizers with nitrogen in agriculture because to its high nitrogen concentration, simplicity of application, and adaptability.

Granular urea is created by the chemical reaction of ammonium and carbon dioxide, which produces urea crystals that are subsequently granular to make the finished product.

Rising emphasis on sustainable agriculture is driving the need for urea as fertilizer with nitrogen owing to its substantial nitrogen amount and efficiency in crop production. Technological developments in urea production methods, which include granulation and coating technologies, are boosting product quality while lowering environmental impact.

Furthermore, there is an increase in organic farming techniques and specialized crop production, creating demand for high-quality granular urea solutions customized for particular crop requirements. Furthermore, legislative activities aiming at decreasing greenhouse gas emissions from agriculture are promoting the application of urea-based fertilizers with higher efficiency and reduced carbon footprint.

Moreover, the increasing globalization of agricultural markets and rising food consumption in developing countries support the global granular urea market’s sustained development and expansion.

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By type, the technical grade segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. The granular urea market is driven by technical grade urea, which is high in purity and suitable for industrial applications that involve adhesives, polymers, and explosives. The need for technical grade urea substitutes conventional agricultural usage, creating new market potential.

By application, the agriculture segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Agriculture fuels the granular urea market owing to its use as a nitrogen fertilizer. Urea offers a concentrated and easily accessible supply of nitrogen, which is critical for boosting plant development, increasing yields from agriculture, and guaranteeing global food security.

The Asia-Pacific region dominates the granular urea market because of its large agricultural sector, expanding population, rising urbanization, and supporting government policies aimed at boosting productivity in agriculture and food security.

The Asia-Pacific region dominates the granular urea market because of its thriving agriculture sector, fast population expansion, and rising urbanization. Favourable government regulations, subsidies, and the abundance of significant manufacturers all help to cement the region’s supremacy.

Furthermore, increasing demand for nitrogen fertilizers to boost productivity in agriculture and ensure food supply enhances Asia-Pacific’s position in the granular urea market.

CMI has comprehensively analyzed the Global Granular Urea marketThe driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict in depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Granular Urea industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

List of the prominent players in the Granular Urea Market:

  • 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
  • Petrobras
  • Indian Farmers Fertiliser Cooperative Limited
  • China National Petroleum Corporation
  • JSC Acron
  • OCP Group
  • The Mosaic Company
  • Sinofert Holdings Limited
  • Agrium Inc.
  • PJSC Uralkali
  • Vietnam National Chemical Group
  • Others

Table of Contents: https://www.custommarketinsights.com/report/granular-urea-market/#table-of-contents

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