Granular urea is poised for significant growth, with the agricultural sector expected to be a key driver due to its high demand for nitrogen-based fertilizers. This growth is further fuelled by the expanding industrial demand. As the agriculture segment dominates the urea market, the need for efficient nutrient supplementation in crops promotes the consumption of granular urea. Simultaneously, the surge in industrial demand contributes to the market’s upward trajectory, reflecting its versatility across various applications. These factors converge to project a promising future for granular urea in both agricultural and industrial sectors, fostering its market expansion.
According to Coherent Market Insights, The global Granular Urea Market was valued at US$ 39.04 billion in 2022 and is expected to register a CAGR of 4.9 %, in terms of revenue over the forecast period (2023-2030).
Leading Companies in the Granular Urea Industry:
CF Industries Holdings, Inc.:
Founded in 1946 and headquartered in Illinois, USA. The company operates in multiple countries including the United States, Canada and the United Kingdom. CF Industries specializes in the manufacturing and distribution of nitrogen-based fertilizers, including granular urea. In recent developments, the company has focused on sustainable practices and efficient production methods to meet the increasing global demand for fertilizers while reducing environmental impact.
Yara International ASA:
Established in 1905 and has its headquarters in Oslo, Norway. With operations in over 60 countries, including Brazil and Australia, Yara is a global leader in crop nutrition and environmental solutions. The company produces granular urea as part of its fertilizer product range. Yara’s recent market emphasis revolves around digital farming solutions, aiming to optimize crop yields through precise and sustainable fertilization methods.