Granular urea market
Granular Urea Market, By Application (Agriculture, Chemical, Building and Construction, Others), By Product Type (Fertilizer Grade, Feed Grade, Technical Grade), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)
- May 2023
- CMI3709
- 180 Pages
- Excel & Pdf
- Bulk Chemicals
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).
Granular Urea Market: Growth Drivers
Agriculture segment to dominate the growth and consumption of Urea market owing to the high demand for nitrogen-based fertilizer
The agricultural industry is anticipated to account for the largest portion of the Granular urea market. The agriculture sector has grown significantly in recent years, and it is anticipated that this trend will continue in the years to come. It is mainly because of the rising demand for food and other agricultural products brought on by the expansion of the world's population. Urea is the most efficient nitrogenous fertilizer due to its high nitrogen content. As a result, it is used as a supplement to cow feed to meet some of the needs for protein and for crop applications. In June 2021, The EuroChem Group committed to invest US$ 1.06 billion in the construction of a new ammonia and urea factory in northwest Russia. Additionally, the facility is anticipated to produce 1.4 million tons of urea annually, with commercial production beginning in 2024.
Figure 1. Global Granular Urea Market Share (%), By Region, 2022
Growing Industrial Demand Drive the Market Growth:
Recently there has been huge demand in carbamide from the industrial sector owing to its wide range of industrial application. It has the ability to trap the different organic compound due to its property forming interpenetrating helices by forming hydrogen bond. This property make suitable product for the separation of the mixture and to be used in the production aviation fuels and lubricating oil. It also used in separation of paraffin. Technical grade is used as raw material in the manufacturing of urea formaldehyde resins, Adhesive such as urea melamine formaldehyde made in marine plywood and stabilizers in nitrocellulose explosives. In June 2021, the commercial manufacture of nano urea liquid was established by the Indian Farmers Fertilizer Cooperative Ltd (IFFCO). The company's unique technology, created at its Gujarat Nano Biotechnology Research Center, is used in production.
Granular Urea Market: Restraints
Fluctuating prices of Raw materials:
Fluctuating prices of raw material is a key factor restraining the growth of this granular urea market. High cost of granular urea raw material over its conventional counterpart is also hampering the market, in addition availability of substitutes is adversely affects the market.
Figure 2. Global Granular Urea Market, Revenue Share (%), By Application, 2022
Global Granular Urea Market- Impact of Coronavirus (Covid-19) Pandemic
Declined Demand from Industries Negatively Affected Market Growth during 2020-2021
Carbamide is largely consumed in agriculture and animal feed applications. During the progression of the coronavirus pandemic, the lockdown critically challenged the trade of carbamide & related products across the world. However, the agriculture industry and animal feed sector showcased resilience as compared to the industrial sector. Potential industrial applications, such as chemical manufacturing, fuel additives, and resins, are strongly impacted due to irregularities in production. Shortage in raw materials and working people further challenged the urea market growth. However, in 2021, major consumers, such as the U.S., China, India, and others, slowly revamped industrial operations. Thus, the demand for technical-grade products slowly recovered. Owing to the further rise in energy prices, manufacturing costs increased in the last quarter of 2021. The prices went up sharply in the first quarter of 2022. Therefore, despite the slow recovery in consumed volume, the overall revenues generated were strongly increased.
Granular Urea Market: Market Segmentation
Among regions, Asia Pacific accounted for the largest market share in 2022, owing to increasing demand for fertilizers from agriculture sector in the region.
Granular Urea Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2022: | US$ 39.04 Bn |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR: | 4.9% | 2030 Value Projection: | US$ 57.07 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
CF Industries Holdings, Inc., Yara International ASA, Saudi Arabian Fertilizer Company, Nutrien Ltd., Ostchem Holding, EuroChem Group, Bunge Limited, CVR Partners LP, Luxi Chemical Group Co.,Ltd., and Coromandel International Ltd. |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Granular Urea Market: By Application
Among application, in 2022, agriculture segment accounted for the largest market share of 87%, in terms of revenue in the global granular urea market. This is attributed to increasing crop production across the globe, which is expected to drive demand for fertilizers, and this is further expected to drive demand for granular urea over the forecast period.
Granular Urea Market: Recent Developments
November 2022: OCI NV invested US$ 5 billion to expand its East Texas complex. The company plans to add a plant that uses ammonia and carbon dioxide to make 2,200 metric tons of urea daily.
June 2022: Pupuk Kaltim announced its plans to expand its operations by building a factory in West Papua’s Bintuni Bay in Indonesia that will produce urea, increasing its overall production capacity.
March 2022: Egypt-based Misr Fertilizers Production Company (MOPCO) announced plans to improve its overall annual carbamide production capacity to 70 kilo tons. The company also announced investment to build a new melamine plant. With this investment, MOPCO aimed to strengthen its position in Egypt and overseas markets.
November 2021: SABIC launched a full-fledged company with agility and flexibility to respond to the challenges of the agri-nutrients industry and the needs of all stakeholders. The new company adopts a distinct operating model that focuses on a number of pillars to ensure sustainable growth and offer more differentiated agri-nutrients solutions.
Granular Urea Market: Key Companies
Major players operating in the global granular urea market include CF Industries Holdings, Inc., Yara International ASA, Saudi Arabian Fertilizer Company, Nutrien Ltd., Ostchem Holding, EuroChem Group, Bunge Limited, CVR Partners LP, Luxi Chemical Group Co.,Ltd., and Coromandel International Ltd.
*Definition: Urea is produced from ammonia and carbon dioxide and is an important chemical in agriculture and chemical industries. Urea is the most commonly used nitrogen fertilizer and cheapest form of nitrogen fertilizer. Urea is white crystalline solid organic compound and is manufactured in granular and prilled form. Granules of urea are manufactured by passing liquid urea through a fluid bed granulation system, which creates a hard and evenly sized granule.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Supply Side Drivers
- Demand Side Drivers
- Economic Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Mergers and Acquisitions
- New Product Approvals/Launch
- Promotion and Marketing Initiatives
- Drivers
- Cost Tier Down Analysis
- Market Dynamics
- Global Granular Urea Market, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 - 2030
- Segment Trends
- Fertilizer Grade
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Billion & Kilo Tons)
- Feed Grade
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Billion & Kilo Tons)
- Technical Grade
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Billion & Kilo Tons)
- Introduction
- Global Granular Urea Market, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2017 - 2030
- Segment Trends
- Agriculture
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Billion & Kilo Tons)
- Chemical
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Billion & Kilo Tons)
- Building & Construction
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Billion & Kilo Tons)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 - 2030, (US$ Billion & Kilo Tons)
- Introduction
- Global Granular Urea Market, By Region, 2017 - 2030 (US$ Billion & Kilo Tons)
- Introduction
- Market Share Analysis, By Region, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Region, 2017 - 2030
- North America
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017 - 2030
- U.S.
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Canada
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- U.S.
- Europe
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017 - 2030
- U.K.
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Germany
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- France
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Italy
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Spain
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Russia
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Rest of Europe
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- U.K.
- Asia Pacific
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017 - 2030
- China
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- India
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Japan
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- ASEAN
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Australia
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- South Korea
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Rest of Asia Pacific
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- China
- Latin America
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017 - 2030
- Brazil
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Mexico
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Argentina
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Rest of Latin America
-
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
-
- Brazil
- Middle East
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017 - 2030
- GCC
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Israel
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Rest of Middle East
- Country Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- GCC
- Africa
- Market Share Analysis, By Sub-region, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Sub-region, 2017 - 2030
- North Africa
- Sub-region Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- Central Africa
- Sub-region Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- South Africa
- Sub-region Trends
- Market Size and Forecast, By Product Type, 2017 - 2030 (US$ Billion & Kilo Tons)
- Market Size and Forecast, By Application, 2017 - 2030 (US$ Billion & Kilo Tons)
- North Africa
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3x3 Matrix)
- Company Profiles
- CF Industries Holdings, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Yara International ASA
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Saudi Arabian Fertilizer Company
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Nutrien Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Ostchem Holding
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- EuroChem Group
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Bunge Limited
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- CVR Partners LP
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Luxi Chemical Group Co., Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- Coromandel International Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Future Plans
- CF Industries Holdings, Inc.
- Section
- References
- Research Methodology
- About us and Sales Contact
*Browse 70 market data tables* and 55 figures* on 'Granular Urea Market' - Global forecast to 2030
Detailed Segmentation:
- Global Granular Urea Market, By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- Global Granular Urea Market, By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Global Granular Urea Market, By Region:
- North America
- U.S.
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Canada
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Europe
- U.K.
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Germany
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- France
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Italy
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Spain
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Russia
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Rest of Europe
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Asia Pacific
- China
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- India
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Japan
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- ASEAN
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Australia
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- South Korea
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Rest of Asia Pacific
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Latin America
- Brazil
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Mexico
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Rest of Latin America
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Middle East
- GCC
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Israel
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Rest of Middle East
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Africa
- North Africa
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- Central Africa
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others
- South Africa
- By Product Type:
- Fertilizer Grade
- Feed Grade
- Technical Grade
- By Application:
- Agriculture
- Chemical
- Building and Construction
- Others