#Urea #Market #Worth #USD #Billion
Pune, India, Oct. 10, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights The global urea market size was valued at USD 107.28 billion in 2021. The market is projected to grow from USD 129.52 billion in 2022 to USD 150.61 billion by 2029, exhibiting a CAGR of 2.2% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Urea Market, 2022-2029.”
Request a Sample Copy of the Research Report:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/urea-market-106850
List of Key Players Mentioned in the Report:
- SABIC (Saudi Arabia)
- Qatar Fertilizer Company (Qatar)
- EuroChem (Switzerland)
- Yara International ASA (Norway)
- Nutrien AG (Canada)
- OCI N.V. (Netherlands)
- Acron Group (Russia)
- CF Industries Holdings (U.S.)
- HUBEI YIHUA CHEMICAL INDUSTRY CO., LTD. (China)
- China National Petroleum Corporation (CNPC) (China)
- Koch Fertilizer, LLC (U.S.)
- Coromandel International Limited (India)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 2.2% |
| 2029 Value Projection | USD USD 150.61 Billion |
| Base Year | 2021 |
| Urea Market Size in 2021 | USD 107.28 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 170 |
| Segments Covered | By Grade, By Application and Regional |
| Urea Market Growth Drivers | Fertilizer Grade to Lead Market Due to Extensive its Adoption as Key Nitrogen Fertilizer |
| Growing Industrial Application Demand will Fuel Market Growth |
COVID-19 Impacts:
Market Growth was Negatively Affected by Declining Industry Demand from 2020 to 2021
Agriculture and animal feed applications account for the majority of carbamide consumption. The global commerce in carbamide and related goods was severely hampered by the shutdown as the coronavirus spread.
As opposed to the industrial sector, however, the agriculture and animal feed industries showed resilience. Production inconsistencies have a significant impact on potential industrial applications…
Read on GNW: Urea Market to Worth USD 150.61 Billion by 2029
