Product Code: 61699
The market for urea is expected to grow at a CAGR of greater than 2.5% over the forecast period of 2019-2024. One of the major factors driving the market studied is the increasing demand for fertilizers in the agriculture industry. However, health hazards regarding urea are likely to restrain the market.
- Stringent environment regulations for automotive emissions are also likely to boost the demand for urea during the forecast period.
- Discovery of applications for urea in the preparation of bio-bricks is likely to create opportunities for the market in the coming years.
- Asia-Pacific accounted for the highest market share in 2018 and is likely to dominate the market during the forecast period.
Key Market Trends
Technical Grade is Likely to Witness the Highest Growth Rate
- Technical grade urea is used in many applications, such as glue, medical drugs, dyes, disinfectants, cosmetics, and in the production of yeast.
- With the technological advancements in the automotive industry to meet the emission regulations, the use of urea in adblue to reduce the nitrogen oxide emission from the exhaust is increasing.
- Further, with the growing automotive fleet across the world, the consumption of adblue is projected to increase, which in turn will increase the consumption of technical grade urea.
- Additionally, urea is also used as a base component in many creams and with the growing demand for cosmetics, the demand for technical grade urea is likely to increase.
- Overall, the market for technical grade urea is expected to register the highest growth rate during the forecast period.
Asia-Pacific to Dominate the Market
- In 2018, Asia-Pacific region accounted for the highest market share followed by North America.
- With the increase in population, developments in the agriculture industries are taking place in countries like India and China which results in the increase in consumption of nitrogen fertilizers, thereby driving the market.
- Apart from the agriculture industry, the consumption is also increasing with the advancements in chemical, automobile, and medical industries.
- Additionally, China is one of the largest producers of the urea formaldehyde resin in the world.
- Therefore, the consumption of urea is also expected to increase, due to the increasing demand for urea formaldehyde resin in China.
- Hence, owing to the above mentioned reasosns, Asia-Pacific is likely to dominate the market during the forecast period.
The market for urea is partially consolidated as the market share is divided among a few major companies. Some of the key players of the market includes SABIC, BASF SE, Agrium Inc, and KBR Inc., among others.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Increasing Demand for Fertilizers in the Agriculture Industry
- 4.1.2 Stringent Environment Regulations for Automotive Emissions
- 4.2 Restraints
- 4.2.1 Health Hazards Regarding Urea
- 4.2.2 Other Restraints
- 4.3 Industry Value-Chain Analysis
- 4.4 Porters 5 Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Feedstock Analysis
- 4.6 Technological Snapshot
- 4.6.1 Production Process
- 4.6.2 Patent Analysis
- 4.7 Import-Export Trends
- 4.8 Regulatory Policy Analysis
5 MARKET SEGMENTATION
- 5.1 Grade
- 5.1.1 Fertilizer
- 5.1.2 Feed
- 5.1.3 Technical
- 5.2 End-user Industry
- 5.2.1 Agriculture
- 5.2.2 Chemical
- 5.2.3 Automotive
- 5.2.4 Medical
- 5.2.5 Other End-user Industries
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 18.104.22.168 China
- 22.214.171.124 India
- 126.96.36.199 Japan
- 188.8.131.52 South Korea
- 184.108.40.206 ASEAN Countries
- 220.127.116.11 Rest of Asia-Pacific
- 5.3.2 North America
- 18.104.22.168 United States
- 22.214.171.124 Canada
- 126.96.36.199 Mexico
- 5.3.3 Europe
- 188.8.131.52 Germany
- 184.108.40.206 France
- 220.127.116.11 United Kingdom
- 18.104.22.168 Italy
- 22.214.171.124 Rest of the Europe
- 5.3.4 South America
- 126.96.36.199 Brazil
- 188.8.131.52 Argentina
- 184.108.40.206 Rest of South America
- 5.3.5 Middle East & Africa
- 220.127.116.11 Saudi Arabia
- 18.104.22.168 South Africa
- 22.214.171.124 Rest of Middle East & Africa (MEA)
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 Acron
- 6.4.2 BASF SE
- 6.4.3 BIP (Oldbury) Limited
- 6.4.4 CF Industries Holdings Inc.
- 6.4.5 Chemiplastica Group.
- 6.4.6 China National Petroleum Corporation
- 6.4.7 EuroChem
- 6.4.8 Jiangsu Sanmu Group Corporation
- 6.4.9 Koch Fertilizer LLC
- 6.4.10 Nutrien Ltd
- 6.4.11 OCI Nitrogen
- 6.4.12 Petrobras
- 6.4.13 Qatar Fertiliser Company
- 6.4.14 Saudi Basic Industries Corporation (SABIC)
- 6.4.15 Yara
- 6.4.16 Notore Chemical Industries PLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Discover of application in manufacturing Bio-bricks