The granular urea market refers to the global market for granular urea, which is a widely used fertilizer in agriculture. Granular urea is a white crystalline solid with the chemical formula CO(NH2)2 and is a nitrogen-rich compound. It is produced by reacting ammonia with carbon dioxide, resulting in the formation of ammonium carbamate, which is subsequently dehydrated to form urea.
The global granular urea market is driven by several factors, including increasing demand for food due to population growth, a growing preference for granular urea over other forms of urea due to its higher nitrogen content and ease of application, and government initiatives promoting the use of fertilizers to increase agricultural productivity.
The market is segmented based on application, end-use industry, and geography. By application, it is segmented into fertilizers, resins, animal feed, and others. By end-use industry, it is segmented into agriculture, chemical, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Some of the key players in the 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.
- Coromandel International Ltd
These companies are investing in research and development activities to develop innovative products and expand their product portfolios to cater to the increasing demand for granular urea.
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Overall, the granular urea market is expected to grow at a significant rate over the forecast period due to the increasing demand for food, the need to improve agricultural productivity, and the increasing adoption of granular urea in various industries.
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