Prilled Urea Market was valued at USD 19.1 Billion in 2022 and is projected to reach USD 25.8 Billion by 2030, growing at a CAGR of 4.0% from 2024 to 2030.
In this period, the demand for prilled urea was largely influenced by factors such as government subsidies for fertilizers, rising food production needs, and increased crop yields in response to rising population demands. Additionally, countries like China, India, and Russia, which are major producers and consumers of urea, saw growth in fertilizer demand. However, the market also faced challenges, including environmental concerns related to excessive urea usage, regulatory scrutiny on nitrogen emissions, and fluctuating raw material costs such as natural gas.
The years 2023 to 2033 are expected to see a shift in the prilled urea market, with several dynamics impacting future demand. The global population is projected to continue growing, intensifying the demand for food and subsequently increasing the need for fertilizers. However, environmental sustainability is becoming more crucial. Governments and organizations are likely to impose stricter regulations on fertilizer usage, driving the demand for more sustainable solutions and reducing dependency on chemical fertilizers like urea.
Demand from emerging markets, particularly Africa and parts of South Asia, will continue to rise, driven by their need to increase agricultural output. On the other hand, the developed markets may experience slower growth, as farmers explore organic and eco-friendly alternatives to chemical fertilizers. The prilled urea market will likely also see innovations in fertilizers that enhance efficiency and reduce environmental impacts, such as slow-release formulations or urea coated with inhibitors that minimize nitrogen loss.
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The prilled urea market witnessed significant growth from 2018 to 2022, driven primarily by agricultural demand, industrial applications, and global economic recovery after the pandemic disruptions. Urea, a crucial nitrogenous fertilizer, played a pivotal role in feeding the growing global population, especially in developing countries. From 2018 to 2022, global consumption of prilled urea increased due to expanding agricultural activities in emerging markets like India, Brazil, and Southeast Asia. The agricultural sector accounted for more than 70% of the total urea consumption, with fertilizers being the primary end-use segment.
QAFCO
Yara
KOCH
SABIC
OCI
CF Industries
Nutrien
EuroChem
Group DF
Hubei Yihua Chemical Industry
CNPC
Rui Xing Group
Luxi Chemical Group
Huajin Chemical Industries
Hualu-hengsheng
Sichuan Lutianhua
Lanhua Sci-tech
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Prilled Urea Market
Agriculture
Feed Additive
Metal Polishing
Automotive Exhaust Treatment
Other
Based on Types the Market is categorized into Below types that held the largest Prilled Urea market share In 2023.
Feed Grade
Fertilizer Grade
Industrial Grade
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Prilled Urea Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Prilled Urea Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Prilled Urea Market, By Type
6. Global Prilled Urea Market, By Application
7. Global Prilled Urea Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Prilled Urea Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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