Urea Ammonium Nitrate (UAN) Market size was valued at USD 6.76 Billion in 2024 and is forecasted to grow at a CAGR of 3.5% from 2026 to 2033, reaching USD 9.11 Billion by 2033.
South Korea's Urea Ammonium Nitrate (UAN) market has experienced significant fluctuations, influenced by both domestic policies and international trade dynamics. UAN, a liquid fertilizer composed of urea and ammonium nitrate, is integral to modern agriculture due to its high nitrogen content and versatility in application.
In recent years, South Korea has faced challenges in securing a stable supply of UAN. A notable instance occurred when China, a primary supplier, imposed export restrictions on fertilizers, including UAN, leading to supply shortages in South Korea. This disruption underscored the nation's reliance on imported fertilizers and highlighted the need for diversified sourcing strategies.
Domestically, the demand for UAN is primarily driven by the agricultural sector, with cereals and grains being the predominant consumers. The liquid nature of UAN allows for uniform application, enhancing crop yields and promoting efficient nutrient uptake. Additionally, UAN's compatibility with various pesticides and herbicides makes it a preferred choice among South Korean farmers aiming for integrated pest and nutrient management.
However, the market is not without its challenges. Environmental concerns have been raised regarding the potential for nitrogen runoff from UAN applications, which can lead to water pollution and ecosystem imbalances. As a result, there is a growing emphasis on precision agriculture techniques in South Korea. These methods aim to optimize fertilizer use, ensuring that crops receive adequate nutrition while minimizing environmental impact.
Furthermore, the global push towards sustainable farming practices has influenced South Korean policies. The government is encouraging the adoption of fertilizers that align with environmental standards, prompting UAN producers and suppliers to innovate and offer products that meet these evolving requirements.
In conclusion, South Korea's UAN market is shaped by a complex interplay of international trade relations, domestic agricultural needs, and environmental considerations. While challenges persist, the market continues to adapt, driven by the imperative to balance agricultural productivity with sustainability.
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CF Industries
Nutrien
EuroChem
Yara International
Acron Group
OCI
Achema
Zak?ady Azotowe Pu?awy
Grodno Azot
LSB Industries
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 South Korea Urea Ammonium Nitrate (UAN) Market
Agriculture
Horticulture
Forestry
Landscaping
Greenhouse
Liquid UAN
Granular UAN
Tablet UAN
Farmers
Agrochemical Companies
Retailers
Government and Institutions
Low Nitrogen (28% UAN)
Medium Nitrogen (30% UAN)
High Nitrogen (32% UAN)
Direct Synthesis Method
Ammonia-Based Method
Carbon Dioxide Absorption Method
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Urea Ammonium Nitrate (UAN) 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. South Korea Urea Ammonium Nitrate (UAN) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Urea Ammonium Nitrate (UAN) Market, By Type
6. South Korea Urea Ammonium Nitrate (UAN) Market, By Application
7. South Korea Urea Ammonium Nitrate (UAN) Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Urea Ammonium Nitrate (UAN) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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