What is Urea Market Scope?
Urea is an important nitrogenous fertilizer with high 46% Nitrogen content, it is a cattle feed supplement to fulfil protein requirements. It is applying in the soil to prevent the loss of nitrogen through a chemical reaction and it has rapid hydrolysis to ammonium carbonate and Urea plays an important role in the generation of medullary hypertonicity. Urea is the only fertilizer under statutory price control and its import for direct agriculture use is permitted through state trading enterprises namely MMTC.
The Urea market study is being classified by Type (Prilled and Granular Urea, Coated Urea, Crystalline Urea and Pure Urea), by Application (Agriculture, Chemical Industry, laboratory Use and Medical Use) and major geographies with country level break-up.
In This Market Major Players Are Focusing On Adopting Organic And Inorganic Growth Strategies. Which Includes Merger & Acquisition, Product Expansion, and Global Reach Enhancement Analysts at AMA predicts that Vendors from Europe, United States will contribute to the maximum growth of Global Urea market throughout the predicted period.
QAFCO (Qatar), Yara (Norway), KOCH (United States), SABIC (Saudi Arabia), OCI (North Western Europe), CF Industries (United States), Agrium (Canada), EuroChem (Switzerland), Group DF (Eastern Europe) and PotashCorp (Canada) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Urea market by Type, Application and Region.
On the basis of geography, the market of Urea has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In Dec 2018, India Imported 42.03 Lakh Tonne of Urea for Over USD 1 Billion till November from Oman India Fertiliser Company (OMIFCO) and In Jan 2019, Uttar Pradesh Chief Minister Yogi Adityanath Announced To Reduce the Prices of Urea Fertilizer By 11 Percent In The Interest Of the Farmers
Influencing Market Trend
- Increase in Nitrogen Demand in Soybean Crops
Market Drivers
- Increases in both Domestic and Export-Oriented Revenues
Opportunities
- Potential New Business Opportunities
- Strong Us Farmer Demand In the spring
Challenges
- Increasing Buyer Bargaining Power
Key Target Audience
Government Bodies, End Users and Others
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