Trends and Forecast for the Global Urea Market Trends, opportunities, and forecast in urea market to 2025 by end use industries (agriculture, chemical, automotive, medical, and others), application (nitrogeneous fertllizer, stabilizing agent, keratolyte, resin, and others), grade (fertilizer grade, feed grade, and technical grade), and region (North America, Europe, Asia Pacific, and Rest of the World)
Lucintel's latest market report analyzed that urea provides attractive opportunities in the agriculture, chemical, automotive, medical, and other industries. The urea market is expected to grow at a CAGR of 2%-3%. In this market, fertilizer grade is the largest segment by grade, whereas agriculture is largest by end use industry.
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Based on grade, the urea market is segmented into fertilizer grade, feed grade, and technical grade. The fertilizer grade segment is accounted for the largest share of the market in 2020 due to its increased usage in agriculture industries.
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The urea market is marked by the presence of several big and small players. Some of the prominent players offering Urea include SABIC, BASF, Nutrien Ltd., KBR inc., and Euro Chem Group.
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