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Urea Market (4.15% CAGR) 2021-2035: Global Industry Size, Share, Growth, Analysis and Forecast
The Urea market showcased commendable growth as its demand reached 190 million tonnes in 2021 and is expected to grow at a healthy CAGR of 4.15% during the forecast period until 2035.
Urea, also known as carbamide, having the chemical formula CO(NH2)2, is an organic compound containing a carbonyl group attached to two amine groups with osmotic diuretic activity. Urea is practically non-toxic, neither acidic nor alkaline, and highly soluble in water. Industrial production of Urea is done on a large scale, with a worldwide production capacity of approximately 180 million tonnes. Synthetic Ammonia and Carbon Dioxide (CO2) are used in the production of Urea. As a large amount of CO2 is produced while manufacturing Ammonia as a by-product from hydrocarbons (natural gas or petroleum derivatives)
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The urea market is segmented on the basis of grade, end-use, sales channel, and region. On the basis of grades, the market is divided into fertilizer, feed, and technical.
Some of the major players operating in Urea market include are BASF SE, Yara, CF Industries Holdings Inc., China National Petroleum Corporation, EuroChem, Jiangsu sanmu group Co,Ltd., Koch Fertilizer LLC, Nutrien Ltd., OCI Nitrogen, Petrobras, Qatar Fertiliser Company, SABIC, Notore Chemical Industries Plc, and others.