Global Urea Market 2015-2019
Urea is an organic compound chemically produced from the waste that the body creates after metabolizing protein. The synthetic version of this chemical compound can be created in the laboratory in the forms of liquid and/or solid, which is often used in fertilizers as a convenient source of nitrogen. Urea is industrially used for the manufacturing of plastics, dish washing machine ingredients, adhesives, hair coloring products, toilet bowl cleaners. In addition, it is used as dermatological products to re-hydrate the skin.
Technavio’s analysts forecast the global urea market to grow at a CAGR of 2.84%, in terms of demand, over the period 2015-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global urea market for the period 2015-2019. It includes the segmentation of the market based on the following criteria: end-use (fertilizers and non-fertilizers), application (fertilizers, industrial, biofuels, and other applications), geography (APAC, Europe, Latin America, Middle East, North America, and ROW).
Technavio's report, Global Urea Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report includes a comprehensive discussion on the market, segmented by geography; it also provides an extensive coverage on various applications and end-uses, considering both the existing market landscape and its growth prospects in the coming years. The report further includes a discussion of the key vendors operating in this market and a comment on the vendors’ product portfolios.Key Regions
Technavio Announces the Publication of its Research Report – Global Urea Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Urea Market: Agrium, China National Petroleum Corp., Qatar Fertilizer and Yara International
Other Prominent Vendors in the market are: Acron, Eurochem, OCI Nitrogen, Petroleo Brasileiro and PotashCorp
Commenting on the report, an analyst from Technavio’s team said: “The global urea market is witnessing an increase in consumption from emerging markets such as Latin America, Europe, and North America as these are agriculture-intensive regions supported by suitable climatic conditions. Countries that have access to relatively more economically priced natural gas, such as the Middle East and African, continue to produce more urea and export it to the countries where it is more costly to buy for production. There will be a reduction in the exports from the US. The Asian markets are dependent upon Gulf exports and this trend is expected to continue throughout the forecast period. India's domestic urea production is expected to fall further behind its consumption and the country will surpass the US in terms of importing urea.”
According to the report, rising concerns over environmental safety are expected to accelerate over the coming years. The notion behind is this is to become less dependent on petrochemical products, which sooner or later will have a negative impact on human health and on biodiversity. Biofuels are produced from crops, and crops need fertilizers. Thus, the production of fertilizers is directly linked to biofuels. Increased use of fertilizers for crops will drive the global urea market.
Further, the report states that growing demand for bio-fertilizers the affecting the market growth.
Agrium, China National Petroleum Corp., Qatar Fertilizer, Yara International, Acron, Eurochem, OCI Nitrogen, Petroleo Brasileiro, PotashCorp
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