Report Code: CMI41261

Published Date: February 2024

Pages: 320+

Category: Specialty Chemicals

Report Snapshot

CAGR: 5.1%
41.5B
2022
44.8B
2023
64.6B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Yara International ASA
  • CF Industries Holdings Inc.
  • Nutrien Ltd.
  • EuroChem Group AG
  • SABIC
  • OCI N.V.
  • Others

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Reports Description

Global Granular Urea Market was valued at USD 44.8 Billion in 2023 and is expected to reach USD 64.6 Billion by 2032, at a CAGR of 5.1% during the forecast period 2023 – 2032.

Granular urea is a solid form of nitrogen fertilizer made up of tiny, spherical pellets or granules. It is created by the chemical reaction between ammonia and carbon dioxide which contains high levels of nitrogen, making it a key supplier of nutrients for plants for agricultural purposes.

Granular Urea Market: Growth Factors

High demand for nitrogen-based fertilizer

Granular urea is a highly concentrated nitrogen fertilizer, making it an effective nitrogen source for crops. This nitrogen is required for plant development, the production of proteins, and total yield increase.

Granular urea has various advantages over other nitrogen fertilizers, including ease of handling, shipping, and application. Its homogeneous granules enable equal distribution and minimize nutrient loss, hence improving crop absorption efficiency.

Moreover, increasing world population and food demand necessitate improved agricultural output, driving farmers to implement modern fertilization procedures such as granular urea treatment.

Furthermore, government assistance, supportive policies about agriculture, and technical improvements are driving the expansion of the granular urea market as farmers attempt to maximize the yields of crops and profitability in the face of escalating agricultural problems.

For instance, according to the International Fertilizer Association, fertilizer usage globally is predicted to recover by 4% in 2023, reaching 192.5 million metric tons. In 2020, a record amount of fertilizer (200.2 MMT) was utilized.

According to IFA, global ammonia output is expected to fall by 1% to 182.2 million metric tons in 2022. Fertilizer consumption decreased between 2020 and 2022 mostly due to lower fertilizer affordability. The nitrogen fertilizer output is estimated at 109 MMT. Global consumption is predicted to expand until 2030, yet at a slower 1.42% from 2021 to 2030.

Huge demand in carbamide from the industrial sector

The industrial sector places a high demand on granular urea, owing to its widespread usage as a raw ingredient in the synthesis of carbamide. Carbamide, often known as urea, is an important component in the production of many industrial goods, such as plastic bottles, resins, adhesives, glues and fertilizers.

Carbamide is used extensively in industries such as chemicals, farming, and manufacturing because of its nitrogen concentration, which is an essential nutrient for plant development and a fundamental element in chemical synthesis processes.

Furthermore, the transition to more sustainable and effective agricultural techniques increases the need for granular urea, which provides benefits such as consistent fertilizer release and decreased nitrogen losses, which make it a popular choice among farmers and industrial users.

For instance, the government has taken steps to reduce the diversion of approximately one million tons of agriculture grade urea to industrial applications each year, resulting in a subsidy diversion of Rs 6,000 crore.

According to a Ministry of chemical substances and Fertilizers official, there is an annual requirement of approximately 1.3 – 1.4 million tons of technical-grade urea for industrial use, compared to domestic generation of around 150,000 tons. The manufacturing sector imports barely 200,000 tons, compared to the needed quantity of more than one million tons.

Granular Urea Market: Restraints

Fluctuating prices of raw material

Granular urea manufacture relies substantially on inputs that include natural gas or other nitrogen supplies and energy for the Haber-Bosch method, which transforms nitrogen into urea. When costs for these raw materials change, it immediately influences manufacturing costs, resulting in uncertainty for producers.

Furthermore, unpredictable raw material costs might have an impact on granular urea’s competitiveness with other nitrogen fertilizers. If the cost of making granular urea rises dramatically in comparison with other nitrogen fertilizers, farmers might turn to cheaper options, reducing the need for granular urea.

Moreover, shifting raw material costs may interfere with supply chains and control of inventory, making it difficult for producers and sellers to plan the manufacturing process and satisfy market demand adequately.

Global Granular Urea Market 2023–2032 (By Type)

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Granular Urea Market: Opportunities

Innovations in manufacturing processes

Manufacturing process innovation is critical to developing the granular urea market because it improves efficiency in production, quality of the product, and sustainability.

Advanced methods that include fluidized bed granulation, prilling towers, and molten granulation allow producers to make granular urea with better physical qualities such as size, shape, and hardness, which meet a wide range of application requirements.

Furthermore, advances in process management systems and automation simplify manufacturing operations, lowering energy usage and decreasing environmental effects.

Moreover, advances in coating and component methods enable the creation of specialty granular urea compositions adapted to specific agricultural requirements, which include increased nutrient efficiency.

In general, ongoing developments in manufacturing techniques enable granular urea manufacturers to fulfil the growing need for superior fertilizers while maximizing energy efficiency and sustainability policies, boosting growth in the global granular urea market.

For instance, the University of Michigan will explore a novel sustainable technique of generating Urea, due to a $1.3 million funding from the W. M. Keck Foundation. This new technology will directly consume carbon dioxide and Nitrate, which is a very widespread wastewater contaminant globally. Indian Scientists have invented a catalyst system for cost-effective hydrogen synthesis with the assistance of electrolysis of urea.

Granular Urea Market: Segmentation Analysis

Global Granular Urea market is segmented by type, application, and region.  Based on type, the market is classified into fertilizer grade, feed grade, and technical grade. Technical grade dominated the market in 2022 with a market share of 55% and is expected to keep its dominance during the forecast period 2024-2032.

Technical grade urea, also known as granular urea, drives the granular urea industry owing to its better quality and suitability for a wide range of applications in the industry.  Granular urea is preferred over pelleted urea in industries that include agriculture, petrochemical manufacture, and chemical products since it has a larger particle size, which allows for greater transportation, storage, and utilization efficiency.

Granular urea is recommended in agriculture due to its consistent particle size distribution, which allows for equal spreading and lowers the danger of nitrogen imbalance. Granular urea is also used in the chemical and petrochemical sectors to make ammonia-formaldehyde resins, glues, and nitrogen-based fertilizers.

Moreover, the technical grade of granular ammonia assures more effective purity levels, which makes it appropriate for use in a variety of industrial operations requiring demanding quality standards. This improved quality increases the need for granular urea in the manufacturing industry, which is driving the market ahead.

Based on application, the market is classified into agriculture, chemical, building and construction, and others. The agriculture segment dominated the market in 2022 with a market share of 45% and is expected to keep its dominance during the forecast period 2024-2032. The agriculture industry promotes the granular urea market due to its use as a nitrogen fertilizer in crop production.

Granular urea has various advantages, such as a high ammonium concentration, consistent particle size, and simplicity of application. Granular urea is preferred by farmers over alternative nitrogen fertilizers because of its low cost, precision in nutrient delivery, and lower danger of nitrogen loss owing to volatilization.

Furthermore, granular urea’s slow-release qualities enable a consistent supply of nitrogen to crops, supporting optimal development and production. As global food consumption rises in tandem with population expansion, the farming industry’s requirement for efficient fertilizers such as granular urea increases.

In addition, advances in agricultural techniques and technology, together with an increasing understanding of organic farming methods, drive a higher need for granular urea in modern farming.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 44.8 Billion
Projected Market Size in 2032 USD 64.6 Billion
Market Size in 2022 USD 41.5 Billion
CAGR Growth Rate 5.1% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Type, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Granular Urea Market: Regional Analysis

By region, Granular Urea market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific dominated the global Granular Urea market in 2022 with a market share of 45% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.

Asia-Pacific’s fast-rising population and growing urbanization stimulate consumer interest in agricultural products, particularly urea, a critical nitrogen fertilizer.

In addition, countries with big agricultural sectors, such as India and China, are important users and manufacturers of granular urea, helping to drive market expansion. Finally, favourable governmental actions and subsidies targeted at increasing agricultural output boost demand for urea in the region.

Moreover, the existence of important urea producers and suppliers in Asia-Pacific, along with aggressive pricing tactics, reinforces the area’s standing in the worldwide market.

Furthermore, continuous technical improvements and innovations in urea manufacturing techniques, as well as growing awareness of the advantages of granular ammonia over other forms, are driving market expansion in the Asia-Pacific region.

Global Granular Urea Market 2023–2032 (By Billion)

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Granular Urea Market: Recent Developments

  • In March 2023, Yara International revealed a $1 billion investment in a new urea factory in Brazil. The factory is anticipated to be operational by 2025, with a production capacity of 3.6 million metric tons per year.
  • In February 2023, Nutrien declared plans to invest USD 1.3 billion in a new urea factory in the United States. The factory is anticipated to be functional by 2024, with a production capacity of 2.8 million metric tons per year.
  • In January 2023, CF Industries Holdings announced plans to invest USD 2.3 billion in a new urea factory in the US. The factory is anticipated to be operating by 2025, with an annual capacity of 2.5 million tons.

List of the prominent players in the Granular Urea Market:

  • Yara International ASA
  • CF Industries Holdings Inc.
  • Nutrien Ltd.
  • EuroChem Group AG
  • SABIC
  • OCI N.V.
  • Koch Fertilizer LLC
  • Borealis AG
  • PT Pupuk Indonesia
  • Qatar Fertiliser Company
  • Petrobras
  • Indian Farmers Fertiliser Cooperative Limited
  • China National Petroleum Corporation
  • JSC Acron
  • OCP Group
  • The Mosaic Company
  • Sinofert Holdings Limited
  • Agrium Inc.
  • PJSC Uralkali
  • Vietnam National Chemical Group
  • Others

These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The Granular Urea Market is segmented as follows:

By Type

  • Fertilizer Grade
  • Feed Grade
  • Technical Grade

By Application

  • Agriculture
  • Chemical
  • Building and Construction
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Granular Urea Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Granular Urea Market: snapshot
  • Chapter 3. Global Granular Urea Market – Industry Analysis
    • 3.1 Granular Urea Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 High demand for nitrogen-based fertilizer
      • 3.2.2 Huge demand for carbamide from the industrial sector
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Type
      • 3.7.2 Market Attractiveness Analysis By Application
  • Chapter 4. Global Granular Urea Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Granular Urea Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Granular Urea Market – Type Analysis
    • 5.1 Global Granular Urea Market Overview: By Type
      • 5.1.1 Global Granular Urea Market Share, By Type, 2022 and – 2033
    • 5.2 Fertilizer Grade
      • 5.2.1 Global Granular Urea Market by Fertilizer Grade, 2024 – 2033 (USD Billion)
    • 5.3 Feed Grade
      • 5.3.1 Global Granular Urea Market by Feed Grade, 2024 – 2033 (USD Billion)
    • 5.4 Technical Grade
      • 5.4.1 Global Granular Urea Market by Technical Grade, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Granular Urea Market – Application Analysis
    • 6.1 Global Granular Urea Market Overview: By Application
      • 6.1.1 Global Granular Urea Market Share, By Application, 2022 and – 2033
    • 6.2 Agriculture
      • 6.2.1 Global Granular Urea Market by Agriculture, 2024 – 2033 (USD Billion)
    • 6.3 Chemical
      • 6.3.1 Global Granular Urea Market by Chemical, 2024 – 2033 (USD Billion)
    • 6.4 Building and Construction
      • 6.4.1 Global Granular Urea Market by Building and Construction, 2024 – 2033 (USD Billion)
    • 6.5 Others
      • 6.5.1 Global Granular Urea Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 7. Granular Urea Market – Regional Analysis
    • 7.1 Global Granular Urea Market Regional Overview
    • 7.2 Global Granular Urea Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Granular Urea Market, 2024 – 2033 (USD Billion)
        • 7.3.1.1 North America Granular Urea Market, by Country, 2024 – 2033 (USD Billion)
    • 7.4 North America Granular Urea Market, by Type, 2024 – 2033
      • 7.4.1 North America Granular Urea Market, by Type, 2024 – 2033 (USD Billion)
    • 7.5 North America Granular Urea Market, by Application, 2024 – 2033
      • 7.5.1 North America Granular Urea Market, by Application, 2024 – 2033 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Granular Urea Market, 2024 – 2033 (USD Billion)
        • 7.6.1.1 Europe Granular Urea Market, by Country, 2024 – 2033 (USD Billion)
    • 7.7 Europe Granular Urea Market, by Type, 2024 – 2033
      • 7.7.1 Europe Granular Urea Market, by Type, 2024 – 2033 (USD Billion)
    • 7.8 Europe Granular Urea Market, by Application, 2024 – 2033
      • 7.8.1 Europe Granular Urea Market, by Application, 2024 – 2033 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Granular Urea Market, 2024 – 2033 (USD Billion)
        • 7.9.1.1 Asia Pacific Granular Urea Market, by Country, 2024 – 2033 (USD Billion)
    • 7.10 Asia Pacific Granular Urea Market, by Type, 2024 – 2033
      • 7.10.1 Asia Pacific Granular Urea Market, by Type, 2024 – 2033 (USD Billion)
    • 7.11 Asia Pacific Granular Urea Market, by Application, 2024 – 2033
      • 7.11.1 Asia Pacific Granular Urea Market, by Application, 2024 – 2033 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Granular Urea Market, 2024 – 2033 (USD Billion)
        • 7.12.1.1 Latin America Granular Urea Market, by Country, 2024 – 2033 (USD Billion)
    • 7.13 Latin America Granular Urea Market, by Type, 2024 – 2033
      • 7.13.1 Latin America Granular Urea Market, by Type, 2024 – 2033 (USD Billion)
    • 7.14 Latin America Granular Urea Market, by Application, 2024 – 2033
      • 7.14.1 Latin America Granular Urea Market, by Application, 2024 – 2033 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Granular Urea Market, 2024 – 2033 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Granular Urea Market, by Country, 2024 – 2033 (USD Billion)
    • 7.16 The Middle-East and Africa Granular Urea Market, by Type, 2024 – 2033
      • 7.16.1 The Middle-East and Africa Granular Urea Market, by Type, 2024 – 2033 (USD Billion)
    • 7.17 The Middle-East and Africa Granular Urea Market, by Application, 2024 – 2033
      • 7.17.1 The Middle-East and Africa Granular Urea Market, by Application, 2024 – 2033 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Yara International ASA
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 CF Industries Holdings Inc.
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Nutrien Ltd.
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 EuroChem Group AG
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 SABIC
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 OCI N.V.
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Koch Fertilizer LLC
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Borealis AG
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 PT Pupuk Indonesia
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Qatar Fertiliser Company
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Petrobras
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 Indian Farmers Fertiliser Cooperative Limited
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
    • 8.13 China National Petroleum Corporation
      • 8.13.1 Overview
      • 8.13.2 Financials
      • 8.13.3 Product Portfolio
      • 8.13.4 Business Strategy
      • 8.13.5 Recent Developments
    • 8.14 JSC Acron
      • 8.14.1 Overview
      • 8.14.2 Financials
      • 8.14.3 Product Portfolio
      • 8.14.4 Business Strategy
      • 8.14.5 Recent Developments
    • 8.15 OCP Group
      • 8.15.1 Overview
      • 8.15.2 Financials
      • 8.15.3 Product Portfolio
      • 8.15.4 Business Strategy
      • 8.15.5 Recent Developments
    • 8.16 The Mosaic Company
      • 8.16.1 Overview
      • 8.16.2 Financials
      • 8.16.3 Product Portfolio
      • 8.16.4 Business Strategy
      • 8.16.5 Recent Developments
    • 8.17 Sinofert Holdings Limited
      • 8.17.1 Overview
      • 8.17.2 Financials
      • 8.17.3 Product Portfolio
      • 8.17.4 Business Strategy
      • 8.17.5 Recent Developments
    • 8.18 Agrium Inc.
      • 8.18.1 Overview
      • 8.18.2 Financials
      • 8.18.3 Product Portfolio
      • 8.18.4 Business Strategy
      • 8.18.5 Recent Developments
    • 8.19 PJSC Uralkali
      • 8.19.1 Overview
      • 8.19.2 Financials
      • 8.19.3 Product Portfolio
      • 8.19.4 Business Strategy
      • 8.19.5 Recent Developments
    • 8.20 Vietnam National Chemical Group
      • 8.20.1 Overview
      • 8.20.2 Financials
      • 8.20.3 Product Portfolio
      • 8.20.4 Business Strategy
      • 8.20.5 Recent Developments
    • 8.21 Others.
      • 8.21.1 Overview
      • 8.21.2 Financials
      • 8.21.3 Product Portfolio
      • 8.21.4 Business Strategy
      • 8.21.5 Recent Developments
List Of Figures

Figures No 1 to 21

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Yara International ASA
  • CF Industries Holdings Inc.
  • Nutrien Ltd.
  • EuroChem Group AG
  • SABIC
  • OCI N.V.
  • Koch Fertilizer LLC
  • Borealis AG
  • PT Pupuk Indonesia
  • Qatar Fertiliser Company
  • Petrobras
  • Indian Farmers Fertiliser Cooperative Limited
  • China National Petroleum Corporation
  • JSC Acron
  • OCP Group
  • The Mosaic Company
  • Sinofert Holdings Limited
  • Agrium Inc.
  • PJSC Uralkali
  • Vietnam National Chemical Group
  • Others

FAQs

The restraints of the Granular Urea market is high costs associated with the fermentation of lactic acids.

The major driver for the Granular Urea market is growing demand for methanol and ethanol and strong demand for Granular Urea from the pharmaceutical industry.

The “Fertilizer Grade” category dominated the market in 2022.

The key players in the market are Yara International ASA, CF Industries Holdings Inc., Nutrien Ltd., EuroChem Group AG, SABIC, OCI N.V., Koch Fertilizer LLC, Borealis AG, PT Pupuk Indonesia, Qatar Fertiliser Company, Petrobras, Indian Farmers Fertiliser Cooperative Limited, China National Petroleum Corporation, JSC Acron, OCP Group, The Mosaic Company, Sinofert Holdings Limited, Agrium Inc., PJSC Uralkali, Vietnam National Chemical Group, Others.

“Asia-Pacific” had the largest share in the Granular Urea Market.

The global market is projected to grow at a CAGR of 5.1% during the forecast period, 2023-2032.

The Granular Urea Market size was valued at USD 44.8 Billion in 2023.

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