Granular urea is poised for significant growth, with the agricultural sector expected to be a key driver due to its high demand for nitrogen-based fertilizers. This growth is further fuelled by the expanding industrial demand. As the agriculture segment dominates the urea market, the need for efficient nutrient supplementation in crops promotes the consumption of granular urea. Simultaneously, the surge in industrial demand contributes to the market’s upward trajectory, reflecting its versatility across various applications. These factors converge to project a promising future for granular urea in both agricultural and industrial sectors, fostering its market expansion.
According to Coherent Market Insights, The global Granular Urea Market was valued at US$ 39.04 billion in 2022 and is expected to register a CAGR of 4.9 %, in terms of revenue over the forecast period (2023-2030).
Leading Companies in the Granular Urea Industry:
1. CF Industries Holdings, Inc.:
Founded in 1946 and headquartered in Illinois, USA. The company operates in multiple countries including the United States, Canada and the United Kingdom. CF Industries specializes in the manufacturing and distribution of nitrogen-based fertilizers, including granular urea. In recent developments, the company has focused on sustainable practices and efficient production methods to meet the increasing global demand for fertilizers while reducing environmental impact.
2. Yara International ASA:
Established in 1905 and has its headquarters in Oslo, Norway. With operations in over 60 countries, including Brazil and Australia, Yara is a global leader in crop nutrition and environmental solutions. The company produces granular urea as part of its fertilizer product range. Yara’s recent market emphasis revolves around digital farming solutions, aiming to optimize crop yields through precise and sustainable fertilization methods.
3. Saudi Arabian Fertilizer Company (SAFCO):
Founded in 1965 and based in Jubail, Saudi Arabia. Operating mainly in Saudi Arabia, the company is a key player in the fertilizer industry. SAFCO specializes in manufacturing a variety of fertilizers, including granular urea. In recent times, the company has invested in technology upgrades to enhance production efficiency and environmental compliance.
4. Nutrien Ltd.:
Founded in 2018 and is headquartered in Saskatchewan, Canada. Operating in multiple countries such as the United States and Australia, Nutrien is a global agricultural solutions provider. The company produces granular urea along with other fertilizers. Nutrient’s recent focus includes initiatives to promote sustainable farming practices and increase nutrient use efficiency.
5. Ostchem Holding:
Established in 2017 and is based in Kyiv, Ukraine. While operating primarily in Ukraine, the company has a significant presence in the nitrogen fertilizer market. Ostchem specializes in manufacturing and distributing fertilizers, including granular urea. The company’s recent developments involve modernizing its production facilities to enhance competitiveness and product quality.
6. EuroChem Group:
Founded in 2001 and headquartered in Zug, Switzerland. The company operates in multiple countries, including Russia and Belgium. EuroChem is a major player in the global fertilizer industry, producing granular urea among other products. The company’s recent market endeavors include expanding its distribution network and introducing innovative fertilization solutions.
*Definition- The granular urea market refers to the global trade and distribution of solid nitrogen-based fertilizer in the form of granules, widely used to enhance crop productivity in agriculture.
