Specialty Urea Market Size Worth $2.79 Billion By 2030: IndustryARC

 Specialty Urea Market size is predicted to reach $2,79 billion by 2030, growing at a CAGR of 3.2% during the forecast period 2023-2030. Specialty urea refers to urea-based fertilizers that are specifically formulated to meet the unique nutrient requirements of certain crops or specific growth stages. These fertilizers are designed to provide targeted nutrient delivery, improved efficiency, and enhanced crop performance. Specialty urea products may contain additives, coatings, or combinations with other nutrients to enhance their effectiveness which is anticipated to propel the Specialty Urea Market during the forecast period, finds IndustryARC in its recent report, titled “Specialty Urea Market Size, Share & Trends Analysis Report By Type, (Control Released Fertilizer (CNF) (Polymer Coated Urea, Sulphur Coated Urea, Sulphur Polymer Coated Urea, Zinc Coated Urea, Others), Slow-Release Fertilizer (SRF), (Urea Formaldehyde, Urea Isobutyraldehyde, Urea Acetaldehyde, Others), By End User Industry (Agriculture, Non-agriculture (Consumers, Golf courses, Professional lawn care and landscape maintenance, Other professional turf, Nurseries and Greenhouses, Landscapers), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030.”

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South America to Register Highest Growth:

During the forecast period of 2023-2030, the South America region is expected to exhibit the highest compound annual growth rate (CAGR) of 5.2% in the global Specialty Urea Market. Agriculture in South American countries has always been represented by small and medium-sized family farms that own their own land and financial resources. However, recent decades have seen a tendency toward farm consolidation and the establishment of substantial corporate farming systems in countries like Argentina and Brazil.

Specialty Urea Market2023-2030: Scope of the Report

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Specialty Urea Market Report – Key Takeaways:

• Control Released Fertilizer (CNF) Segment to Register the Fastest Growth

In the Specialty Urea Market Analysis, the Control Released Fertilizer (CNF) segment is estimated to grow with the highest CAGR of 3% during the forecast period 2023-2030. Control release urea is the largest product type of the global specialty urea market due to the increasing demand for polymer-coated, sulfur-coated, and polymer sulfur coated in agricultural and non-agricultural applications. There is a growing market demand for specialty crops due to changing consumer preferences, increased interest in healthy and sustainable food choices, and the development of niche markets.

• Agriculture Sector is the Fastest Growing Segment in the Market

According to the Specialty Urea Market forecast, increasing demand for high-quality crops, environmental concerns, and need for improved nutrient use efficiency (NUE) is driving the demand for specialty urea in agriculture industry.

Agriculture is the largest end-use industry of the specialty urea market and contributes approximately 55% of the specialty urea consumption, with a volume of 1,178.9 kilotons in 2022. Conventional versions are inefficient and frequently harm the environment. Fortunately, more environmentally friendly products, such as controlled-release fertilizers, are available and becoming increasingly intelligent.

• Growing demand in non-agriculture industries such as consumer lawn, garden, and landscaping

Specialty urea is an effective nitrogen fertilizer for lawns, gardens and Landscaping. Nitrogen is a vital nutrient for plant growth, and urea provides a concentrated and readily available source of nitrogen. It helps promote lush green foliage, healthy root development, and overall plant vigor.

There is a growing interest in sustainable gardening practices, which include the use of environmentally friendly fertilizers. Specialty urea formulations with controlled-release properties and reduced potential for nutrient runoff align with these sustainable gardening principles. The demand for specialty urea in the consumer lawn, garden, and landscaping segment has been influenced by the desire to adopt eco-friendly approaches to plant nutrition. These are factors driving the growth of the specialty urea market.

• The high cost of specialty urea acts as a major market challenge.

Urea prices in the United States are rising as a result of high Ammonia costs and low Phosphate stockpiles. Seasonal hurricanes disrupted production in the United States, further limiting market supply and raising prices. Because natural gas is a primary component of the majority of nitrogen-based fertilizers, rising natural gas prices have a direct impact on fertilizer prices, including urea. Phosphate rock prices are also at historic highs, supporting the market’s overall upward trend.

According to the Government of India, the country aims to eliminate urea imports by 2025 as it expands its domestic production capacity through the commissioning of new plants. India, the leading urea importer, imports roughly 30% of its annual urea consumption of 35 million tons. India now imports urea from several countries, including Oman, Qatar, Saudi Arabia, and the United Arab Emirates. These challenges are set to hinder the Specialty Urea market growth in the future.

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Key Opportunity Analysis:

Crop-specific nutrient management through precision farming.

Precision farming systems often involve the use of data management tools and software platforms to integrate information from various sources. Real-time monitoring of crop performance, weather conditions, and soil moisture levels can inform decision-making and enable adjustments to nutrient management strategies as needed.

Specialty urea formulations can be customized to meet the specific nutrient requirements of different crops and growth stages. For example, slow-release or controlled-release specialty urea can be used to provide a sustained supply of nitrogen over an extended period, matching the crop’s uptake needs. This helps avoid nutrient imbalances, reduce leaching, and improve nutrient use efficiency.

Increased demand for high-yielding crops.

The demand for high-yielding crops often drives the adoption of advanced application techniques, such as fertigation, foliar spraying, and controlled-release systems. Specialty urea is well-suited for these techniques as it can be easily applied through irrigation systems or foliar sprays, allowing for precise and efficient nutrient delivery. Controlled-release urea formulations provide a steady supply of nitrogen over an extended period, supporting sustained crop growth and maximizing yield potential.

According to the Department of Agriculture and Farmers Welfare 2022-23, Yield per Hectare for Foodgrains in 2020-21 is 2394 Kg, and in 2021-22 is 2419 Kg. Thus, the yield is increased from 2020 to 2021 and there is increasing demand for high-yielding crops in the Specialty Urea Market. As a result, rising food demand and a growing population would necessitate much faster growth in the seed sector, particularly to meet the demand for hybrid seeds and to replace old with new high-yielding varieties.

Research for the Development of Specialty Urea Products

Research and technological advancements have significantly contributed to the development of innovative specialty urea products with improved properties in recent years. Farm Hannong collaborated with its parent company LG Chem to develop the photodecomposition fertilizer technology. In December 2022, the company’s photodecomposition fertilizer product won the New Excellent Technology certification from South Korea’s trade ministry.

Photodecomposition is a type of bio-degradation that uses ultraviolet light to decompose the polymer coating of the fertilizer. The decomposition of the coating allows the gradual release of nutrients. Such controlled-release properties improve nutrient efficiency, ensuring that crops receive a steady supply of nutrients over an extended period. This can result in higher crop yields, improved nutrient uptake, and reduced environmental impact.

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The Report also Covers the Following Areas:

• Specialty Urea Market Size and Forecast
• Specialty Urea Market Trends
• Specialty Urea Market Analysis by Deployment Type

Specialty Urea Market 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2023-2030
• Value Chain analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• Specialty Urea Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Specialty Urea Market.

Covid and Ukrainian Crisis Impact:

• The effects of the Covid-19 pandemic, which is ravaging the world, are already sending markets into a tailspin. China, which is the world’s largest producer and consumer of phosphates, sulfur, and sulphuric acid, has had a major impact on the specialized urea business. However, in the future, problems with fertilizer in Brazil and India gained attention. The COVID-19 outbreak has had little impact on the market for specialty fertilizers, largely because of logistical challenges. As of May 2020, most businesses are running smoothly throughout several locations because to government relaxation measures. However, certain South Asian countries still experience delays in the import of fertilizers from other countries as a result of protracted lockdowns. Businesses could lose money if a delivery is delayed further, especially during the planting season when they already have insufficient inventory to last a few months.                                                                                                 
• The invasion of Ukraine by Russia in 2022 caused global disruptions in the markets for crucial food crops, specialty urea, and fertilizers, endangering global food security. In the international agricultural market, Ukraine is a major producer of agricultural goods. The nation is renowned for producing and exporting a wide range of agricultural products, such as wheat, corn, and fertilizers like urea. The supply and distribution of specialized urea could potentially be affected by an invasion by Russia or any other significant disturbance to agricultural productivity and trade in the area. While high worldwide food prices have decreased as the war enters its second year, high local price levels still exist in many low- and middle-income countries. Here, we examine the performance of the worldwide fertilizer markets, including the specialty urea market, as well as the anticipated future impacts on agricultural productivity and food security

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List of Key Market Players in Specialty Urea Market:

The key companies profiled in the Specialty Urea Market Report are listed below:

• Kingenta
• ICL
• Nu-trien
• Hanfeng
• Hafia
• JNC Corporation
• PT Hanampi
• Turf Care Supply LLC
• Lebanon Seaboard
• Compoexpert (TECO)
• Yara International ASA
• CF Industries Holdings, Inc
• OCI N.V
• SABIC
• Koch Fertilizer, LLC

Related Reports:

Sulfur Coated Urea Market  – The Sulfur Coated Urea Market size is projected to grow at a CAGR of 2.4% from 2022 to 2027, A growing population is creating demand for food which is also expected to accelerate the market growth of the sulfur-coated urea.

Water Soluble Fertilizers Market  – The Water-Soluble Fertilizers Market size is projected to grow at a CAGR of 5.7% during the forecast period from 2022 to 2027. With the rise in the agriculture sector, the water-soluble fertilizers market is expected to grow.

Urea Ammonium Sulfate Market – The Urea Ammonium Sulfate Market size is growing at a CAGR of 4.1% during the forecast period. The increase in the growth of the urea ammonium sulfate market is due to an increase in the need for quality agricultural yield. Furthermore, the need for primary nutrients and high-quality nitrogenous fertilizers has also led to a surge in the demand for urea ammonium sulfate market.

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