The granular urea market has been gaining traction over the recent past, owing to its widespread use as a fertilizer in agriculture. Granular urea is a solid fertilizer that provides nitrogen to crops and helps improve soil quality and fertility. It contains 46% nitrogen that can be quickly absorbed by plant roots to support healthy growth.

Granular Urea Market Size is widely used for various crops including wheat, maize, rice, sugarcane, vegetables and fruits. Its finely granulated form ensures uniform application and minimizes wastage. In addition, granular urea dissolves and releases nitrogen gradually in the soil, thereby maintaining a steady supply of nutrition to plants throughout their growth cycle.

The global granular urea market is estimated to be valued at US$ 42.96 billion in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Granular Urea Companies are Thales Group, Infineon Technologies AG, Ingenico Group, Wirecard, VeriFone, Inc., Giesecke+Devrient GmbH, IDEMIA, Track Innovations LTD., Identiv, Inc., CPI Card Group Inc., Setomatic Systems, Valitor, PAX, PINPAD, Mobeewave, alcineo, and Paycor, Inc. The companies are increasingly adopting strategies such as new product launches, expansions, partnerships and collaborations to gain a competitive edge in the market.

The key opportunities in the granular urea market include growing demand from farmers for high-yield and productivity variants, increasing requirement for eco-friendly fertilizers, and expansion of agricultural activities across emerging regions.

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