Press Release

Global Urea Ammonium Nitrate (UAN) Market is Expected to Reach 4,712 Million USD by 2024

Date : Oct 23, 2018

New report published by Global QYResearch which offers insights on the global UAN market. The Global Urea Ammonium Nitrate (UAN) market is valued at USD 3,428 million in 2017 and is expected to reach USD 4,712 million by the end of 2024, growing at a CAGR of 4.65% between 2017 and 2024.

Global Urea Ammonium Nitrate (UAN) Market: Market Driver and Restraint

Urea Ammonium Nitrate (UAN) is a solution of urea and ammonium nitrate in water used as a fertilizer. UAN solution is a high-performance fertilizer, equal to ammonium nitrate or urea regarding influence on agricultural crops yield increase.

Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area. In the future, the market in developed countries will have some growth and the market in developing countries will have a faster growth rate.

Global Urea Ammonium Nitrate (UAN) Market: Forecast by Application

Solutions of UAN are extremely versatile as a source of plant nutrition. Its chemical properties, make UAN compatible with many other nutrients and agricultural chemicals, so its frequently mixed with solutions containing phosphorus, potassium and other essential plant nutrients. Fluid fertilizers can be blended to precisely meet the specific needs of a soil or crop.

Global Urea Ammonium Nitrate (UAN) Market: Forecast by Form

Urea ammonium nitrate mainly (UAN) has three types, which include UAN-28, UAN-30 and UAN-32. And each type has different applications relatively with different properties. With rich nitrogen of urea ammonium nitrate (UAN), the downstream application industries will need more urea ammonium nitrate (UAN) products. So, urea ammonium nitrate (UAN) has a huge market potential in the future.

Global Urea Ammonium Nitrate (UAN) Market: Forecast by Region

The largest producer in the world is CF Industries, Inc. in the United States. The United States has been enjoying the benefits associated with increasing production of unconventional natural gas production from shale-based resources since 2010. This, coupled with the declining price of crude oil, has resulted in dramatic increases in infrastructure investment to take advantage of reduced raw material costs, especially within the nitrogenous fertilizer industry.

UAN have been used almost exclusively as nitrogen fertilizer materials. UAN fertilizer use is largely confined to countries that have highly developed agricultural economies; very little consumption occurs in the developing regions of the world. The United States is by far the largest consumer of nitrogen solutions, accounting for an estimated 63% of the world total in 2017. Western Europe, Central Europe and Eastern Europe account for the major portion of the remaining consumption.

Global Urea Ammonium Nitrate (UAN) Market: Key Players

CF Industries, Nutrien, EuroChem, Yara International, Acron Group, OCI, Achema, Zakłady Azotowe Puławy, Grodno Azot and LSB Industrie, are the key vendors included in this report.

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