Urea Ammonium Nitrate (UAN) Market, Size, Share, Growth, and Global Industry Analysis by Type (UAN 28, UAN 30, and UAN 32), By Application (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, and Others), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2024 To 2032

Updated On: 08 July 2024

UREA AMMONIUM NITRATE (UAN) MARKET REPORT OVERVIEW

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The global urea ammonium nitrate (UAN) market size was USD 4945 million in 2023 and is projected to touch USD 7504.87 million by 2032, at a CAGR of 4.7% during the forecast period. Asia-Pacific holds leading position in urea ammonium nitrate (UAN) market share in 2023.

Urea ammonium nitrate (UAN) is used as fertilizer. It is a combination of urea and ammonium that has low humidity and is used as a liquid fertilizer. It is made from combining nitric acid, urea, and ammonia. It can be applied more uniformly as compared to non-liquid forms of fertilizer. It is widely used as a source for plant nutrition and is compatible with other nutrients and agricultural chemicals. It is injected into the soil beneath the surface, sprayed on the surface, added to irrigated water, or on plant leaves.

The growing demand for such fertilizers is due to the advantages associated with it such as nutrition to plants and adjusting nutrition in the key phases of plant growth. It is more popular due to it being liquid in nature. They are considered as a controlled and slow-release fertilizers that can promote high quality crop yield. Their application of such fertilizer in the agriculture sector is growing due to growth and development of several crop varieties.

COVID-19 Impact: Halt on International Trade to Hinder Market Development

The effects of the COVID-19 pandemic are already being felt on a global level, the global urea ammonium nitrate (UAN) market is noticeably influenced. In 2020, COVID-19 has had a negative impact on many markets. Several countries went into lockdown. With the sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, different types of markets were negatively impacted. China is one of the major countries that produces and exports the fertilizers and lockdown on the exports and imports impacted the international trade of fertilizers. The production of the fertilizers were also affected due to labor shortages and transportation issues. Halt on agriculture industry also affected the demand for such fertilizers.  

LATEST TRENDS

"Trend for Healthy Lifestyle to Drive Market Development"

Growing trend for the adoption of a healthy lifestyle is projected to increase the growth of the global market. Growing health awareness amongst the population globally is anticipated to drive the demamd for dietary protein content. Such fertilzers provide necessary protein and nutrients to the plants so that they can produce a quality crop yield. They provide plants with various nutrients such as ammonium, urea, and nitric acid which is necessary to produce healthy plants and crops. Healthy crops and salad plants can attract consumers to purchase them. Such scenarios generate healthy crops and induce people to eat healthy and adopt a healthy lifestyle. Trend for healthy lifestyle is expected to drive the demand for such fertilizers.

UREA AMMONIUM NITRATE (UAN) MARKET SEGMENTATION

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• By Type

Based on type; the market is divided into UAN 28, UAN 30, and UAN 32.  

UAN 32 is the leading part of the type segment.

• By Application

Based on the application; the market is divided into cereals and grains, oilseeds and pulses, fruits and vegetables, and others.

Cereals and grains is the leading part of the application segment.

DRIVING FACTORS

"Growing Use of UAN in Liquid Fertilizers to Increase Market Growth"

The global urea ammonium nitrate (UAN) market growth is estimated to rise due to increasing use of such fertilzers in liquid fertilizers. It is a nitrogenous crop enhancer that is gaining rapid popularity amongst the manufacturers due to its compatibility with herbicides, pesticides, and other growth growth regualtors. The use of liquid fertilizers have enabled the farmers to reduce the costs by applying several applications. UAN solutions are highly used as a source for nitrogen for plants due to their smooth and uniform applications than non-liquid nitrogenous fertilizers. The properties and benefits of UAn makes them compatible with other agrcultral chemicals and nutrients.

"Increase Demand for Fertilzers to Enlarge Demand  "

The popularity of such fertilizers is due to its wide applications and use of nitrogenous fertilizers globally. This is due to their high composition of nitrogen and urea. The import and export amongst various countries is expected to drive the demand for the market. The use of such fertilizers in producing high-yielding crops is predicted to increase the market demand. Due to awareness regarding the uses of such fertilizers the demand is being increased globally and have led to consumption of such fertilizers. 

RESTRAINING FACTORS

"Environmental Concerns to Hamper Market Growth"

There are a number of factors that can push the growth of the market. Restraining factors such as environmemtal concerns resulted from leaching of groundwater and washing into waterways. Excess of use of fertilizers can also degrade the soil quality and fertililty. Such a factors are expected to reduce the demand for the product in the market.

UREA AMMONIUM NITRATE (UAN) MARKET REGIONAL INSIGHTS

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"North America to Dominate Market Due to Adoption of Crop Nutrition Products"

North America holds the largest part of the global urea ammonium nitrate (UAN) market share due to rising awareness and adoption of crop nutrition products by the farmers in the region. The region is also predicted to have growth due to presence of numerous market players. Which is anticipated to propel positive growth in the region. Risng innovation and advancements in crop production and farming techniques is predicted to increase the demand for such fertilizers. Such factors are expected to drive the market demand and developemt. 

KEY INDUSTRY PLAYERS

"Key Players to Boost Demand Leading to Market Growth"

The report delivers information about the list of market players and their working in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• CF Industries (U.S.)
• Nutrien (Canada)
• EuroChem (Switzerland)
• Yara International (Norway)
• Acron Group (Russia)
• OCI (South Korea)
• Achema (Lithunia)
• Zakłady Azotowe Puławy (Poland)
• Grodno Azot (Belarus)
• LSB Industries (U.S.)

INDUSTRIAL DEVELOPMENT

February 2022: Austarlia’s CBH Group has expaned its fertilizer business by building a new storage facilty for liquid and granual fertilizers. The facility is built with the intention to meet the growing demand in Western Australia.

REPORT COVERAGE

This research profiles a report with widespread studies that take into an explanation of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.