According to a new report by Future Market Insights (FMI), the increasing demand in the fertilizer industry is driving the urea strippers market. Applications of urea strippers across diverse industries such as medicine, agriculture, automobile, chemical industry, and others have been creating growth opportunities. Urea strippers also have proven useful in recycling processes due to their basic design and because they allow heat recovery.
Their ability to hold firm in severe conditions reduces their maintenance needs, ensuring better durability. FMI reports that the extensive use of urea strippers in the fertilizer industry and other commercial sectors will help the market grow in value.
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Key Takeaways from the Urea Strippers Market Report
- There has been an increasing demand for urea strippers in the chemical process industry due to their application in various sectors like agriculture and automotive products.
- Fertilizer production will continue to expand in the coming years, consequently demand for urea strippers will keep rising at a steady pace
- Increasing use of urea in end-use industries is expected to help East Asia and South Asia Pacific to continue their dominance in the market
- Urea strippers market growth is locally driven due to maximum consumption being recorded in regions manufacturing them
“Globally, demand is steadily growing for fertilizer projects due to economic growth and population increase in emerging markets. It is expected that the application of urea strippers in these sectors will continue to grow constantly over the period of time. Rising investment in fertilizer due to stabilization of raw material prices is favoring growth of the market. At the same time, companies are looking for options that will help them contribute towards the protection of the environment,” said a lead FMI analyst.
COVID-19 Impact Analysis
The COVID-19 pandemic has disrupted industries all over the world, including the urea strippers market. There has been a decrease in sales due to the imposition of lockdown in various countries. This has led to increasing adoption of digital marketing strategies to widen the market and boost sales. The market is expected to bounce back and soon continue on a steady upward trend.
Who is winning?
Manufacturers have begun creating new technologies and innovations in order to maximize profit. The tier 1 and tier 2 players’ are major shareholders in the urea strippers market. This has increased competition among the players, leading to newer developments in the field. They are now shifting their focus towards partnerships with different businesses in order to increase market awareness. Countries with economies that are dependent on agriculture hold a significant hold in the market.
Some of the key players in the urea strippers market are Toyo Engineering India Pvt. Ltd., ISGEC Heavy Engineering Ltd., Paramount Ltd., Kay Iron Works (Jorian) Private Limited, Larsen & Toubro, Mangiarotti Spa, Saipem S.p.A., Feeco International Inc. and Alfa Laval.
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Valuable Insights into the Urea Strippers Market Report
Future Market Insights has published a study compiling analysis based on the urea strippers market for the years 2015-2019 and presented a detailed assessment for the 2020-2030 period. In order to cover all aspects of the industry, the market is divided into various segments.
Based on the material of construction, the market is divided into duplex steel, stainless steel, zirconium, titanium, 25-Cr-22Ni-2Mo and 316 L-UG. On the basis of capacity, it is segmented into capacity upto 1000 MTPD, 1000-1500 MTPD, 1500-3500 MTPD and above 3500 MTPD. Finally the market is divided based on the geographical location into North America, Europe, East Asia, South Asia Pacific and the rest of the world.
Material of Construction
- Duplex Steel
- Stainless Steel
- 25 Cr-22Ni-2Mo
- 316 L- UG
- Upto 1,000 MTPD
- 1,000-1,500 MTPD
- 1,500-3,500 MTPD
- Above 3,500 MTPD
- North America – US and Canada
- Europe – Russia, Ukraine, and rest of Europe
- East Asia – China, Japan, and rest of East Asia
- South Asia Pacific – India, ASEAN, and rest of South Asia and Pacific
- Rest of World – GCC Countries, Africa and rest of world