FMI reports that the extensive use of urea strippers in the fertilizer industry and other commercial sectors will help the market grow in value.
Urea strippers also have been verified useful in recycling methods because of their primary layout and the fact they allow heat recovery. Packages of urea strippers throughout diverse industries such as remedy, agriculture, car, chemical enterprise, and others have been developing growth opportunities.
The global population recorded in 2020 is 7.8 Billion, and that for 2019 became pegged at around 7.6 Bn with a trade of 1.08% as of 2018. In current years, the global population has exhibited a regular increase and is anticipated to grow similarly. Their capability to maintain firm in severe situations reduces their protection wishes, making sure better sturdiness.
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According to a new report by Future Market Insights (FMI), the increasing demand in the fertilizer industry is driving the urea strippers market. Driven by extensive use as a fertilizer and consistently rising non-fertilizer applications, the global urea strippers market is forecast to showcase impressive growth between 2020 and 2030.
The world population is forecast to reach 9.9 billion by 2050. That will be an increase of more than 25% from the current 2020 population of 7.8 Bn. With the increasing population, the demand for food is also increasing. According to a report by the UN Food and Agriculture Organization (FAO), farmers will produce about 70% more food by 2050 to satisfy the food needs of the 9.9 billion predicted population.
As a result of the increase in demand for agricultural products and to ensure a high output with the available resources, the land will become the key concept for producers. This will lead to increased use of urea strippers to enhance crop yield and production. As the agricultural industry serves as the leading end-use industry in the urea strippers market, the increased demand for food will directly thrust the growth rate of the urea stripper market.
Driven by extensive use as a fertilizer and consistently rising non-fertilizer applications, the global urea strippers market is forecast to showcase impressive growth between 2020 and 2030. Future Market Insights (FMI) in a new study has identified the agriculture sector as a lucrative segment in the market.
Competitive Landscape
According to FMI, this is going to remain a key growth factor through the assessment period For instance TOYO India’s ACES21® is advantageous in low investment cost and low energy consumption for urea production. ACES21® has been developed together with P.T. Pupuk Sriwidjaja (PUSRI) of Indonesia as a cost and energy-saving version of the ACES Process.
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Some of the leading players in the urea stripper market include
- Larson & Toubro
- Saipem S.p.A.
- Stamicarbon
- Urea Casale
- TOYO India
- ALFA LAVAL
- NICK
- Thyssenkrupp
- FLOWTRONIX
- Images Heavy Engineering Ltd
- Kay Iron Works (Jorian) Private Limited
- FEECO International, Inc
- Sandvik AB
- MANGIAROTTI spa
- Paramount Limited
Because India and China have strong agricultural sectors, demand witnessed in these countries is expected to be considerably high. However, in the future, this segment is anticipated to exhibit reduced growth owing to the various regulations on artificial fertilizers.
Increasing Population Propelling Market Growth
The global population in 2020 is 7.8 billion, and the population in 2019 is estimated to be 7.6 billion, a 1.08 percent increase over 2018. Global population growth has been constant in recent years and is likely to continue.
By 2050, the world’s population is expected to reach 9.9 billion. This is a more than 25% growth over the current 2020 population of 7.8 billion people. As the world’s population grows, so does the need for food. According to a UN Food and Agriculture Organization (FAO) assessment, farmers would produce almost 70% more food by 2050 to meet the food demands of the 9.9 billion expected population.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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