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The production of fluid urea-ammonium nitrate (UAN) fertilizer is relatively simple. To create a transparent liquid fertilizer, a hot solution of soluble urea is combined with a heated mixture of ammonium nitrate. The urea solution contributes half of the total N, while the ammonium nitrate liquid or solution contributes the other half. UAN is manufactured in batches or quantities in some centers and continuously in others. During the blending process, no emissions or harmful chemicals are produced.
As UAN is a condensed N solution, its dissolution rate increases with increasing temperature. In geographic areas with freezing winter temperatures, manufacturers dissolve or reduce UAN solutions to avoid the N elements from crystallizing. As a result, based on geographic location, the N content in mostly commercial UAN fertilizers will range from 28%-32%.
The growing trend of adopting a healthy diet is expected to boost global market growth. Rising health consciousness among the worldwide population is expected to increase demand for nutrition protein levels. These fertilizers supply the seedlings with the nutrients and essential minerals they require to yield a high-quality crop. They supply plant nutrients such as urea, ammonia, and nitric acid that are required to produce healthy crops and vegetation. The healthful eating tendency is anticipated to increase demand for this kind of fertilizer application.
According to Business Research Insights, the market for Urea Ammonium Nitrate (UAN) was valued at USD 4.701 million in 2020 and is projected to reach a valuation of USD 6.514 million by 2027 with a CAGR of 4.7%. The market has leading players; CF Industries, Nutrien, Eurochem, Yara International, Acron Group, OCI, Achema, Zaklady Azotowe Pulawy, Grodno Azot, and LSB Industries.
R&D Activities Supported Market Growth During the Pandemic
The COVID-19 pandemic imposed a slew of restrictions on international markets. The pandemic prompted an increase in demand from advancement activities, which aided in market expansion. It aided in seasoning the product's consumption and demand. This helped facilitate the creation of business strategies across all market participants, thereby supporting market growth.
Business Research Insights States Top 5 Urea Ammonium Nitrate (UAN) Companies-
1. Acron Group (Russia)
Acron Group has always been a leading producer of mineral fertilizer on a global scale. With a diverse portfolio that includes complex and nitrogen fertilizers and a widespread distribution link all over China and Russia the company's annual profit in 2020 was around USD 53 million. It has multiple production plants in Russia and yet continues to operate in eight countries all over the world, employing over 11,000 people.
2. Eurochem (Switzerland)
EuroChem is a global leader in the production and distribution of mineral fertilisers. It manufactures and distributes nitrogen, phosphorus, and potash fertilisers throughout Europe, Russia and the CIS, Latin America, and Asia. They have been able to cater to their comprehensive userbase including over 100 countries thanks to an effective worldwide distribution network. Their objective is to keep their competitor price advantage through efficiency improvements and deeper vertical integration, while also aiding and abetting farmers around the world in increasing crop productivity and quality.
3. Achema (Lithuania)
Throughout Lithuania and indeed the Baltic states, Achema is a top manufacturer of nitrogen fertilizers and industrial chemicals. The firm's first construction projects began in 1962, but the firm was officially established on February 9, 1965, after the initial tons of synthesized ammonia were developed in a recently introduced ammonia unit.
4. CF Industries (Chicago)
CF Industries Holdings, Inc., centered through Deerfield, Illinois, a Chicago suburb, is an American producer and distributor of fertilizers such as nitrogen, urea, and ammonium nitrate. This same Central Farmers Fertilizer firm was founded in 1946.
5. OCI (Netherlands)
The company is the global leader in the manufacture and distribution of nitrogen products, offering innovative solutions to industrial and agricultural customers worldwide. The annual production capacity of 16.1 million metric tons of nitrogen fertilizers, methanol, diesel exhaust liquids, melamine, and certain other nitrogen products spans four continents. The company has approximately 3,600 employees and are traded on Euronext Amsterdam underneath the signifier "OCI."
Rising Utilization of Urea Ammonium Nitrate to Pose an Opportunity for Market Growth
As a result of steadily rising utilization of these fertilizers in liquid fertilizers, the worldwide urea ammonium nitrate (UAN) market is predicted to expand. It is a nitrogenous harvest stimulator that is gaining rapid favor within and between necessarily due to its suitability with weedkillers, pesticide residues, and certain other growth regulations. The widespread use and application of such fertilizers has contributed to their popularity. Such innovative product uses and mechanisms are expected to drive market growth.