Urea Procurement Research – Market Trends and Spend Analysis by SpendEdge

LONDON–(BUSINESS WIRE)–#chemicalsindustry—SpendEdge,
a global procurement intelligence advisory firm, has announced the
release of their ‘Urea
Market Procurement Research Report.’ The insights and data in
this report provide a strategic analysis of the supply markets, factors
influencing purchasing decisions, procurement best practices, pricing
models, supplier landscape, and an analysis of the supplier capability
matrix for the chemicals
industry. This report breaks down the data and analysis
behind the procurement of urea and acts as an all-inclusive guide for
making smart purchasing decisions.

“APAC and Africa are the regions which will experience the highest
growth in the demand for urea during the forecast period,” says
SpendEdge procurement analyst A Kowshik. “Also, the growing demand from
end-user applications such as personal care will influence the growth of
the market,” added A Kowshik.

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Procurement analysts at SpendEdge highlight the following top three
market trends that are contributing to the growth of the Global Urea
Market:

• Decreasing global trade of urea due to growing domestic production
• Expected decline in urea prices due to oversupply and competitive
  feedstock
• Growing focus on R&D activities by suppliers

This report is available at USD 1000 discount for a limited time only:
View
the report snapshot before purchasing

Decreasing global trade of urea due to growing domestic production

The global trade for urea is witnessing a consistent decline due to the
growing domestic production. Therefore, the export of urea will also
witness a slowdown during the forecast period. As a result, the buyers
can obtain cost-effective urea due to the increasing production.

Expected decline in urea prices due to oversupply and competitive
feedstock

In the recent years, the price of urea is expected to decline due to
oversupply and competitive feedstock. Also, the rising competition among
the suppliers across regions can help the buyers procure products at
lower prices.

Growing focus on R&D activities by suppliers

The top suppliers in the urea category have increased their R&D spending
by 2%-4%. This is mainly due to the increasing demand for high-quality
urea grades that suit the end-products. In addition, it also enhances
features of end-user products.

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our report snapshot to gain detailed insights into the current
market trends.

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About SpendEdge

SpendEdge shares your passion for driving sourcing and procurement
excellence. We are a preferred procurement market intelligence partner
for Fortune 500 firms and other leading companies across numerous
industries. Our strength lies in delivering robust, real-time
procurement market intelligence that helps sourcing and procurement
professionals make informed decisions. These innovative procurement
solutions help enterprises transform structural capabilities, improve
execution efficiency, and fast-track time to savings.

Contacts

SpendEdge
Anirban Choudhury
Marketing Consultant
US: +1
630 984 7340
[email protected]