The North American urea fertilizers market is estimated to grow at a compound annual growth rate (CAGR) of 2.8% from 2014 to 2019. The North American market is a leading market in global urea fertilizer production and consumption. Petroleum products are used for the manufacture of urea and North America is a petroleum-rich region. Moreover, the remarkable growth in the production of shale oil has offered another source for petroleum products and this has ensured that North America will have a supply of petroleum products to manufacture urea fertilizers from it.
In this report, the North American urea fertilizers market has been broadly discussed by its application in grains, oilseeds, fruits, and vegetables, among other crops. The grains & oilseeds application segment of the North American urea fertilizers market is estimated to grow at the fastest CAGR during the forecast period of 2014 to 2019.
The U.S. is the largest urea fertilizers market among the North American countries with a market share of 51.2%, followed by Canada. The Mexican segment is expected to grow at the fastest CAGR during the given forecast period.
CF Industries Holdings, Inc. (U.S.) accounted for a major share in the North American market in 2014. Other firms such as Yara International ASA (Norway), Agrium Inc. (Canada), and PotashCorp (Canada) are competing for the growing urea market in the region. These companies are developing market strategies such as mergers & acquisitions, joint ventures, development of new products, and expansions to increase their market share in the North American urea fertilizer market.
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