Urea Market Share, Supply, Analysis and Forecast To 2031

Urea Market 2022

The current market value for urea is around US$ 31 billion. By 2031, it is expected that urea sales would exceed US$ 40 billion and grow at a 2.3% CAGR. Market expansion is being fueled by rising urea demand from the agricultural sector and government subsidies for certain fertilisers.

A complete evaluation of Urea Market Sale is published on PMR. Major forces impacting Urea Market Sale and their impact on Urea Market Sale rise are presented in detail in the report. A complete analysis of COVID 19 impact on Urea Market Sale is offered along with the report. In addition, the influence of natural disaster and political tension on Urea Market Sale are also presented in the report. Real time and short-term impact, along with major long-term consequences of these forces on Urea Market Sale is also detailed in the report. The report comprises of segment and regional analysis section. A complete another section is dedicated to the dynamics of key players operating in Urea Market Sale.

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Competitive Landscape

The global urea market has been identified as a significantly fragmented space, with large manufacturers occupying a major section of the overall industry. Tier-1 manufacturers account for highest market share.

Some of the leading players included in the report are Euro Chem, BASF SE, China National Petroleum Corporation, CF Industries Holdings, Inc., Nutrien Ltd., OST chem, Yara International ASA, Industries Qatar Q.P.S.C, SABIC, PT Pupuk Sriwidjaja Palembang (PUSRI), PT Pupuk Kujang, and PT Pupuk Kalimantan Timur, who are anticipated to create a tough competitive environment at the global level.

Growing demand for food and other agricultural products owing to rise in population and urbanization across the globe is driving demand for fertilizers, which, in turn, is elevating demand for urea in the global market.

Demand for industrial-grade urea is also increasing to reduce the emission of nitrous oxide (NOx) gases from diesel, dual-fuel, and lean-burn natural gas engines. There is a growing demand for nutrient-rich NPK fertilizers, which is also boosting the demand for urea globally.

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Key Takeaways – Lime Market in Australia

• Demand for urea is increasing due to rising use of fertilizers across the world to increase per hectare production capacity of land to cater to rising demand for food and other agricultural-based products.
• Countries such as India, Brazil, Indonesia, and Mexico are the fastest-growing markets, expanding at a healthy CAGR owing to the high production of agricultural-based products in these countries.
• China is one of the most lucrative markets for manufacturers owing to vast population and manufacturer-friendly governmental regulations.
• Various environmental regulations imposed on the use of solid urea due to emission of gaseous ammonia that can be dangerous for the environment as well as human health is a longstanding challenge for manufacturers to overcome.
• Demand for industrial-grade urea is also increasing from the automobile sector owing to the use of urea in selective non-catalytic reduction (SNCR) and selective catalytic reduction (SCR) processes, which are used to reduce the emission of harmful gasses from automobile engines.

"Demand for urea is highest from the fertilizer segment across regions, and will remain so in future," says an analyst of Persistence Market Research.

Conclusion

The global urea market is witnessing significant growth due to factors such as growth in population, urbanization, rising demand for food products, and rise in need to increase per hectare yield of land. However, factors such as environmental regulations imposed due to the emission of ammonia gas from ammonium-based fertilizers such as urea are hindering market growth to some extent.

Declining natural gas prices are leading to increasing profitability margins, due to which, more private players are increasing their urea production capacities globally.

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Key Questions Answered in This Report –

• How much is the global urea market valued at currently?
• What is main factor driving demand for urea?
• At what CAGR did demand for urea increase over the past 5 years?
• What will be the demand outlook for urea through 2031?
• What are the key trends being witnessed in this marketplace?
• What is the market share of the top 5 manufacturers of urea?
• At what rate is the market in Ukraine registering growth in Europe?
• Which are the top 5 countries driving most of the demand for urea?
• Which countries are the key producers of urea?
• Which nations are the key exporters of urea?
• How is the urea market faring in Japan and South Korea?
• How much is the global urea market valued at currently?
• What is main factor driving demand for urea?
• At what CAGR did demand for urea increase over the past 5 years?
• What will be the demand outlook for urea through 2031?

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