In the Asia-Pacific region and globally, major urea-producing countries include China, India, Russia, the United States, and Indonesia. China is the world's largest producer and exporter of urea, with extensive production facilities and technological advantages. India is the second-largest producer, primarily relying on domestic consumption. Russia and the United States also hold significant positions in urea production and export, leveraging their abundant natural gas resources and advanced technologies. Indonesia, with its natural gas reserves and advantageous geographical location, has become an important urea producer and exporter in the Asia-Pacific region. The import market of urea in Vietnam is heavily dependent on imported products.
Vietnam is an agricultural powerhouse, with agriculture playing a crucial role in its national economy. In 2023, agriculture contributed 12% to Vietnam's GDP growth, with over 50% of the population in rural and 60% of the total land area consisting of arable and forest land. According to the publisher's analysis, due to limited local fertilizer production capacity, Vietnam needs to import 3-4 million tons of fertilizer annually. Vietnam is also one of the largest users of chemical fertilizers globally and heavily relies on imports. The import volume of urea in Vietnam has been continuously increasing.
The publisher's analysis indicates that over the past five years, the fertilizer market in Vietnam has been on an upward trend, with an annual apparent consumption of over 6 million tons and a market scale exceeding USD 2 billion annually. Nitrogen fertilizers are among the most imported fertilizers in Vietnam, accounting for over 30% of total fertilizer imports, with an import value of approximately USD 300 million, representing over 20% of the total import value. Urea is one of the most widely used nitrogen fertilizers in agriculture. According to the publisher's analysis, in 2023, Vietnam's urea imports amounted to approximately USD 160 million. From January to May 2024, Vietnam has already imported nearly USD 50 million worth of urea, indicating a continued growth trend in market demand.
Urea is an indispensable nitrogen fertilizer in Vietnam's agricultural production. Due to the high demand for fertilizers and limited local production capacity, the import volume of urea in Vietnam is substantial. Vietnam mainly imports urea from China, India, Malaysia, and the UAE to meet domestic agricultural production needs. The Vietnamese government and agricultural departments actively promote scientific methods of urea application to improve its utilization efficiency and reduce environmental pollution. With the progress of agricultural modernization, the usage and demand for urea in Vietnam are expected to continue growing, providing significant support for the country's agricultural development.
According to the publisher's analysis, from 2021 to 2024, the main sources of urea imports for Vietnam include Singapore, Indonesia, Brunei, and China. Major companies exporting urea to Vietnam include Samsung, LIVEN NUTRIENTS, SOL COMMODITIES, etc. In Vietnam, the main importers of urea include local fertilizer distributors and logistics companies as well as foreign-invested enterprises, predominantly local companies such as TUONG NGUYEN IMPORT EXPORT TRADING SERVICE COMPANY, CTY TNHH PHÂN BÓN GIA VŨ, and VINACAM GROUP JSC.
Overall, with population growth and ongoing agricultural development in Vietnam, the demand for urea is expected to continue rising. According to the publisher's forecast, the import of urea in Vietnam will maintain a growth trend in the coming years, playing a crucial role in stabilizing and boosting agricultural production in the country.
Topics covered:
- The Import and Export of Urea in Vietnam (2021-2024)
- Total Import Volume of Urea in Vietnam (2021-2024)
- Total Import Value and Growth Rate of Urea in Vietnam (2021-2024)
- Total Import Value and Growth Rate of Urea in Vietnam (January-May 2024)
- Average Import Price of Urea in Vietnam (2021-2024)
- Top 10 Sources of Urea Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Urea in Vietnam and Their Supply Volume
- Top 10 Importers of Urea in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Urea in Vietnam
- How Foreign Enterprises Enter the Fertilizer Market of Vietnam
- Forecast for the Import of Urea in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- Samsung
- LIVEN NUTRIENTS
- SOL COMMODITIES
- TUONG NGUYEN IMPORT EXPORT TRADING SERVICE COMPANY
- CTY TNHH PHAN BON GIA VU
- VINACAM GROUP JSC
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | July 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 164 Million |
| Forecasted Market Value ( USD | $ 227.43 Million |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 6 |
