The market for urea is projected to reach USD 93.25 billion by 2029 from USD 80.25 billion in 2024, at a CAGR of 3.05% during the forecast period. The global urea market is expected to expand further in the future with growing applications across various sectors which include nitrogenous fertilizers, melamine production, additives for cattle feed, diesel exhaust fluid, and other applications including stabilizing agents, keratolytes, etc. Urea is a highly soluble nitrogen fertilizer, quite valued for its high content of nitrogen and its efficiency in the promotion of plant growth. The major sector involves agriculture, where urea is used as an essential nitrogen fertilizer contributing to higher crop yield and food security.
From increasing agricultural production to promoting sustainability in the many industries involved, urea has been an essential component in addressing such global concerns as food security, environmental sustainability, and health care. With the growth of human populations and the need for higher agricultural productivity to meet the requirements of food security, urea plays a vital input role in increasing crop yields. Although urea is one of the most important fertilizers meant for the enhancement of growth, its effectiveness sometimes goes down the drain because of nitrogen volatilization, an effect that not only poses a threat to agricultural productivity but also environmental risks, such as air pollution and water pollution, and many more effects.
Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments and the information gathered through secondary research.
From increasing agricultural production to promoting sustainability in the many industries involved, urea has been an essential component in addressing such global concerns as food security, environmental sustainability, and health care. With the growth of human populations and the need for higher agricultural productivity to meet the requirements of food security, urea plays a vital input role in increasing crop yields. Although urea is one of the most important fertilizers meant for the enhancement of growth, its effectiveness sometimes goes down the drain because of nitrogen volatilization, an effect that not only poses a threat to agricultural productivity but also environmental risks, such as air pollution and water pollution, and many more effects.
Agricultural Grade is the largest segment in the urea market by grade
Agricultural grade urea is one of the top varieties in the urea market, with about 46% nitrogen. It is used as an all-purpose growth stimulant for plants which, being made by an ammonium-carbon dioxide reaction, may come in a granular or prilled form to accommodate most applications of agriculture. Its particular quality standards include low levels of aldehyde, biuret, and moisture to ensure an effective nutrient supply, leading to high-yield crops, which leads to better food security. Various drivers support the production of agricultural grade urea, with growth in the global population to meet the growing food supply need and produce more yields using effective fertilizers. Increased flexibility from different crops to have a favorable and slow release of nutrients by making them compatible with other fertilizers makes them suitable for tailored nutrient management supporting agricultural grade urea.Nitrogenous fertilizers is the largest segment by applications in the urea market
One of the most commonly used nitrogenous fertilizers worldwide is urea, which contains almost 46% nitrogen and plays an important role in enhancing agricultural productivity and, therefore food security. Urea is highly soluble in water as well, but easy to apply either as a granule, prilled, pastille, or as dissolved liquid forms. Over 90 percent of the world's urea production is sold as a nitrogen-releasing fertilizer. Urea is used in every type of agriculture for growing all types of crops, such as cereals (wheat, rice, corn), oilseeds (soybeans, canola), fruits, and vegetables. Government initiatives and subsidies in developing countries combined with the easy availability of fertilizers further strengthen this trend. Commercialization of agriculture coupled with advances in agricultural technology has increased the need for nitrogenous fertilizers to better crop production.Asia Pacific is the largest segment in the urea market by region
For the urea market, APAC is the leading region. This surge can be attributed to the expanding population and urbanization processes. The growth of the urea market in the Asia-Pacific region is driven by several key factors, these include rising agricultural demand due to population increase, government encouragement and subsidies of fertilizer, and adaptation of modern farming practices for optimization in nutrient management. The potential scope of industrial application in the automotive industry, animal feed, and chemical production among others gives the use of urea a wider market expansion. Consequently, rapid urbanization compels accelerated food production capabilities, and therefore, urea continues to be an essential feedstock responding to regional food security needs while facilitating agricultural economic development in the region.Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments and the information gathered through secondary research.
The break-up of primary interviews is given below:
By Department: Tier 1: 40%, Tier 2: 25%, and Tier 3: 35%
- By Designation: C Level: 35%, Director Level: 30%, and Executives: 35%
- By Region: North America: 25%, Europe: 45%, Asia Pacific: 20%, South America: 5%, Middle East & Africa 5%
Research Coverage
The market study covers the urea market across various segments. It aims to estimate the market size and the growth potential of this market across different segments based on product type, grade, application, technology, endues industry, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the urea market.Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall urea market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.The report provides insights on the following pointers:
- Analysis of key drivers (, Increasing demand from nitrogenous fertilizers, Supporting government initiatives in some regions, and Adoption of sustainable practices), restraints (Raw material price fluctuations, and Competition from alternatives), opportunities (Growing demand in emerging markets, and Nano Urea: A growing market opportunity), challenges (Supply chain disruptions, and Environmental and energy challenges in urea manufacturing).
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the urea market
- Market Development: Comprehensive information about lucrative markets - the report analyses the urea market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the urea market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like CF Industries Holdings, Inc. (US), Pupuk Indonesia (Persero) (Indonesia), Yara International ASA (Norway), SABIC (Saudi Arabia), OCI (Netherlands), Nutrien (Canada), EuroChem Group (Switzerland), Qatar Fertiliser Company (Qatar), BASF SE (Germany), CNPC (China), and IFFCO (India) among others are the top manufacturers covered in the urea market.
Table of Contents
1 Introduction
2 Research Methodology
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Urea Market, by Grade
8 Urea Market, by Application
9 Urea Market, by End-use Industry
10 Urea Market, by Product Type
11 Urea Market, by Technology
12 Urea Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Adjacent & Related Markets
16 Appendix
List of Tables
List of Figures
Companies Mentioned
- Cf Industries Holdings, Inc.
- Pupuk Indonesia (Persero)
- Yara International Asa
- Sabic
- Oci
- Nutrien
- Eurochem Group
- Qatar Fertilizer Company
- BASF SE
- Cnpc
- Iffco
- American Plant Food Corporation
- Greenway Biotech, Inc.
- Gac Chemical Corporation
- Ravensdown
- Vinipul Inorganics Pvt. Ltd.
- Gujarat State Fertilizers & Chemicals Limited (Gsfc)
- Group Df
- Fertiberia
- Kanto Chemical Co. Inc.
- Dubi Chem Marine International
- Pt Pupuk Sriwidjaja Palembang (Pusri)
- Jsc Togliattiazot (Toaz)
- Anmol Chemicals Private Limited
- Greenstar Fertilizers Limited
- Matix Fertilisers and Chemicals Limited
- Koch Fertilizer, LLC
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 302 |
Published | November 2024 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 80.25 Billion |
Forecasted Market Value ( USD | $ 93.25 Billion |
Compound Annual Growth Rate | 3.0% |
Regions Covered | Global |
No. of Companies Mentioned | 27 |