Currently, the major urea-producing countries worldwide include China, Russia, Middle Eastern countries, and Indonesia. Among these, China is the largest producer and exporter of urea globally, with significant comparative advantages, followed by Russia. In terms of overall market demand, agricultural nations in Africa, Latin America, and Asia are the primary regions driving global urea consumption.
With its large population and heavy reliance on agriculture, Bangladesh has high urea consumption. Agriculture dominates the Bangladeshi economy, with over 60% of the population engaged in farming. According to the publisher, to ensure that farmers can afford urea, the Bangladeshi government implements a subsidy policy on urea prices, which has, in turn, stimulated high demand for the fertilizer. Although Bangladesh has some urea production capacity, it is constrained by factors such as raw material supply, technology, and funding, resulting in limited overall production capability. Since local production cannot meet demand, Bangladesh imports significant quantities of urea annually.
According to the publisher's data, the total value of Bangladesh's urea imports reached USD 846 million in 2023. With even stronger market demand in 2024, the import value of urea from January to July 2024 reached approximately USD 467 million, and demand is expected to continue growing in the coming years.
The publisher analysis shows that Bangladesh's primary sources of urea imports include the UAE, Qatar, China, and Saudi Arabia, with Saudi Arabia being the largest source. From 2021 to 2024, the top three import sources of urea for Bangladesh were Saudi Arabia, Qatar, and the UAE. According to the publisher, major companies exporting urea to Bangladesh include Qatar Chemical and Petrochemical, SABIC Agri-Nutrients Company (Saudi Arabia), and Ruwais Fertilizer Industries. From 2021 to 2024, Bangladesh's leading urea importers included Bangladesh Chemical Industries, Bangladesh Chemical Industries Corporation, and Unimed Unihealth Pharmaceuticals, among others.
Overall, the demand for urea in Bangladesh continues to grow, while the country's domestic production capacity remains limited. The publisher forecasts indicate that Bangladesh will remain highly dependent on urea imports, with import volumes expected to keep increasing in the coming years.
Topics covered:
- The Import and Export of Urea in Bangladesh (2021-2024)
- Total Import Volume and Percentage Change of Urea in Bangladesh (2021-2024)
- Total Import Value and Percentage Change of Urea in Bangladesh (2021-2024)
- Total Import Volume and Percentage Change of Urea in Bangladesh (2024)
- Total Import Value and Percentage Change of Urea in Bangladesh (2024)
- Average Import Price of Urea in Bangladesh (2021-2024)
- Top 10 Sources of Urea Imports in Bangladesh and Their Supply Volume
- Top 10 Suppliers in the Import Market of Urea in Bangladesh and Their Supply Volume
- Top 10 Importers of Urea in Bangladesh and Their Import Volume
- How to Find Distributors and End Users of Urea in Bangladesh
- How Foreign Enterprises Enter the Urea Market of Bangladesh
- Forecast for the Import of Urea in Bangladesh (2024-2033)
Table of Contents
Companies Mentioned
- QATAR CHEMICAL AND PETROCHEMICAL
- SABIC AGRI-NUTRIENTS COMPANY (SAUDI ARABIA)
- RUWAIS FERTILIZER INDUSTRIES
- BANGLADESH CHEMICAL INDUSTRIES
- BANGLADESH CHEMICAL INDUSTRIES CORPORATION
- UNIMED UNIHEALTH PHARMACEUTICALS
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 | November 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 0.86 Billion |
| Forecasted Market Value ( USD | $ 1.17 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Bangladesh |
| No. of Companies Mentioned | 6 |
