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Urea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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  • 141 Pages
  • September 2023
  • Region: Global
  • IMARC Group
  • ID: 5633175
The global urea market size reached US$ 50.9 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 57.0 Billion by 2028, exhibiting a growth rate (CAGR) of 1.8% during 2023-2028. The increasing demand for food and crops, rising sales of vehicles, and the growing usage in the production of medical drugs represent some of the key factors driving the market.

Urea (?CH4N2O), also known as carbamide, is a colorless, odorless, and crystalline substance soluble in water and ethanol. It is a stable compound composed of carbon, nitrogen, oxygen, and hydrogen. It is generally synthesized by combining ammonia with carbon dioxide (CO2) under high pressure to obtain solid odorless white pellets or crystals. It is a dry granular substance that is easy to handle and transport. It can be applied to the soil using various equipment, such as spreaders and sprayers. It does not break down easily and is stored for a long period without losing its effectiveness as a fertilizer.

Global Urea Market Trends:

The growing global population and consequently surging need for food represent one of the major factors driving the demand for CH4N2O to improve soil fertility and crop production around the world. Moreover, declining arable land, rising food security concerns, and the growing awareness about the harmful effects of chemical-based fertilizers are catalyzing the need for eco-friendly solutions, including CH4N2O to improve crop yield. This, coupled with the shifting consumer preferences for organic food products and significant growth in the agricultural sector, is favoring the growth of the market. Besides this, the rising need for efficient cattle feed supplements is strengthening the growth of the market. In addition, CH4N2O is employed in the automotive industry to reduce nitrogen oxide emissions from diesel engines and meet emission regulations. It is also used in the exhaust systems and tanks of diesel-powered vehicles to remove nitrogen oxide from the exhaust. This, along with the increasing sales of vehicles on account of rapid urbanization and inflating income levels, is propelling the growth of the market. Furthermore, the rising use of CH4N2O in various medical treatments like hemodialysis to remove excess fluids and waste products from the blood of patients with kidney failure is contributing to the market growth. Apart from this, the growing utilization of CH4N2O in the manufacturing of medical drugs and ointments to treat skin conditions like psoriasis, eczema, and calluses is influencing the market positively. Additionally, the increasing usage of CH4N2O in the production of other chemicals, such as adhesives, resins, melamine, and explosives, is creating a positive outlook for the market.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global urea market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on grade, application and end-use industry.

Grade Insights:

  • Fertilizers Grade
  • Feed Grade
  • Technical Grade
The report has provided a detailed breakup and analysis of the urea market based on the grade. This includes fertilizers grade, feed grade, and technical grade. According to the report, technical grade represented the largest segment.

Application Insights:

  • Nitrogenous Fertilizer
  • Stabilizing Agent
  • Keratolyte
  • Resin
  • Others
A detailed breakup and analysis of the urea market based on the application has also been provided in the report. This includes nitrogenous fertilizers, stabilizing agents, keratolytes, resins and others. According to the report, nitrogenous fertilizer accounted for the largest market share.

End-Use Industry Insights:

  • Agriculture
  • Chemical
  • Automotive
  • Medical
  • Others
The report has provided a detailed breakup and analysis of the urea market based on the grade. This includes agriculture, chemical, automotive, medical and others. According to the report, agriculture represented the largest segment.

Regional Insights:

  • North America
  • United States
  • Canada
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) was the largest market for urea. Some of the factors driving the Asia Pacific urea market included rising food security concerns, government initiatives, development in the agriculture sector, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global urea market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Acron Group, BASF SE, BIP (Oldbury) Limited, EuroChem, Jiangsu Sanmu Group Co. Ltd., Koch Fertilizer LLC, OCI N.V, Petrobras, Qatar Fertiliser Company, SABIC, Yara International ASA, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global urea market in 2022?
2. What is the expected growth rate of the global urea market during 2023-2028?
3. What are the key factors driving the global urea market?
4. What has been the impact of COVID-19 on the global urea market?
5. What is the breakup of the global urea market based on the grade?
6. What is the breakup of the global urea market based on the application?
7. What is the breakup of the global urea market based on the end-use industry?
8. What are the key regions in the global urea market?
9. Who are the key players/companies in the global urea market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Urea Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Grade
6.1 Fertilizers Grade
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Feed Grade
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Technical Grade
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Application
7.1 Nitrogenous Fertilizer
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Stabilizing Agent
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Keratolyte
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Resin
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by End-Use Industry
8.1 Agriculture
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Chemical
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Automotive
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Medical
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States Market Trends Market Forecast
9.1.2 Canada Market Trends Market Forecast
9.2 Asia Pacific
9.2.1 China Market Trends Market Forecast
9.2.2 Japan Market Trends Market Forecast
9.2.3 India Market Trends Market Forecast
9.2.4 South Korea Market Trends Market Forecast
9.2.5 Australia Market Trends Market Forecast
9.2.6 Indonesia Market Trends Market Forecast
9.2.7 Others Market Trends Market Forecast
9.3 Europe
9.3.1 Germany Market Trends Market Forecast
9.3.2 France Market Trends Market Forecast
9.3.3 United Kingdom Market Trends Market Forecast
9.3.4 Italy Market Trends Market Forecast
9.3.5 Spain Market Trends Market Forecast
9.3.6 Russia Market Trends Market Forecast
9.3.7 Others Market Trends Market Forecast
9.4 Latin America
9.4.1 Brazil Market Trends Market Forecast
9.4.2 Mexico Market Trends Market Forecast
9.4.3 Others Market Trends Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
11.1 Overview
11.2 Inbound Logistics
11.3 Operations
11.4 Outbound Logistics
11.5 Marketing and Sales
11.6 Service
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Indicators
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Acron Group Company Overview Product Portfolio
14.3.2 BASF SE Company Overview Product Portfolio Financials SWOT Analysis
14.3.3 BIP (Oldbury) Limited Company Overview Product Portfolio Financials
14.3.4 EuroChem Company Overview Product Portfolio
14.3.5 Jiangsu sanmu group Co. Ltd. Company Overview Product Portfolio
14.3.6 Koch Fertilizer LLC Company Overview Product Portfolio
14.3.7 OCI N.V Company Overview Product Portfolio Financials
14.3.8 Petrobras Company Overview Product Portfolio Financials SWOT Analysis
14.3.9 Qatar Fertiliser Company Company Overview Product Portfolio
14.3.10 SABIC Company Overview Product Portfolio Financials SWOT Analysis
14.3.11 Yara International ASA Company Overview Product Portfolio Financials SWOT Analysis

Companies Mentioned

  • Acron Group
  • BIP (Oldbury) Limited
  • EuroChem
  • Jiangsu Sanmu Group Co. Ltd.
  • Koch Fertilizer LLC
  • OCI N.V
  • Petrobras
  • Qatar Fertiliser Company
  • Yara International ASA



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