Urea Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Urea Market
The Urea market size was valued at USD 128.92 billion in 2023, and the market is now projected to grow from USD 123.95 billion in 2024 to USD 160.67 billion by 2032, exhibiting a CAGR of 2.2% during the forecast period of 2023-2030.
During the development of the COVID-19 pandemic, the lockdown critically challenged the exchange of carbamide & related merchandise throughout the globe. However, the agriculture enterprise and animal feed zone showcased resilience in comparison to the commercial area.
The decreasing availability of grazing land coupled with the high price of many excessive-protein grains and feed grains throughout the globe has made urea a fee-effective supply of protein for farm animals's eating regimen. This fabric has a crude protein cost of about 281%. Cattle and other ruminants convert the product into protein via bacterial action. Therefore, the developing animal husbandry industry throughout the globe is anticipated to in addition push the growing product call for as a feed in the coming years. This outcomes in Urea market growth.
Developments in manufacturing technologies inclusive of Blue Urea present rewarding opportunities for market growth. This modern product is produced below attenuated reaction situations. This is executed by means of using water, nitrogen, and carbon dioxide as uncooked substances.
Comprehensive Analysis of Urea Market
The Urea market is rising at an exponential charge due to its marketplace segmentation. Based on grade, the market is bifurcated into fertilizer grade, feed grade, and Technical Grade. Based on revenue streaming, the market is segmented into agriculture, animal feed, chemical synthesis, and others.
Asia Pacific has the largest Urea market share. There is a huge upward push in population within the vicinity, ensuing in elevated food call for. This has caused an growth in call for for fertilizers to growth crop yield according to hectare of agricultural land. Also, growing use within the animal feed enterprise is pushing the demand for feed-grade merchandise within the place. All these elements have brought about a upward thrust in carbamide manufacturing to fulfill growing call for.
The top players in the market play a crucial role in the Urea industry assuring industrial prospectus growth and setting market standards. These players include, China National Petroleum Corporation (CNPC) (China), SABIC (Saudi Arabia), Qatar Fertilizer Company (Qatar)Nutrien AG (Canada), OCI N.V. (Netherlands), EuroChem (Switzerland), Yara International ASA (Norway), Acron Group (Russia), CF Industries Holdings (U.S.), HUBEI YIHUA CHEMICAL INDUSTRY CO., LTD. (China), and Koch Fertilizer, LLC (U.S.), and Coromandel International Limited (India).
In March 2023, SABIC introduced that it's far taking part with U.S.-based businesses, BiOWiSH Technologies and ADM, to deliver Bio-Enhanced Urea to farmers for 2023’s developing season to guide sustainable agriculture.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 2.2% from 2024 to 2032
Unit Value (USD Billion), Volume (Million Tons)
Segmentation By Grade
Fertilizer Grade
Feed Grade
Technical Grade
By Application
Agriculture
Animal Feed
Chemical Synthesis
Others
By Geography
North America {By Grade, By Application, By Country}
- U.S.
- Canada
Europe {By Grade, By Application, By Country}
- Russia
- France
- Germany
- Rest of Europe
Asia Pacific {By Grade, By Application, By Country}
- China
- India
- ASEAN
- Rest of Asia Pacific
Latin America {By Grade, By Application, By Country}
- Mexico
- Brazil
- Rest of Latin America
Middle East and Africa {By Grade, By Application, By Country}
- Turkey
- GCC
- Rest of Middle East & Africa
Please Note: It will take 5-6 business days to complete the report upon order confirmation.
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Trends
- 4.2. Key Industry Developments
- 4.3. Insights on Regulatory Scenario
- 4.4. PEST Analysis
- 4.5. PORTER’s Five Forces Analysis
- 4.6. Impact of COVID-19 on the Market
- 5. Global Urea Market Analysis, Insights and Forecast, 2019–2032
- 5.1. Key Findings / Summary
- 5.2. By Grade (Value & Volume)
- 5.2.1. Fertilizer Grade
- 5.2.2. Feed Grade
- 5.2.3. Technical Grade
- 5.3. By Application (Value & Volume)
- 5.3.1. Agriculture
- 5.3.2. Animal Feed
- 5.3.3. Chemical Synthesis
- 5.3.4. Others
- 5.4. By Region (Value & Volume)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America
- 5.4.5. Middle East & Africa
- 6. North America Urea Market Analysis, Insights and Forecast, 2019–2032
- 6.1. Key Findings / Summary
- 6.2. By Grade (Value & Volume)
- 6.2.1. Fertilizer Grade
- 6.2.2. Feed Grade
- 6.2.3. Technical Grade
- 6.3. By Application (Value & Volume)
- 6.3.1. Agriculture
- 6.3.2. Animal Feed
- 6.3.3. Chemical Synthesis
- 6.3.4. Others
- 6.4. By Country (Value & Volume)
- 6.4.1. U.S.
- 6.4.2. Canada
- 7. Europe Urea Market Analysis, Insights and Forecast, 2019–2032
- 7.1. Key Findings / Summary
- 7.2. By Grade (Value & Volume)
- 7.2.1. Fertilizer Grade
- 7.2.2. Feed Grade
- 7.2.3. Technical Grade
- 7.3. By Application (Value & Volume)
- 7.3.1. Agriculture
- 7.3.2. Animal Feed
- 7.3.3. Chemical Synthesis
- 7.3.4. Others
- 7.4. By Country (Value & Volume)
- 7.4.1. Russia
- 7.4.2. France
- 7.4.3. Germany
- 7.4.4. Rest of Europe
- 8. Asia Pacific Urea Market Analysis, Insights and Forecast, 2019–2032
- 8.1. Key Findings / Summary
- 8.2. By Grade (Value & Volume)
- 8.2.1. Fertilizer Grade
- 8.2.2. Feed Grade
- 8.2.3. Technical Grade
- 8.3. By Application (Value & Volume)
- 8.3.1. Agriculture
- 8.3.2. Animal Feed
- 8.3.3. Chemical Synthesis
- 8.3.4. Others
- 8.4. By Country (Value & Volume)
- 8.4.1. China
- 8.4.2. India
- 8.4.3. ASEAN
- 8.4.4. Rest of Asia Pacific
- 9. Latin America Urea Market Analysis, Insights and Forecast, 2019–2032
- 9.1. Key Findings / Summary
- 9.2. By Grade (Value & Volume)
- 9.2.1. Fertilizer Grade
- 9.2.2. Feed Grade
- 9.2.3. Technical Grade
- 9.3. By Application (Value & Volume)
- 9.3.1. Agriculture
- 9.3.2. Animal Feed
- 9.3.3. Chemical Synthesis
- 9.3.4. Others
- 9.4. By Country (Value & Volume)
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Rest of Latin America
- 10. Middle East & Africa Urea Market Analysis, Insights and Forecast, 2019–2032
- 10.1. Key Findings / Summary
- 10.2. By Grade (Value & Volume)
- 10.2.1. Fertilizer Grade
- 10.2.2. Feed Grade
- 10.2.3. Technical Grade
- 10.3. By Application (Value & Volume)
- 10.3.1. Agriculture
- 10.3.2. Animal Feed
- 10.3.3. Chemical Synthesis
- 10.3.4. Others
- 10.4. By Country (Value & Volume)
- 10.4.1. Turkey
- 10.4.2. GCC
- 10.4.3. Rest of Middle East & Africa
- 11. Company Profiles
- 11.1. SABIC
- 11.1.1. Overview
- 11.1.2. Products & Services
- 11.1.3. Recent Developments
- 11.1.4. Strategies
- 11.1.5. Financials (based on availability)
- 11.2. Qatar Fertilizer Company (QAFCO)
- 11.2.1. Overview
- 11.2.2. Products & Services
- 11.2.3. Recent Developments
- 11.2.4. Strategies
- 11.2.5. Financials (based on availability)
- 11.3. EuroChem
- 11.3.1. Overview
- 11.3.2. Products & Services
- 11.3.3. Recent Developments
- 11.3.4. Strategies
- 11.3.5. Financials (based on availability)
- 11.4. Yara International ASA
- 11.4.1. Overview
- 11.4.2. Products & Services
- 11.4.3. Recent Developments
- 11.4.4. Strategies
- 11.4.5. Financials (based on availability)
- 11.5. Nutrien AG
- 11.5.1. Overview
- 11.5.2. Products & Services
- 11.5.3. Recent Developments
- 11.5.4. Strategies
- 11.5.5. Financials (based on availability)
- 11.6. OCI N.V.
- 11.6.1. Overview
- 11.6.2. Products & Services
- 11.6.3. Recent Developments
- 11.6.4. Strategies
- 11.6.5. Financials (based on availability)
- 11.7. Acron Group
- 11.7.1. Overview
- 11.7.2. Products & Services
- 11.7.3. Recent Developments
- 11.7.4. Strategies
- 11.7.5. Financials (based on availability)
- 11.8. CF Industries
- 11.8.1. Overview
- 11.8.2. Products & Services
- 11.8.3. Recent Developments
- 11.8.4. Strategies
- 11.8.5. Financials (based on availability)
- 11.9. HUBEI YIHUA CHEMICAL INDUSTRY CO., LTD.
- 11.9.1. Overview
- 11.9.2. Products & Services
- 11.9.3. Recent Developments
- 11.9.4. Strategies
- 11.9.5. Financials (based on availability)
- 11.10. Koch Fertilizer, LLC
- 11.10.1. Overview
- 11.10.2. Products & Services
- 11.10.3. Recent Developments
- 11.10.4. Strategies
- 11.10.5. Financials (based on availability)
- 11.11. Coromandel International Limited
- 11.11.1. Overview
- 11.11.2. Products & Services
- 11.11.3. Recent Developments
- 11.11.4. Strategies
- 11.11.5. Financials (based on availability)
- 12. Strategic Recommendations
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook