Urea Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Grade (Fertilizer, Feed, and Technical), End-user Industry (Agriculture, Chemical, Automotive, Medical, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa).

Market Snapshot

Study Period:

2016-2024

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

2.5 %

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Market Overview

The market for urea is expected to witness a CAGR of more than 2.5% over the forecast period. One of the major factors driving the market studied is the increasing demand for fertilizers in the agriculture industry. However, health hazards regarding urea are likely to restrain the market.

  • Stringent environment regulations for automotive emissions are also likely to boost the demand for urea, during the forecast period.
  • The discovery of applications for urea in the preparation of bio-bricks is likely to create opportunities for the market in the coming years.
  • Asia-Pacific accounted for the highest market share, and it is likely to dominate the market during the forecast period.

Scope of the Report

The urea market report includes:

Grade
Fertilizer
Feed
Technical
End-user Industry
Agriculture
Chemical
Automotive
Medical
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Rest of the Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa (MEA)

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Key Market Trends

Technical Grade is Likely to Witness the Highest Growth Rate

  • Technical grade urea is used in many applications, such as glue, medical drugs, dyes, disinfectants, cosmetics, and in the production of yeast.
  • With the technological advancements in the automotive industry to meet the emission regulations, the use of urea in adblue to reduce the nitrogen oxide emission from the exhaust is increasing.
  • Further, with the growing automotive fleet across the world, the consumption of adblue is projected to increase, which in turn will increase the consumption of technical grade urea.
  • Additionally, urea is also used as a base component in many creams and with the growing demand for cosmetics, the demand for technical grade urea is likely to increase.
  • Overall, the market for technical grade urea is expected to register the highest growth rate during the forecast period.

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Asia-Pacific to Dominate the Market

  • The Asia-Pacific region accounted for the highest market share followed by North America.
  • With the increase in population, developments in the agriculture industries are taking place in countries, like India and China. This results in an increase in the consumption of nitrogen fertilizers, thereby, driving the market.
  • Apart from the agriculture industry, consumption is also increasing with the advancements in chemical, automobile, and medical industries.
  • Additionally, China is one of the largest producers of urea-formaldehyde resin in the world.
  • Therefore, the consumption of urea is also expected to increase, due to the increasing demand for urea-formaldehyde resin in China.
  • Hence, owing to the above-mentioned factors, Asia-Pacific is likely to dominate the market during the forecast period.

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Competitive Landscape

The market for urea is partially consolidated, as the market share is divided among a few major companies. Some of the key players of the market include SABIC, BASF SE, Nutrien Ltd., EuroChem Group,  and KBR Inc. among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Fertilizers in the Agriculture Industry

      2. 4.1.2 Stringent Environment Regulations for Automotive Emissions

    2. 4.2 Restraints

      1. 4.2.1 Health Hazards Regarding Urea

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Feedstock Analysis

    6. 4.6 Technological Snapshot

      1. 4.6.1 Production Process

      2. 4.6.2 Patent Analysis

    7. 4.7 Import-Export Trends

    8. 4.8 Regulatory Policy Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Grade

      1. 5.1.1 Fertilizer

      2. 5.1.2 Feed

      3. 5.1.3 Technical

    2. 5.2 End-user Industry

      1. 5.2.1 Agriculture

      2. 5.2.2 Chemical

      3. 5.2.3 Automotive

      4. 5.2.4 Medical

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 France

        3. 5.3.3.3 United Kingdom

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of the Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa (MEA)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Acron

      2. 6.4.2 BASF SE

      3. 6.4.3 BIP (Oldbury) Limited

      4. 6.4.4 CF Industries Holdings Inc.

      5. 6.4.5 China National Petroleum Corporation

      6. 6.4.6 EuroChem

      7. 6.4.7 Jiangsu sanmu group Co,Ltd.

      8. 6.4.8 Koch Fertilizer LLC

      9. 6.4.9 Nutrien Ltd

      10. 6.4.10 OCI Nitrogen

      11. 6.4.11 Petrobras

      12. 6.4.12 Qatar Fertiliser Company

      13. 6.4.13 SABIC

      14. 6.4.14 Yara

      15. 6.4.15 Notore Chemical Industries Plc

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Discover of application in manufacturing Bio-bricks

** Subject to Availability

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