Urea Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2033

Description

Persistence Market Research has recently published an extensive report on the global Urea Market. This report offers a comprehensive analysis of the key market dynamics, including drivers, trends, opportunities, and challenges, providing deep insights into the market structure.

Key Insights:

Urea Market Size (2024E): USD 33268.7 Million
Projected Market Value (2033F): USD 41,548.10 Million
Global Market Growth Rate (CAGR 2024 to 2033): 2.5%

Urea Market - Report Scope:

The Urea Market encompasses the production, distribution, and utilization of urea, a nitrogen-based compound widely used in agriculture as a fertilizer and in the chemical industry. Urea plays a pivotal role in enhancing agricultural productivity by providing essential nitrogen to crops. Beyond agriculture, urea has significant applications in industries such as pharmaceuticals, plastics, and automotive, where it is used in the production of resins, melamine, and diesel exhaust fluids. The market is segmented across diverse industries, including agriculture, chemical manufacturing, and automotive sectors. Growth in the urea market is driven by the rising demand for food security, advancements in urea production technologies, and its expanding application in various industrial processes.

Market Growth Drivers:

Several key factors are driving the global Urea Market. The increasing global population and rising food demand are boosting the need for nitrogen-based fertilizers, particularly urea, to enhance agricultural yields. Technological advancements in urea production, such as improvements in granulation and prilling processes, have enhanced production efficiency and reduced environmental impacts. Furthermore, the growing automotive industry's adoption of urea in diesel exhaust fluid (DEF) for emission control systems underpins market expansion. The rising use of urea in chemical applications, including the production of urea-formaldehyde resins and melamine, also contributes to the overall market growth.

In addition, the shift towards sustainable agricultural practices and the increasing adoption of urea-based fertilizers due to their cost-effectiveness and high nitrogen content are driving market demand. With the global focus on food security, urea remains a crucial component in meeting the nutritional needs of crops, leading to higher productivity and profitability for farmers worldwide.

Market Restraints:

Despite the positive outlook, the Urea Market faces challenges related to the environmental impact of urea usage, particularly in agriculture. Excessive application of urea-based fertilizers can result in nitrogen runoff and the release of harmful nitrous oxide gases, contributing to soil degradation and water pollution. Regulatory bodies are imposing stricter guidelines on nitrogen emissions and fertilizer application rates, which could potentially hinder market growth in regions with stringent environmental regulations.Moreover, fluctuating prices of raw materials used in urea production, such as natural gas, affect the overall cost structure of urea manufacturing. In regions where natural gas is scarce or expensive, the production of urea becomes less economically viable. Additionally, the availability of alternative fertilizers and bio-based options may present a competitive challenge to urea in certain markets.

Market Opportunities:

The Urea Market presents significant opportunities driven by advancements in sustainable agriculture and innovative production techniques. The development of slow-release urea fertilizers, which minimize nitrogen loss and improve nutrient uptake by plants, is gaining traction. This innovation aligns with the global trend toward sustainable farming practices and environmental conservation. The growing adoption of precision farming techniques, which optimize fertilizer usage based on soil and crop conditions, further supports the demand for specialized urea formulations.In the automotive sector, the increasing use of urea in Selective Catalytic Reduction (SCR) systems for diesel engines offers a substantial growth opportunity. As global regulations on vehicle emissions become stricter, the demand for diesel exhaust fluids containing urea is expected to rise, particularly in regions such as North America and Europe.Expansion into emerging markets, where agricultural productivity is critical for economic growth, also presents a lucrative opportunity for urea manufacturers.Investments in infrastructure, coupled with governmental support for agricultural development, are likely to boost urea consumption in countries across Asia, Latin America, and Africa.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the Urea Market globally?
Which industries are leading the adoption of urea in various applications?
How are technological advancements influencing the competitive landscape of the Urea Market?
Who are the key players in the Urea Market, and what strategies are they employing to stay competitive?
What are the emerging trends and future prospects in the global Urea Market?

Competitive Intelligence and Business Strategy:

Leading players in the global Urea Market, including Yara International, CF Industries, and Nutrien Ltd., focus on innovation, product differentiation, and strategic collaborations to gain a competitive edge. These companies invest heavily in research and development to enhance the efficiency of urea production processes, reduce environmental impact, and develop value-added products such as slow-release and coated urea fertilizers. Collaborations with agricultural institutions, research bodies, and government agencies facilitate market access and promote the adoption of sustainable urea-based solutions.In addition to their focus on agricultural markets, key players are expanding their footprint in the automotive sector by producing high-purity urea for diesel exhaust fluid applications. Companies are also exploring new markets in emerging economies, where the demand for fertilizers and industrial chemicals is on the rise. Emphasis on sustainability, innovation, and market diversification remains a cornerstone of business strategy in the evolving Urea Market landscape.

Key Companies Profiled:

PT Pupuk Sriwidjaja Palembang (PUSRI)
PT Pupuk Kujang
PT Pupuk Kalimantan Timur
Yara International ASA
Industries Qatar Q.P.S.C
SABIC
EuroChem Group
Nutrien Ltd
BASF SE
CF Industries Holdings, Inc.
OSTChem

Urea Market Industry Segmentation

By End-Use:

Agriculture
Industrial

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

Product Code: PMRREP32544

1. Executive Summary

1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Urea Product Segmentation

3. Key Market Trends

3.1. Key Trends Impacting the Market

4. Key Success Factors

4.1. Strategic Promotional Strategies

5. Global Market Demand Analysis 2019-2023 and Forecast, 2024-2033

5.1. Historical Market Volume (Kilo Tons) Analysis, 2019-2023
5.2. Current and Future Market Volume (Kilo Tons) Projections, 2024-2033
5.3. Y-o-Y Growth Trend Analysis

6. Pricing Mechanism & Cost Structure Analysis

7. Global Market Demand (in Value or Size in US$ Mn) Analysis 2019-2023 and Forecast, 2024-2033

7.1. Historical Market Value (US$ Mn) Analysis, 2019-2023
7.2. Current and Future Market Value (US$ Mn) Projections, 2024-2033
- 7.2.1. Y-o-Y Growth Trend Analysis
- 7.2.2. Absolute $ Opportunity Analysis

8. Market Background

8.1. Macro-Economic Factors
- 8.1.1. Macro-Economic Factors: Real GDP Growth
- 8.1.2. Macro-Economic Factors: Global Economic Outlook
- 8.1.3. Macro-Economic Factors: Global Fertilizer Industry Outlook
- 8.1.4. Macro-Economic Factors: Global Chemical Industry Outlook
- 8.1.5. Macroeconomic Factors
- 8.1.6. Global Agriculture Sector Outlook
- 8.1.7. Global Agriculture Industry Value Added (% of GDP) By Country, 2019
8.2. Forecast Factors - Relevance & Impact
- 8.2.1. Manufacturing Industry Value Addition & Expansion of Production Capacities
- 8.2.2. Impact of Import Export Trade Policies
- 8.2.3. Industrialization growth
- 8.2.4. GDP Growth Outlook
- 8.2.5. Growth in End-Use Industries
- 8.2.6. Raw Material Pricing
8.3. Value Chain
- 8.3.1. List of Supplier
- 8.3.2. List of Manufacturers
- 8.3.3. List of End Users
8.4. Market Dynamics
- 8.4.1. Drivers
- 8.4.2. Restraints
- 8.4.3. Opportunity Analysis
8.5. Buyer's Decision Analysis
8.6. Supply Demand Scenario
8.7. Production Process Overview
8.8. Impact of COVID - 19 Crisis

9. Global Market Analysis 2019-2023 and Forecast 2024-2033, By End-Use

9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) and Volume Analysis By End-Usee, 2019-2023
9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By End-Use, 2024-2033
- 9.3.1. Agriculture
- 9.3.2. Industrial

10. Global Market Analysis 2019-2023 and Forecast 2024-2033, by Region

10.1. Introduction
10.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2019-2023
10.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2024-2033
- 10.3.1. North America
- 10.3.2. Latin America
- 10.3.3. Europe
- 10.3.4. South Asia and Pacific
- 10.3.5. East Asia
- 10.3.6. Middle East & Africa
- 10.3.7. Indonesia

11. North America Market Analysis 2019-2023 and Forecast 2024-2033

11.1. Introduction
11.2. Pricing Analysis
11.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019-2023
11.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2033
- 11.4.1. By Country
  - 11.4.1.1. U.S.
  - 11.4.1.2. Canada
- 11.4.2. By End-Use
11.5. Market Attractiveness Analysis
- 11.5.1. By Country
- 11.5.2. By End-Use
11.6. Drivers and Restraints - Impact Analysis

12. Latin America Market Analysis 2019-2023 and Forecast 2024-2033

12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019-2023
12.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2033
- 12.4.1. By Country
  - 12.4.1.1. Brazil
  - 12.4.1.2. Mexico
  - 12.4.1.3. Rest of Latin America
- 12.4.2. By End-Use
12.5. Market Attractiveness Analysis
- 12.5.1. By Country
- 12.5.2. By End-Use
12.6. Drivers and Restraints - Impact Analysis

13. Europe Market Analysis 2019-2023 and Forecast 2024-2033

13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019-2023
13.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2033
- 13.4.1. By Country
  - 13.4.1.1. Germany
  - 13.4.1.2. Italy
  - 13.4.1.3. France
  - 13.4.1.4. U.K.
  - 13.4.1.5. Spain
  - 13.4.1.6. BENELUX
  - 13.4.1.7. Russia
  - 13.4.1.8. Rest of Europe
- 13.4.2. By End-Use
13.5. Market Attractiveness Analysis
- 13.5.1. By Country
- 13.5.2. By End-Use
13.6. Drivers and Restraints - Impact Analysis

14. East Asia Market Analysis 2019-2023 and Forecast 2024-2033

14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019-2023
14.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2033
- 14.4.1. By Country
  - 14.4.1.1. China
  - 14.4.1.2. Japan
  - 14.4.1.3. South Korea
- 14.4.2. By End-Use
14.5. Market Attractiveness Analysis
- 14.5.1. By Country
- 14.5.2. By End-Use
14.6. Drivers and Restraints - Impact Analysis

15. South Asia and Pacific Market Analysis 2019-2023 and Forecast 2024-2033

15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019-2023
15.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2033
- 15.4.1. By Country
  - 15.4.1.1. India
  - 15.4.1.2. ASEAN
  - 15.4.1.3. Australia & New Zealand
  - 15.4.1.4. Rest of South Asia and Pacific
- 15.4.2. By End-Use
15.5. Market Attractiveness Analysis
- 15.5.1. By Country
- 15.5.2. By End-Use
15.6. Drivers and Restraints - Impact Analysis

16. Middle East and Africa Market Analysis 2019-2023 and Forecast 2024-2033

16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019-2023
16.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2033
- 16.4.1. By Country
  - 16.4.1.1. GCC
  - 16.4.1.2. Turkey
  - 16.4.1.3. Northern Africa
  - 16.4.1.4. South Africa
  - 16.4.1.5. Rest of Middle East and Africa
- 16.4.2. By End-Use
16.5. Market Attractiveness Analysis
- 16.5.1. By Country
- 16.5.2. By End-Use
16.6. Drivers and Restraints - Impact Analysis

17. Country-wise Market Analysis

17.1. U.S. Market Analysis
- 17.1.1. By End-Use
17.2. Canada Market Analysis
- 17.2.1. By End-Use
17.3. Mexico Market Analysis
- 17.3.1. By End-Use
17.4. Brazil Market Analysis
- 17.4.1. By End-Use
17.5. Germany Market Analysis
- 17.5.1. By End-Use
17.6. Italy Market Analysis
- 17.6.1. By End-Use
17.7. France Market Analysis
- 17.7.1. By End-Use
17.8. UK Market Analysis
- 17.8.1. By End-Use
17.9. Spain Market Analysis
- 17.9.1. By End-Use
17.10. Russia Market Analysis
- 17.10.1. By End-Use
17.11. BENELUX Market Analysis
- 17.11.1. By End-Use
17.12. China Market Analysis
- 17.12.1. By End-Use
17.13. Japan Market Analysis
- 17.13.1. By End-Use
17.14. South Korea Market Analysis
- 17.14.1. By End-Use
17.15. India Market Analysis
- 17.15.1. By End-Use
17.16. ASEAN Market Analysis
- 17.16.1. By End-Use
17.17. Australia & New Zealand Market Analysis
- 17.17.1. By End-Use
17.18. GCC Countries Market Analysis
- 17.18.1. By End-Use
17.19. Turkey Market Analysis
- 17.19.1. By End-Use
17.20. Northern Africa Market Analysis
- 17.20.1. By End-Use
17.21. South Africa Market Analysis
- 17.21.1. By End-Use

18. Market Structure Analysis

18.1. Market Concentration by Top Players
18.2. Market Analysis by Tier of Companies
18.3. Market Share Analysis of Top Players
18.4. Apparent Production Capacity

19. Competition Analysis

19.1. Competition Dashboard
19.2. Competition Deep Dive (Company Profiles of Top 3 Indonesian Manufacturers)
- 19.2.1. PT Pupuk Sriwidjaja Palembang (PUSRI)
  - 19.2.1.1. Overview
  - 19.2.1.2. Product Portfolio
  - 19.2.1.3. Key Financials
  - 19.2.1.4. Recent Developments
  - 19.2.1.5. Strategy Overview
- 19.2.2. PT Pupuk Kujang
  - 19.2.2.1. Overview
  - 19.2.2.2. Product Portfolio
  - 19.2.2.3. Key Financials
  - 19.2.2.4. Recent Developments
  - 19.2.2.5. Strategy Overview
- 19.2.3. PT Pupuk Kalimantan Timur
  - 19.2.3.1. Overview
  - 19.2.3.2. Product Portfolio
  - 19.2.3.3. Key Financials
  - 19.2.3.4. Recent Developments
  - 19.2.3.5. Strategy Overview
19.3. Competition Deep Dive (Company Profiles of Top 3 Global Manufacturers)
- 19.3.1. Yara International ASA
  - 19.3.1.1. Overview
  - 19.3.1.2. Product Portfolio
  - 19.3.1.3. Key Financials
  - 19.3.1.4. Recent Developments
  - 19.3.1.5. Strategy Overview
- 19.3.2. Industries Qatar Q.P.S.C
  - 19.3.2.1. Overview
  - 19.3.2.2. Product Portfolio
  - 19.3.2.3. Key Financials
  - 19.3.2.4. Recent Developments
  - 19.3.2.5. Strategy Overview
- 19.3.3. SABIC
  - 19.3.3.1. Overview
  - 19.3.3.2. Product Portfolio
  - 19.3.3.3. Key Financials
  - 19.3.3.4. Recent Developments
  - 19.3.3.5. Strategy Overview
- 19.3.4. EuroChem Group
  - 19.3.4.1. Overview
  - 19.3.4.2. Product Portfolio
  - 19.3.4.3. Key Financials
  - 19.3.4.4. Recent Developments
  - 19.3.4.5. Strategy Overview
- 19.3.5. Nutrien Ltd
  - 19.3.5.1. Overview
  - 19.3.5.2. Product Portfolio
  - 19.3.5.3. Key Financials
  - 19.3.5.4. Recent Developments
  - 19.3.5.5. Strategy Overview
- 19.3.6. BASF SE
  - 19.3.6.1. Overview
  - 19.3.6.2. Product Portfolio
  - 19.3.6.3. Key Financials
  - 19.3.6.4. Recent Developments
  - 19.3.6.5. Strategy Overview
- 19.3.7. CF Industries Holdings, Inc.
  - 19.3.7.1. Overview
  - 19.3.7.2. Product Portfolio
  - 19.3.7.3. Key Financials
  - 19.3.7.4. Recent Developments
  - 19.3.7.5. Strategy Overview
- 19.3.8. OSTChem
  - 19.3.8.1. Overview
  - 19.3.8.2. Product Portfolio
  - 19.3.8.3. Key Financials
  - 19.3.8.4. Recent Developments
  - 19.3.8.5. Strategy Overview
- 19.3.9. China National Petroleum Corporation
  - 19.3.9.1. Overview
  - 19.3.9.2. Product Portfolio
  - 19.3.9.3. Key Financials
  - 19.3.9.4. Recent Developments
  - 19.3.9.5. Strategy Overview
- 19.3.10. PT Pupuk Sriwidjaja Palembang (PUSRI)
  - 19.3.10.1. Overview
  - 19.3.10.2. Product Portfolio
  - 19.3.10.3. Key Financials
  - 19.3.10.4. Recent Developments
  - 19.3.10.5. Strategy Overview
- 19.3.11. PT Pupuk Kujang
  - 19.3.11.1. Overview
  - 19.3.11.2. Product Portfolio
  - 19.3.11.3. Key Financials
  - 19.3.11.4. Recent Developments
  - 19.3.11.5. Strategy Overview
- 19.3.12. PT Pupuk Kalimantan Timur
  - 19.3.12.1. Overview
  - 19.3.12.2. Product Portfolio
  - 19.3.12.3. Key Financials
  - 19.3.12.4. Recent Developments
  - 19.3.12.5. Strategy Overview
- 19.3.13. PT Petrokimia Gresik
  - 19.3.13.1. Overview
  - 19.3.13.2. Product Portfolio
  - 19.3.13.3. Key Financials
  - 19.3.13.4. Recent Developments
  - 19.3.13.5. Strategy Overview
- 19.3.14. PT Pupuk Iskandar Muda (PT PIM)
  - 19.3.14.1. Overview
  - 19.3.14.2. Product Portfolio
  - 19.3.14.3. Key Financials
  - 19.3.14.4. Recent Developments
  - 19.3.14.5. Strategy Overview