Report Update Apr 20, 2024

World - Urea - Market Analysis, Forecast, Size, Trends and Insights

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Global Urea Market 2024

Urea Market Size

In 2023, after two years of growth, there was significant decline in the global urea market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the peak level at $X in 2022, and then reduced in the following year.

Urea Production

In value terms, urea production rose sharply to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, global production growth failed to regain momentum.

Urea Exports

Exports

In 2023, after five years of growth, there was significant decline in shipments abroad of urea, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The global exports peaked at X tons in 2022, and then declined in the following year.

In value terms, urea exports declined notably to $X in 2023. In general, exports, however, recorded measured growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the global exports reached the maximum at $X in 2022, and then fell markedly in the following year.

Exports by Country

The biggest shipments were from Russia (X tons), China (X tons), Saudi Arabia (X tons), Oman (X tons), Egypt (X tons), Nigeria (X tons), Algeria (X tons), Iran (X tons), the United Arab Emirates (X tons), Malaysia (X tons), Indonesia (X tons) and the Netherlands (X tons), together resulting at X% of total export. Germany (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Nigeria (with a CAGR of X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($X), Saudi Arabia ($X) and Algeria ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of global exports. Egypt, China, Oman, the United Arab Emirates, Nigeria, Iran, Indonesia, Malaysia, the Netherlands and Germany lagged somewhat behind, together comprising a further X%.

Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average urea export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, continues to indicate a modest increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The global export price peaked at $X per ton in 2022, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Algeria ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Algeria (X%), while the other global leaders experienced more modest paces of growth.

Urea Imports

Imports

After four years of growth, overseas purchases of urea decreased by X% to X tons in 2023. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X%. Global imports peaked at X tons in 2022, and then contracted in the following year.

In value terms, urea imports shrank notably to $X in 2023. Over the period under review, imports, however, saw perceptible growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, global imports hit record highs at $X in 2022, and then reduced remarkably in the following year.

Imports by Country

India (X tons) and Brazil (X tons) represented the main importers of urea in 2023, amounting to approx. X% and X% of total imports, respectively. It was followed by the United States (X tons), Turkey (X tons), Australia (X tons) and Thailand (X tons), together mixing up a X% share of total imports. France (X tons), Italy (X tons), Poland (X tons), Mexico (X tons), Canada (X tons), Spain (X tons) and the Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Poland (with a CAGR of X%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest urea importing markets worldwide were India ($X), Brazil ($X) and the United States ($X), together accounting for X% of global imports. Turkey, Australia, Thailand, France, Italy, Canada, Poland, Mexico, Spain and the Philippines lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average urea import price stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2022, and then shrank dramatically in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Canada ($X per ton) and Italy ($X per ton), while Australia ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the global urea market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4001 - Urea

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

Global market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Global production, split by region and country
Global trade (exports and imports)
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Company coverage:

Acron Group, BASF SE, BIP (Oldbury) Ltd., EuroChem, Jiangsu Sanmu Group, Koch Fertilizer LLC, CF Industries, Nutrien, Iowa Fertilizer, OCI Nitrogen, Petrobras, Qatar Fertiliser Company, SABIC, Fauji Fertilizer Company Ltd., Sinochem, Hubei Xinyangfeng Fertilizer, Wengfu Group, Lenan Xinlianxin, Luxi Chemical Group, China BlueChemical Ltd., Anhui Liuguo Chemical Co. Ltd, Sichuan Chemical Co., Indo Gulf Corporation Ltd.

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023