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Report World - Urea - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update May 13, 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. Overall, consumption showed a abrupt contraction. Global consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Urea Production

In value terms, urea production expanded remarkably to $X in 2023 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. 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, overseas shipments of urea decreased by X% to X tons, falling for the second consecutive year after four years of growth. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the global exports remained at a somewhat lower figure.

In value terms, urea exports shrank significantly to $X in 2023. In general, exports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the global exports attained the maximum at $X in 2022, and then reduced sharply 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), Algeria (X tons), Nigeria (X tons), Iran (X tons), Malaysia (X tons), the United Arab Emirates (X tons), Indonesia (X tons) and the Netherlands (X tons), together finishing at X% of total export. Germany (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Nigeria (with a CAGR of X%), while the other global leaders experienced more modest paces of growth.

In value terms, Russia ($X), Saudi Arabia ($X) and Algeria ($X) appeared to be 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 accounting for a further X%.

Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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

The average urea export price stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the export price, however, saw a mild increase. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2022, and then contracted notably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, 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% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of X%. Global imports peaked at X tons in 2022, and then declined in the following year.

In value terms, urea imports dropped rapidly to $X in 2023. In general, imports, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, global imports reached the peak figure at $X in 2022, and then plummeted in the following year.

Imports by Country

India (X tons) and Brazil (X tons) were the key importers of urea in 2023, reaching approx. X% and X% of total imports, respectively. The United States (X tons) ranks next in terms of the total imports with an X% share, followed by Turkey (X%), Australia (X%) and Thailand (X%). The following importers - France (X tons), Italy (X tons), Poland (X tons), Mexico (X tons), Canada (X tons), Spain (X tons) and the Philippines (X tons) - together made up X% of total imports.

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), with a combined X% share of global imports. Turkey, Australia, Thailand, France, Italy, Canada, Poland, Mexico, Spain and the Philippines lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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, reducing by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2022, and then fell markedly 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 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. 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. 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. 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

  12. 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

  13. 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

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