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Urea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

September 2023 | 141 pages | ID: UE2A80A81859EN
IMARC Group

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Global Urea Market Outlook 2023-2028:

The global urea market size reached US$ 50.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 57.0 Billion by 2028, exhibiting a growth rate (CAGR) of 1.8% during 2023-2028. The increasing demand for food and crops, rising sales of vehicles, and the growing usage in the production of medical drugs represent some of the key factors driving the market.

Urea (?CH4N2O), also known as carbamide, is a colorless, odorless, and crystalline substance soluble in water and ethanol. It is a stable compound composed of carbon, nitrogen, oxygen, and hydrogen. It is generally synthesized by combining ammonia with carbon dioxide (CO2) under high pressure to obtain solid odorless white pellets or crystals. It is a dry granular substance that is easy to handle and transport. It can be applied to the soil using various equipment, such as spreaders and sprayers. It does not break down easily and is stored for a long period without losing its effectiveness as a fertilizer.

Global Urea Market Trends:
The growing global population and consequently surging need for food represent one of the major factors driving the demand for CH4N2O to improve soil fertility and crop production around the world. Moreover, declining arable land, rising food security concerns, and the growing awareness about the harmful effects of chemical-based fertilizers are catalyzing the need for eco-friendly solutions, including CH4N2O to improve crop yield. This, coupled with the shifting consumer preferences for organic food products and significant growth in the agricultural sector, is favoring the growth of the market. Besides this, the rising need for efficient cattle feed supplements is strengthening the growth of the market. In addition, CH4N2O is employed in the automotive industry to reduce nitrogen oxide emissions from diesel engines and meet emission regulations. It is also used in the exhaust systems and tanks of diesel-powered vehicles to remove nitrogen oxide from the exhaust. This, along with the increasing sales of vehicles on account of rapid urbanization and inflating income levels, is propelling the growth of the market. Furthermore, the rising use of CH4N2O in various medical treatments like hemodialysis to remove excess fluids and waste products from the blood of patients with kidney failure is contributing to the market growth. Apart from this, the growing utilization of CH4N2O in the manufacturing of medical drugs and ointments to treat skin conditions like psoriasis, eczema, and calluses is influencing the market positively. Additionally, the increasing usage of CH4N2O in the production of other chemicals, such as adhesives, resins, melamine, and explosives, is creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global urea market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on grade, application and end-use industry.

Grade Insights:

Fertilizers Grade
Feed Grade
Technical Grade

The report has provided a detailed breakup and analysis of the urea market based on the grade. This includes fertilizers grade, feed grade, and technical grade. According to the report, technical grade represented the largest segment.

Application Insights:

Nitrogenous Fertilizer
Stabilizing Agent
Keratolyte
Resin
Others

A detailed breakup and analysis of the urea market based on the application has also been provided in the report. This includes nitrogenous fertilizers, stabilizing agents, keratolytes, resins and others. According to the report, nitrogenous fertilizer accounted for the largest market share.

End-Use Industry Insights:

Agriculture
Chemical
Automotive
Medical
Others

The report has provided a detailed breakup and analysis of the urea market based on the grade. This includes agriculture, chemical, automotive, medical and others. According to the report, agriculture represented the largest segment.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) was the largest market for urea. Some of the factors driving the Asia Pacific urea market included rising food security concerns, government initiatives, development in the agriculture sector, etc.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global urea market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Acron Group, BASF SE, BIP (Oldbury) Limited, EuroChem, Jiangsu Sanmu Group Co. Ltd., Koch Fertilizer LLC, OCI N.V, Petrobras, Qatar Fertiliser Company, SABIC, Yara International ASA, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global urea market in 2022?
2. What is the expected growth rate of the global urea market during 2023-2028?
3. What are the key factors driving the global urea market?
4. What has been the impact of COVID-19 on the global urea market?
5. What is the breakup of the global urea market based on the grade?
6. What is the breakup of the global urea market based on the application?
7. What is the breakup of the global urea market based on the end-use industry?
8. What are the key regions in the global urea market?
9. Who are the key players/companies in the global urea market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
  2.3.1Primary Sources
  2.3.2Secondary Sources
2.4Market Estimation
  2.4.1Bottom-Up Approach
  2.4.2Top-Down Approach
2.5Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1Overview
4.2Key Industry Trends

5 GLOBAL UREA MARKET

5.1Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Forecast

6 MARKET BREAKUP BY GRADE

6.1Fertilizers Grade
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2Feed Grade
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3Technical Grade
  6.3.1 Market Trends
  6.3.2 Market Forecast

7 MARKET BREAKUP BY APPLICATION

7.1Nitrogenous Fertilizer
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2Stabilizing Agent
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3Keratolyte
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4Resin
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5Others
  7.5.1 Market Trends
  7.5.2 Market Forecast

8 MARKET BREAKUP BY END-USE INDUSTRY

8.1Agriculture
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2Chemical
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3Automotive
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4Medical
  8.4.1 Market Trends
  8.4.2 Market Forecast
8.5Others
  8.5.1 Market Trends
  8.5.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2Asia Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1Overview
10.2Strengths
10.3Weaknesses
10.4Opportunities
10.5Threats

11 VALUE CHAIN ANALYSIS

11.1Overview
11.2Inbound Logistics
11.3Operations
11.4Outbound Logistics
11.5Marketing and Sales
11.6Service

12 PORTERS FIVE FORCES ANALYSIS

12.1Overview
12.2Bargaining Power of Buyers
12.3Bargaining Power of Suppliers
12.4Degree of Competition
12.5Threat of New Entrants
12.6Threat of Substitutes

13 PRICE INDICATORS

14 COMPETITIVE LANDSCAPE

14.1Market Structure
14.2Key Players
14.3Profiles of Key Players
  14.3.1Acron Group
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
  14.3.2BASF SE
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
    14.3.2.3 Financials
    14.3.2.4 SWOT Analysis
  14.3.3BIP (Oldbury) Limited
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
  14.3.4EuroChem
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
  14.3.5Jiangsu sanmu group Co. Ltd.
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
  14.3.6Koch Fertilizer LLC
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
  14.3.7OCI N.V
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
    14.3.7.3 Financials
  14.3.8Petrobras
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
    14.3.8.3 Financials
    14.3.8.4 SWOT Analysis
  14.3.9Qatar Fertiliser Company
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
  14.3.10SABIC
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
    14.3.10.3 Financials
    14.3.10.4 SWOT Analysis
  14.3.11Yara International ASA
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio
    14.3.11.3 Financials
    14.3.11.4 SWOT Analysis

LIST OF TABLES

Table 1: Global: Urea Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Urea Market Forecast: Breakup by Grade (in Million US$), 2023-2028
Table 3: Global: Urea Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: Urea Market Forecast: Breakup by End-Use Industry (in Million US$), 2023-2028
Table 5: Global: Urea Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Urea Market: Competitive Structure
Table 7: Global: Urea Market: Key Players

LIST OF FIGURES

Figure 1: Global: Urea Market: Major Drivers and Challenges
Figure 2: Global: Urea Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Urea Market: Breakup by Grade (in %), 2022
Figure 4: Global: Urea Market: Breakup by Application (in %), 2022
Figure 5: Global: Urea Market: Breakup by End-Use Industry (in %), 2022
Figure 6: Global: Urea Market: Breakup by Region (in %), 2022
Figure 7: Global: Urea Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Urea (Fertilizers Grade) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Urea (Fertilizers Grade) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Urea (Feed Grade) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Urea (Feed Grade) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Urea (Technical Grade) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Urea (Technical Grade) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Urea (Nitrogenous Fertilizer) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Urea (Nitrogenous Fertilizer) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Urea (Stabilizing Agent) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Urea (Stabilizing Agent) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Urea (Keratolyte) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Urea (Keratolyte) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Urea (Resin) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Urea (Resin) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Urea (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Urea (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Urea (Agriculture) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Urea (Agriculture) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Urea (Chemical) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Urea (Chemical) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Urea (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Urea (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: Urea (Medical) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: Urea (Medical) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: Urea (Other Industries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: Urea (Other Industries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: North America: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: North America: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: United States: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: United States: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Canada: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Canada: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Asia Pacific: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Asia Pacific: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: China: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: China: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Japan: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Japan: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: India: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: India: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: South Korea: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: South Korea: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Australia: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Australia: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Indonesia: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Indonesia: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Others: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Others: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Europe: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Europe: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Germany: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Germany: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: France: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: France: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: United Kingdom: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: United Kingdom: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Italy: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Italy: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Spain: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Spain: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Russia: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Russia: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Others: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Others: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Latin America: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Latin America: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Brazil: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Brazil: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Mexico: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Mexico: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Others: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: Others: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: Middle East and Africa: Urea Market: Sales Value (in Million US$), 2017 & 2022
Figure 81: Middle East and Africa: Urea Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Global: Urea Industry: SWOT Analysis
Figure 83: Global: Urea Industry: Value Chain Analysis
Figure 84: Global: Urea Industry: Porter’s Five Forces Analysis


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