Report Update May 8, 2024

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

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Global Urea Market 2024

Urea Market Size

After two years of growth, the global urea market decreased by X% to $X in 2023. Overall, consumption continues to indicate a abrupt decrease. Over the period under review, the global market attained the peak level at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Urea Production

In value terms, urea production amounted to $X in 2023 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, global production growth remained at a somewhat lower figure.

Urea Exports

Exports

In 2023, shipments abroad of urea decreased by X% to X tons, falling for the second year in a row 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 consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the global exports remained at a lower figure.

In value terms, urea exports declined notably to $X in 2023. Over the period under review, exports, however, posted a notable increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the global exports attained the peak figure at $X in 2022, and then dropped rapidly in the following year.

Exports by Country

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), Malaysia (X tons), the United Arab Emirates (X tons), Indonesia (X tons) and the Netherlands (X tons) represented roughly X% of total exports in 2023. Germany (X tons) took a relatively small share of total exports.

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, together accounting for X% 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%, saw the highest rates of growth with regard to 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, which is down by X% against the previous year. Over the period under review, the export price, however, showed a slight expansion. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The global export price peaked at $X per ton in 2022, and then contracted remarkably 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

In 2023, after four years of growth, there was significant decline in supplies from abroad of urea, when their volume decreased by X% to X tons. 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 when imports increased by X%. Global imports peaked at X tons in 2022, and then contracted in the following year.

In value terms, urea imports shrank remarkably to $X in 2023. Overall, imports, however, showed a perceptible increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, global imports hit record highs at $X in 2022, and then dropped significantly in the following year.

Imports by Country

In 2023, India (X tons) and Brazil (X tons) represented the key importers of ureain the world, together resulting at approx. X% of total imports. The United States (X tons) held the next position in the ranking, followed by Turkey (X tons), Australia (X tons) and Thailand (X tons). All these countries together took near 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) held a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Poland (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, India ($X), Brazil ($X) and the United States ($X) constituted the countries with the highest levels of imports in 2023, 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%.

Among the main importing countries, Poland, with a CAGR of X%, recorded 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

In 2023, the average urea import price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2022, and then contracted 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