The global Urea Market size was estimated at USD 80,450 million in 2023 and is projected to reach USD 99,753.1 million in 2030 at a CAGR of 3.12 % during the forecast period 2024-2030.
The urea market refers to the global demand and supply of urea, a nitrogenous fertilizer widely used in agriculture to enhance crop yields. Urea is also utilized in industrial applications such as the production of resins, plastics, and adhesives, and as a raw material for the manufacturing of diesel engine emissions reduction systems. The market is influenced by factors such as the growing demand for food, the need for higher agricultural productivity, and the increasing application of urea in diverse industrial sectors. It plays a crucial role in global food security, as it is one of the most cost-effective fertilizers for enhancing soil fertility and promoting plant growth.
The scope of the urea market is vast, encompassing agricultural, industrial, and automotive sectors. In agriculture, urea serves as a key fertilizer for staple crops such as wheat, rice, corn, and barley, which are crucial for feeding the growing global population. The industrial use of urea extends to its role in the production of melamine and various chemicals, while the automotive industry utilizes urea in selective catalytic reduction (SCR) systems to reduce nitrogen oxide emissions in diesel engines. With the ongoing focus on sustainable farming practices and cleaner industrial processes, urea's market scope is likely to expand, especially in regions like Asia-Pacific, North America, and Europe.
Several key trends are shaping the urea market, including the increasing adoption of advanced farming technologies, the rising focus on sustainable agriculture, and the development of more efficient urea production methods. Precision farming techniques, such as the use of drones and sensors for efficient fertilizer application, are driving demand for high-quality urea products. Furthermore, innovations in urea production processes, such as the development of granular and coated urea, are helping to reduce environmental impact and improve nutrient efficiency. Growing awareness about the environmental consequences of excessive fertilizer use is pushing for solutions that reduce urea wastage and promote its sustainable use.
Key drivers of the urea market include the rising global population, which increases the demand for food and, in turn, for fertilizers. The expansion of agriculture in emerging economies, coupled with higher income levels and changing dietary patterns, are also fueling urea demand. Additionally, government policies and subsidies that encourage agricultural productivity, particularly in developing regions, are contributing to market growth. Environmental concerns, however, are pushing for cleaner production techniques and the development of alternative fertilizers, which could impact the urea market in the long term, making efficiency and sustainability key drivers of its future growth.
Experts in the Urea Market highlight several key trends driving growth and innovation. The urea market is driven by its widespread use as a nitrogenous fertilizer in agriculture, as well as its applications in various industrial sectors, including automotive and chemicals. With the growing global population and demand for food, urea plays a critical role in boosting agricultural productivity. Trends like precision farming, advancements in urea production methods, and a focus on sustainability are shaping the market. Key drivers include the expansion of agriculture in emerging economies, government policies supporting food production, and increasing awareness of environmental concerns. These factors combined ensure that the urea market will continue to grow, although challenges around efficiency and sustainability may influence its future trajectory.
Asia-Pacific to Dominate the Market
Asia Pacific is emerging as the largest and the fastest-growing market for urea, driven by a rapidly expanding population and urbanization. This region is home to some of the world's largest agricultural producers, increasing the demand for urea-based fertilizers. As the global population grows, the need for enhanced food production intensifies, prompting a significant demand for innovative solutions to boost crop yields and ensure food security. Urea, with its high nitrogen content (46%), plays a vital role in providing essential nutrients like nitrogen, phosphorus, and potassium, crucial for plant growth. As a result, it remains a preferred fertilizer for farmers looking to improve soil fertility and increase crop production. With higher agricultural activity in countries like India and China and their economic growth, the demand for urea is expected to rise. Additionally, the region’s growing automotive industry, driven by strict emission regulations, is boosting the use of urea-based technologies, such as diesel exhaust fluid (DEF) in selective catalytic reduction (SCR) systems for nitrogen oxide reduction. These factors collectively ensure the continued growth of the urea market in Asia-Pacific.
|
Report Feature |
Descriptions |
|---|---|
|
Growth Rate |
CAGR of 3.12% during the forecasting period, 2024-2030 |
|
Historical Data |
2020-2022 |
|
Forecast Years |
2024-2030 |
|
Base Year |
2023 |
|
Units Considered |
Revenue in USD million and CAGR from 2024 to 2030 |
|
Report Segmentation |
Product Type, Grade, Technology, Application, End-use Industry and Region. |
|
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
|
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East, and Africa |
|
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, and South Africa (50+ Countries Across the Globe) |
|
Companies Profiled |
CF Industries Holdings, Inc., Pupuk Indonesia (Persero), Yara International ASA, Sabic, OCI, Nutrien, Eurochem Group, Qatar Fertilizer Company, BASF SE, CNPC, IFFCO, American Plant Food Corporation, Greenway Biotech, Inc., GAC Chemical Corporation, Ravensdown, Vinipul Inorganics Pvt. Ltd., Gujarat State Fertilizers & Chemicals Limited (GSFC), Group DF, Fertiberia, Kanto Chemical Co., Inc., Dubi Chem Marine International, PT Pupuk Sriwidjaja Palembang (PUSRI), JSC Togliattiazot (TOAZ), Anmol Chemicals Private Limited, Greenstar Fertilizers Limited, Matix Fertilisers and Chemicals Limited, Koch Fertilizer, LLC. |
|
Available Customization |
In addition to the market data for the Urea Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements. |
The Urea Market is segmented into various segments such as Product Type, Grade, Technology, Application, End-use Industry and Region.
Based on Grade
Based on Application
Based on End-Use Industry
Based on Product Type
Based on Technology
Based on region
The prominent players in the Urea Market are
.png)
.png)
.png)
.png)
.png)
.png)