Global Urea Market Research Report 2024

Urea Market

Urea, also known as carbamide, is an organic compound with chemical formula CO(NH2)2. This amide has two –NH2 groups joined by a carbonyl (C=O) functional group.

The global Urea market was valued at US$ 75110 million in 2023 and is anticipated to reach US$ 116010 million by 2030, witnessing a CAGR of -0.8% during the forecast period 2024-2030.

Urea serves an important role in the metabolism of nitrogen-containing compounds by animals and is the main nitrogen-containing substance in the urine of mammals. It is a colorless, odorless solid, highly soluble in water, and practically non-toxic (LD50 is 15 g/kg for rats). Dissolved in water, it is neither acidic nor alkaline. The body uses it in many processes, most notably nitrogen excretion. The liver forms it by combining two ammonia molecules (NH3) with a carbon dioxide (CO2) molecule in the urea cycle. Urea is widely used in fertilizers as a source of nitrogen and is an important raw material for the chemical industry.

Urea Market Share

Global urea key players include QAFCO, Yara, KOCH, SABIC, OCI, etc. Global top 5 players hold a share about 20%.

China is the largest market, with a share about 25%, followed by Europe and North America, having a total share about 30 percent.

In terms of product, large granule urea is the largest segment, with a share about 76%. And in terms of application, the largest application is agriculture, followed by industry.

Urea Industry Insights

A report titled, “Global Urea Market Outlook 2022” has been recently published by QY Research. The dedicated analysts and researchers have carried out deep-seated research to put forth the present and future scenario of the Urea market. They have provided an in-depth review with accuracy and reliability to give the readers an overall picture.

Key Drivers & Barriers

High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

Post Covid-19 Outlook

The readers in the section will understand how the Urea market scenario changed across the globe during the pandemic and post-pandemic. The study is done keeping in view the changes in aspects such as production, demand, consumption, supply chain. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.

Segmental Outlook

Key segments including type, and application have been elaborated in this report. The consultants at QY Research have studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows production and revenue data by type, and application during the historical period (2016-2021) and forecast period (2022-2027).

By Type

• Granular Urea
• Prilled Urea

By Application

• Agriculture
• Industrial

Regional Outlook

This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and production data of each region and country for the period 2016-2027. This information derived through comprehensive research will help the reader to get familiar with the potential value of the investment in a particular region. North America, Europe, China, Saudi Arabia and Qatar are the major regions studied in the research report.

Competitive Scenario

In this section, the readers will gain an understanding of the key players competing. The experts at QY Research have studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and production by manufacturers for the period 2016-2021. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses.

Key Players

• QAFCO
• Yara
• KOCH
• SABIC
• OCI
• Nutrien
• EuroChem
• Group DF
• Hubei Yihua Chemical Industry
• Rui Xing Group
• Huajin Chemical Industries
• Hualu-hengsheng
• Sichuan Lutianhua
• Lanhua Sci-tech
• Yangmei Chemical
• CF Industries
• Shanxi Tianze
• Zhonghai
• Henan Xinlianxin Chemicals Group Co., Ltd.
• China Coal Energy Company Limited
• CNPC
• Yunnan Yuntianhua
• Yuanxing

Scope of Urea Market Report