Top 9 Companies in the Global Urea Market

Yara International ASA, Indian Farmers Fertilisers Cooperative Limited, PT Pupuk Kalimantan Timur, Qatar Fertilizer Company, National Fertilizers Limited, EuroChem Group AG, Saudi Arabian Fertilizer Company, CF Industries Holdings, Inc., and Nutrien Ltd., among others, are the major players in global urea market. 

The global urea market reached a volume of about 177.21 MMT in 2023. The market is projected to grow at a CAGR of 0.9% in the forecast period of 2024-2032. As per the analysis by Expert Market Research, the market is expected to be driven by the growing agriculture sector.

Urea, also known as carbamide, is a versatile compound widely utilised as a feed supplement, fertiliser, and precursor for medications and plastics. With a molecular formula of H2NCONH2, it is a colourless and odourless crystalline substance, soluble in both water and ethanol. Synthesised through a process involving ammonia and carbon dioxide under high pressure, urea forms solid white pellets or crystals, renowned for their stability and ease of handling. Its dry granular form facilitates application to soil via various equipment, ensuring prolonged effectiveness as a fertiliser without rapid degradation.

Urea serves as a prominent fertiliser owing to its abundant nitrogen content, a crucial nutrient vital for plant growth. With approximately 46% nitrogen by weight, it ranks among the most concentrated nitrogenous fertilisers available. Nitrogen plays a pivotal role in chlorophyll formation, facilitating photosynthesis, and is a key constituent of amino acids, fundamental to protein synthesis. Deprivation of nitrogen impedes plant growth, resulting in sluggish development and the potential for leaf discoloration and deterioration.

The urea market has witnessed remarkable growth and advancement in recent times, fuelled by several key factors. These include the extensive utility of technical grade urea, escalating demand from the automotive industry, and its widespread application in fertilisers. The Asia Pacific region stands as the market leader, boasting the highest production and consumption rates, notably spearheaded by China and India. Government initiatives offering subsidies to support farmers in the region serve as additional catalysts propelling urea market growth. 

In April 2022, OCI's Beaumont facility, under Amsterdam-based OCI N.V., planned a nearly USD 5 billion expansion, as indicated by documents filed with the Texas comptroller’s office. This initiative, alongside a parallel submission by OCI Clean Ammonia LLC and OCI Fuels USA Inc., aimed to expand the East Texas complex. These projects developed simultaneously and adjacent to OCI Beaumont LLC, shared project boundaries, signifying a coordinated approach to development within the Beaumont ISD.

Top 9 Urea Companies in the World:

Yara International ASA

Yara is committed to a sustainable future, striving for growth while promoting eco-friendly crop nutrition and emissions-free energy solutions. With a focus on digital farming tools and collaboration across the food value chain, Yara aims to enhance the efficiency and sustainability of food production. Their emphasis on clean ammonia production aligns with efforts to drive a green transition in shipping and fertiliser production. Established in 1905 to address famine, Yara operates globally with 17,500 employees and reported revenues of USD 24.1 billion in 2022, maintaining a strong track record of returns.

Indian Farmers Fertilisers Cooperative Limited

IFFCO, India's largest cooperative society established in 1967, now comprises over 36,000 Indian cooperatives, catering to diverse sectors like General Insurance and Rural Telecom alongside fertiliser production and sales. With an extensive marketing network spanning 36,000 cooperative societies, IFFCO serves over 55 million farmers in India, even in remote and challenging terrains. Its global impact is evident through joint ventures such as JIFCO in Jordan, KIT in Dubai, OMIFCO in Oman, and ICS in Senegal, showcasing its commitment to agricultural development beyond national borders.

PT Pupuk Kalimantan Timur

PT Pupuk Kalimantan Timur (Pupuk Kaltim), Indonesia's leading urea and ammonia manufacturer, boasts an annual production capacity of 3.4 million tons of urea, 2.7 million tons of ammonia, and 350 thousand tons of NPK fertiliser. With a focus on customer service excellence, Pupuk Kaltim emphasises timely delivery, precise quantities, types, locations, qualities, and prices. The company prioritises Good Corporate Governance (GCG) to enhance business success and accountability while championing Corporate Social Responsibility (CSR). Backed by skilled human resources and over 30 years of experience, Pupuk Kaltim aims for sustainable progress aligned with business growth.

Qatar Fertilizer Company

Established in 1969 through a partnership between the Qatari government and foreign stakeholders, QAFCO has grown into a premier fertiliser producer. Initially created to diversify Qatar's economy and leverage its abundant gas reserves, QAFCO now operates as part of Industries Qatar (IQ). With six top-tier plants, QAFCO annually produces 3.8 million MT of ammonia and 5.6 million MT of urea, securing its position as the world's largest single-site urea exporter. Committed to safety, efficiency, and environmental responsibility, QAFCO aspires to become the leading global urea producer by 2030, advancing sustainability initiatives.

National Fertilizers Limited

Established in 1974, NFL stands as India's leading CPSE in the Fertilizer Sector, with a turnover exceeding Rs. 90 billion. With a capacity of 35.68 Lakh MT, it ranks as the nation's second-largest urea producer, contributing 16% to the total urea production. NFL operates five gas-based Ammonia-Urea plants across Punjab, Haryana, and Madhya Pradesh, alongside a Bio-fertilisers unit. Renowned for its 'KISAN' brand, NFL also ventures into certified seed production and agro-input trading. Additionally, it collaborates on a JV for a cutting-edge Urea Plant and plans global expansions.

EuroChem Group AG

EuroChem, a global leader in plant nutrition, has been providing essential nutrients to farmers worldwide for over 20 years. With a focus on sustainability, the mineral-based products enhance crop yields, ensuring food security for over 250 million people, even in developing regions. Headquartered in Zug, Switzerland, the company offers a comprehensive range of fertilisers and industrial products, supported by production facilities across four continents. With abundant reserves of key ingredients like potash and phosphate rock, as well as access to natural gas, the company remains committed to helping farmers improve crop quality and yield.

Saudi Arabian Fertilizer Company

Established in 1965 under Royal Decree, SABIC Agri-Nutrients Company, formerly known as Saudi Arabian Fertilizer Company (SAFCO), was the first petrochemical firm in Saudi Arabia. Initially a joint venture between the government and citizens, it has since grown significantly, with its capital reaching SR 4,760,354,040 million. SABIC holds a majority stake of 50.1%, with the remaining 49.9% owned by the private sector and the public.

CF Industries Holdings, Inc.

CF Industries, headquartered in Northbrook, Illinois, aims to supply clean energy for sustainable global food and fuel needs. With manufacturing hubs in the US, Canada, and the UK, along with a robust storage and distribution network in North America, the company focuses on safe operations and environmental responsibility. Their strategy involves decarbonising their ammonia production, enabling green and blue hydrogen, and nitrogen products. This transition aligns with their mission to accelerate the world's shift to clean energy while continuing to support global agriculture with clean nitrogen fertiliser.

Nutrien Ltd.

Nutrien, a global leader in crop nutrients, offers potash, nitrogen, and phosphate to enhance crop yields worldwide. With retail operations spanning seven countries and a history spanning nearly 50 years, Nutrien serves growers through 1,500 locations and 3,300 crop advisors. Innovation drives their commitment to providing top-quality products and solutions, ensuring sustainable agricultural practices. Operating with a long-term perspective, Nutrien prioritises economic, environmental, and social goals. Their integrated portfolio supports stable earnings, growth, and shareholder returns, reflecting their purpose of "Feeding the Future" by advancing agriculture sustainably.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.