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The global urea market demand reached a volume of nearly 187.8 million metric tons in 2020. The demand is expected to grow at a CAGR of 2% between 2021 and 2026.
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By 2026, the global demand is projected to attain 211.5 million metric tons. The most dominant application sector is the fertilizer segment, accounting for over 80% of the global consumption of urea.
The Asia Pacific is the major supply market, accounting for almost 60% of the global urea market share. The demand rate in the region is expected to stand at a CAGR of 2.2% in the forecast period. The healthy growth in the region owes to the growing demand from India and Thailand for traditional fertilisers. Within the Asia Pacific region, China is the largest producer as well as consumer of urea. India follows China as the second-largest consumer market. China is also the net exporter of urea, exporting majorly to India and North America. Although most of the exporters are from gas-rich countries, China is a significant exporter due to its rich coal supply, which is a feedstock of the product. Unlike China, which is a self-sufficient urea market, India imports the product in order to meet the regional demand. India is among the top importers of urea globally, accounting for over 15% of the total imports. Other than China, Indonesia, and Pakistan export the product to meet the domestic demand within the region. The other major importing countries in the region include South Korea and Thailand.
North America, another significant urea market, is expected to expand its capacity, which would reduce the region’s reliance on imports. There are multiple projects proposed in order to expand the capacity and, thus, the supply in the region. The demand for the product in North America is higher than the global market growth rate. The growing demand can also be attributed to the increasing economy in the region.
Urea also referred to as carbamide, is a carbonic acid diamide with the formula H2NCONH2. It has important applications as a feed supplement and fertilizers. It is also used as a starting product for the production of medications and plastics. It is a transparent and crystalline material that melts at a temperature of 132.7 ° C (271 ° F) and decays before boiling. It has wide applications in the following segments:
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The EMR report also covers the regional urea markets like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The growing agriculture sector is driving the global urea market growth. Urea and its derivatives are widely used as fertilisers in most of the markets, including North America, Brazil, and India. The growing demand for N-fertilisers is providing a push to the growing demand for the product in the market. Thus, the rising fertilizer market, as well as nitrogen application, is driving the urea market growth further.
China has abundant sources of coal, an important feedstock for urea production, and the Chinese coal prices support the growth of urea production in the region. The developing countries, like the South Asian and Latin American countries, are likely to have an increased demand for the product as compared to other regions due to the increasing consumption of the product in these countries. Urea also acts as a vital feedstock in the production of adhesives, resins, plastics, etc. Thus, the growth of the markets of these products significantly supports the growth of the urea market. The product is also being increasingly used in automobiles due to the changing regulations regarding the use of nitrogen oxide in diesel engines, which is propelling the urea market further. The product is also used abundantly to produce urea-formaldehyde resins, melamine, diesel exhaust fluids, and livestock feed, and their growing demand is supporting the growth of the industry.
The report gives a detailed analysis of the following key players in the global urea market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter’s five forces model, along with giving a SWOT analysis. The report also provides the price analysis and trade data for the market.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Region|
|Breakup by Application||Fertilizer, Urea Formaldehyde (UF) & Melamine Resins, Melamine (Cyanurates), Animal Feed, Others|
|Breakup by Region||North America, Latin America, Europe, Middle East and Africa, Asia Pacific|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Trade Data Analysis||Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume|
|Price Analysis||Historical and Forecast Price Trends-Regional|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Yara International ASA, Qatar Fertiliser Company (QAFCO), PT Pupuk Kaltim,
Indian Farmers Fertiliser Cooperative Ltd. (IFFCO), CF Industries Holdings, Inc.,
Nutrien Ltd., National Fertilizers Ltd (NFL), Saudi Arabian Fertilizer Company (SAFCO), Engro Corporation Limited, Others
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.5 Market Models
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Urea Market Analysis
6.1 Figure: Global Urea Historical Market (2016-2020) & Forecast (2021-2026)
6.2 Chart: Global Urea Market Breakup by Application
6.2.2 Urea Formaldehyde (UF) & Melamine Resins
6.2.3 Melamine (Cyanurates)
6.2.4 Animal Feed
6.3 Figure: Global Urea Market Breakup by Application: Historical Market (2016-2020) & Forecast (2021-2026)
6.3.2 Urea Formaldehyde (UF) & Melamine Resins
6.3.3 Melamine (Cyanurates)
6.3.4 Animal Feed
6.4 Chart: Global Urea Market Breakup by Region
6.4.1 North America
220.127.116.11 United States of America
18.104.22.168 United Kingdom
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
6.5 Figure: Global Urea Market Breakup by Region: Historical Market (2016-2020) & Forecast (2021-2026)
6.5.1 North America
184.108.40.206 United States of America
220.127.116.11 United Kingdom
6.5.3 Asia Pacific
6.5.4 Latin America
6.5.5 Middle East and Africa
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
7 Global Urea Price Analysis
7.1 North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.2 Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.3 Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.4 Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.5 Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
8 Global Trade Data Analysis (HS Code: 310210)
8.1 Major Exporting Countries: By Value and Volume
8.2 Major Importing Countries: By Value and Volume
9 SWOT Analysis
10 Porter’s Five Forces Analysis
10.2 Buyer’s Power
10.3 Supplier’s Power
10.4 New Entrants
10.5 Degree of Rivalry
11 Value Chain Analysis
12 EMR’s Key Indicators for Demand
13 EMR’s Key Indicators for Price
14 Cost Analysis
14.1 Raw Material Cost
14.2 Freight & Handling
14.3 Others Cost
15 Competitive Landscape & Supplier Analysis
15.1 Yara International ASA
15.1.1 Company Overview
15.1.2 Financial Analysis
15.2 Qatar Fertiliser Company (QAFCO)
15.2.1 Company Overview
15.2.2 Financial Analysis
15.3 PT Pupuk Kaltim
15.3.1 Company Overview
15.3.2 Financial Analysis
15.4 Indian Farmers Fertiliser Cooperative Ltd. (IFFCO)
15.4.1 Company Overview
15.4.2 Financial Analysis
15.5 CF Industries Holdings, Inc.
15.5.1 Company Overview
15.5.2 Financial Analysis
15.6 Nutrien Ltd.
15.6.1 Company Overview
15.6.2 Financial Analysis
15.7 National Fertilizers Ltd (NFL)
15.7.1 Company Overview
15.7.2 Financial Analysis
15.8 Saudi Arabian Fertilizer Company (SAFCO)
15.8.1 Company Overview
15.8.2 Financial Analysis
15.9 Engro Corporation Limited
15.9.1 Company Overview
15.9.2 Financial Analysis
16 Industry Events and Developments
Additional Customisations Available:
17 Manufacturing Process
17.1 Detailed Process Flow
17.2 Operations Involved
17.3 Mass Balance
In 2020, the global urea market attained a volume of nearly 187.8 million metric tons.
The market is projected to grow at a CAGR of 2% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach 211.5 million metric tons by 2026.
The major drivers of the industry include expanding agriculture sector, increased demand for fertilisers, rising population, rising disposable incomes, availability of feedstock for urea production and low prices.
The increased demand for the product in the agricultural sector to produce fertilisers is expected to be a key trend guiding the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Urea finds applications as fertiliser, urea formaldehyde (UF) and melamine resins, melamine (cyanurates), and animal feed, among others.
The leading players in this market are Yara International ASA, Qatar Fertiliser Company (QAFCO), PT Pupuk Kaltim, Indian Farmers Fertiliser Cooperative Ltd. (IFFCO), CF Industries Holdings, Inc., Nutrien Ltd., National Fertilizers Ltd (NFL), Saudi Arabian Fertilizer Company (SAFCO), and Engro Corporation Limited, amongst others.
The global urea market attained a volume of 187.8 million metric tons in 2020, driven by the expanding agriculture sector, increased demand for fertilisers, rising population, rising disposable incomes, availability of feedstock for urea production and low prices. Aided by the increased demand for the product in the agricultural sector to produce fertilisers, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 2%. The market is projected to reach 211.5 million metric tons by 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. By application, the industry can be divided into fertiliser, urea formaldehyde (UF) and melamine resins, melamine (cyanurates), and animal feed, among others. The major regional markets for urea are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Yara International ASA, Qatar Fertiliser Company (QAFCO), PT Pupuk Kaltim, Indian Farmers Fertiliser Cooperative Ltd. (IFFCO), CF Industries Holdings, Inc., Nutrien Ltd., National Fertilizers Ltd (NFL), Saudi Arabian Fertilizer Company (SAFCO), and Engro Corporation Limited, amongst others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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