Urea Market Size, Share, Price, Industry Analysis and Outlook 2021-2026

Press Release:

Global Urea Market to Grow at 3% During 2020-2025, Facilitated by Significant Growth in Agricultural Sector

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Urea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Report Overview:

The global urea market exhibited stable growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Urea (‎CH₄N₂O), or carbamide, refers to a highly soluble nitrogenous compound that is naturally found in the human liver. It is commercially synthesized by combining ammonia with carbon dioxide (CO₂) under high pressure to obtain solid odorless white pellets or crystals. Urea is primarily used in the production of urethane, which is further polymerized to form polyurethane foams. It is also utilized in the manufacturing of fertilizers, feed supplements, pharmaceuticals, adhesives, laminates, molding compounds, resins, coatings and textile finishes. It finds extensive applications across various industries, including agriculture, chemical, automotive and medical.

Significant growth in the agriculture industry across the globe is one of the key factors driving the market growth. In comparison to traditionally used ammonium nitrate, urea is more cost-effective and offers higher crop yield in lesser time. This has resulted in the widespread adoption of urea as a fertilizer and animal feed additive. Furthermore, the increasing utilization of urea in the automotive industry is also contributing to the market growth. Urea is extensively utilized in this industry to minimize nitrogen oxide emissions from diesel automobiles. Automotive urea, or diesel exhaust fluid (DEF), is injected into the exhaust systems and tanks of trucks, buses, cars and sports utility vehicles (SUVs) to remove nitrogen oxide from the diesel exhaust. The availability of premium-quality technical grade urea, which is extensively utilized in the manufacturing of medical drugs, dyes, disinfectants, cosmetics and yeast, is acting as another major growth-inducing factor. Other factors, including advancements in melting and granulation technologies to enhance energy and cost-effectiveness of urea, along with the growing demand for urea in the chemical industry, are projected to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global urea market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, grade, application, and end-use industry.

Breakup by Grade:

Fertilizers Grade
Feed Grade
Technical Grade

Breakup by Application:

Nitrogenous Fertilizer
Stabilizing Agent
Keratolyte
Resin
Others

Breakup by End-Use Industry:

Agriculture
Chemical
Automotive
Medical
Others

Breakup by Region:

North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Acron, BASF SE, BIP (Oldbury) Limited, EuroChem, Jiangsu Sanmu Group Co. Ltd., Koch Fertilizer LLC, OCI Nitrogen, Petrobras, Qatar Fertiliser Company, SABIC, Yara International ASA, etc.

Key Questions Answered in This Report:

How has the global urea market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global urea market?
What is the breakup of the market based on the grade?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global urea market and who are the key players?
What is the degree of competition in the industry?