Global Urea Market

Global Urea Market Analysis: Size, Drivers, Trends, Opportunities And Strategies

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033


Market Size and Growth

  • 2023 Market Size: $47.64 billion
  • 2024 Market Size: $48.94 billion
  • CAGR (2023-2024): 2.7%

Historic Growth Factors

  • Agricultural demand
  • Global population growth
  • Raw material prices
  • Industrial applications
  • Climate conditions

Future Market Projections

  • 2028 Market Size: $54.96 billion
  • CAGR (2024-2028): 2.9%

Future Growth Drivers

  • Environmental regulations
  • Global economic trends
  • Climate change impact
  • Market competition
  • Consumer preferences

Key Trends (2024-2028)

  • Price volatility
  • Shift in agricultural practices
  • Innovation in production
  • Alternative fertilizers
  • Government subsidies


Read The Full Urea Market Report Here:


Growing Agriculture Sector’s Impact on Urea Market

Agricultural Demand

  • Urea is a key fertilizer for enhancing plant growth and crop yields.
  • Urea provides an easily accessible source of nitrogen to plants.

Global Crop Production

  • 2021 primary crop production: 9.5 billion tons (2% rise from 2020).
  • Oil palm fruit, soya beans, and rapeseed production: 859 million tons (2% increase from 2020).

Major Companies

  • Saudi Arabia’s Basic Industries Corporation
  • Qatar Fertilizer Company
  • EuroChem Group AG
  • Yara International ASA
  • Nutrien AG
  • OCI N.V.
  • CF Industries Holding
  • China National Petroleum Corporation
  • Koch Fertilizer LLC

Technological Advancements Driving Revenue Growth

Innovations in Urea Products

  • Development of slow-release and coated urea products.
  • Slow-release products improve nitrogen uptake and reduce application frequency.

Example: ICL Group Ltd.

  • September 2022: Launched eqo.x, a controlled release fertilizer (CRF) coating for urea.
  • Enhances nutrient use efficiency (NUE) by up to 80%.
  • Reduces nitrogen loss and environmental impact.

Strategic Acquisitions: Casale and Green Granulation Limited

Casale SA Acquisition

  • April 2022: Acquired Green Granulation Limited.
  • Enhances Casale’s technology portfolio and strengthens its position in China.
  • Supports a one-stop-shop strategy for N-based fertilizer production.

Benefits of Acquisition

  • Broader technology offerings
  • Enhanced market presence in China
  • Comprehensive fertilizer production solutions

Urea Market Segmentation

By Grade

  • Fertilizer Grade
  • Feed Grade
  • Technical Grade

By Technology

  • Stamicarbon Technology
  • SnamProgetti (Saipem) Technology
  • Conventional Technologies
  • Other Technologies

By Application

  • Fertilizer
  • Urea Formaldehyde (UF) and Melamine Resins
  • Melamine (Cyanurates)
  • Animal Feed
  • Other Applications

By End-User

  • Agriculture
  • Chemical
  • Automotive
  • Medical
  • Other End-Users

Regional Insights

Largest Market

  • Asia-Pacific was the largest region in the urea market in 2023.

Fastest-Growing Region

  • South America is expected to be the fastest-growing region during the forecast period.


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The Urea Global Market Report 2024  provides an overview of the urea market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The urea market forecast analyzes urea market size, urea market share, leading competitor and their market positions.


The Table Of Content For The Urea Market Include:
1. Urea Market Executive Summary
2. Urea Market Segments
3. Urea Market Size And Urea Market Growth Rate
4. Key Urea Market Trends
5. Major Urea Market Drivers
25. Key Mergers And Acquisitions In The Urea Market
26. Top Urea Companies
27. Urea Market Opportunities And Strategies
28. Urea Market, Conclusions And Recommendations
29. Appendix


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