Industrial Grade Urea Market Size (2024 - 2029)

The industrial grade urea market is projected to experience growth over the forecast period, driven by its extensive application in various sectors, including automotive and fertilizers. Despite challenges such as price fluctuations and regulatory concerns in critical regions, the market is poised for expansion, particularly with opportunities arising from its use in eco-friendly construction. The Asia-Pacific region is anticipated to lead in market dominance, while the Middle East and Africa are expected to exhibit the most rapid growth.

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Market Size of Industrial Grade Urea Industry

Industrial Grade Urea Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 1.81 %
Fastest Growing Market Middle East and Africa
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Industrial Grade Urea Market Major Players

*Disclaimer: Major Players sorted in no particular order

Urea Market Analysis

The Industrial Grade Urea Market size is estimated at 191.90 Million tons in 2024, and is expected to reach 209.91 Million tons by 2029, growing at a CAGR of 1.81% during the forecast period (2024-2029).

Considering the COVID-19 pandemic situation, several countries were forced to go into lockdown, which led people to minimize the usage of personal vehicles. Additionally, automotive manufacturing plants were on a temporary halt, thus leading to a decline in the consumption of urea-based catalysts. However, the market recovered in 2021. It is expected to grow at a significant rate during the coming years.

  • Over the short term, the high applicability of technical grade urea, increasing demand from the automotive sector, and increasing usage in the fertilizer segment are expected to drive market growth.
  • The indiscriminate use of urea in critical regions and fluctuation in prices are likely to hinder the market growth.
  • The use of industrial grade urea in eco-friendly construction is likely to create opportunities for the market in the coming years.
  • The Asia-Pacific region is expected to dominate the market. However, the Middle East and Africa is likely to witness the highest CAGR during the forecast period.

Urea Industry Segmentation

Urea is extensively used in urea-formaldehyde (UF) resin, a non-transparent thermosetting polymer. It is manufactured mainly from urea and methanal (formaldehyde).

The industrial grade urea market is segmented by grade, end-user industry, and geography. By grade, the market is segmented into fertilizer, feed, and technical. By end-user industry, the market is segmented into agriculture, chemical, automotive, medical, and other end-user industries. The report also covers the market size and forecasts for the urea market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons).

Grade
Fertilizer
Feed
Technical
End-user Industry
Agriculture
Chemical
Automotive
Medical
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Industrial Grade Urea Market Size Summary

The industrial grade urea market is poised for growth, driven by its extensive application in various sectors, including agriculture, automotive, and construction. Urea, known for its high nitrogen content, is predominantly used as a nitrogen-release fertilizer, making it a crucial component in enhancing crop yield and profitability. The market is experiencing a resurgence post-COVID-19, with increasing demand from the automotive sector and the fertilizer industry. However, challenges such as price fluctuations and indiscriminate use in critical regions may impede growth. The Asia-Pacific region currently holds the largest market share, with significant reliance on nitrogenous fertilizers, while the Middle East and Africa are expected to witness the highest growth rate during the forecast period.

The market landscape is characterized by fragmentation, with numerous players holding small shares in global production capacity. Major companies like Industries Qatar, SABIC, OCI NV, Yara, and CF Industries Holdings Inc. are key participants. Recent investments and expansions, such as OCI NV's significant investment in Texas and Pupuk Kaltim's new factory in Indonesia, highlight the industry's growth trajectory. Additionally, the use of urea in eco-friendly construction and advancements in the chemical, automobile, and medical industries are anticipated to create further opportunities. Despite challenges, the market's recovery and growth prospects remain robust, supported by strategic expansions and increasing global demand for fertilizers and industrial applications.

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Industrial Grade Urea Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 High Applicability of Technical Grade Urea

      2. 1.1.2 Increasing Demand from the Automotive Sector

      3. 1.1.3 Increasing Usage in the Fertilizers Segment

    2. 1.2 Restraints

      1. 1.2.1 Indiscriminate Use of Urea in Key Regions

      2. 1.2.2 Fluctuation in the Prices

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Feedstock Analysis

    6. 1.6 Technological Snapshot

      1. 1.6.1 Production Process

      2. 1.6.2 Patent Analysis

    7. 1.7 Import-Export Trends

    8. 1.8 Regulatory Policy Analysis

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Grade

      1. 2.1.1 Fertilizer

      2. 2.1.2 Feed

      3. 2.1.3 Technical

    2. 2.2 End-user Industry

      1. 2.2.1 Agriculture

      2. 2.2.2 Chemical

      3. 2.2.3 Automotive

      4. 2.2.4 Medical

      5. 2.2.5 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 ASEAN Countries

        6. 2.3.1.6 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 France

        3. 2.3.3.3 United Kingdom

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Industrial Grade Urea Market Size FAQs

The Industrial Grade Urea Market size is expected to reach 191.90 million tons in 2024 and grow at a CAGR of 1.81% to reach 209.91 million tons by 2029.

In 2024, the Industrial Grade Urea Market size is expected to reach 191.90 million tons.

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