The global urea market was valued at USD 76.13 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 5.4%, reaching USD 125.92 billion by 2033. Straits Research's latest market analysis indicates that urea, a vital compound used in agriculture and various industrial applications, is poised for sustained growth, driven by expanding agricultural demand, evolving industrial processes, and increasing utilization in diverse sectors.
What is Urea?
Urea, also known as carbamide, is a nitrogen-rich chemical compound widely used as a fertilizer in agriculture due to its high nitrogen content, which enhances plant growth. Apart from its pivotal role in agriculture, urea is also utilized in various industrial applications, such as the production of plastics, resins, and chemicals, as well as in refrigeration and pharmaceutical processes. Urea’s versatility and global demand across multiple industries make it a significant chemical in both developed and emerging markets.
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Market Dynamics: Key Trends, Drivers, and Opportunities
Latest Key Trends:
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Increasing Adoption of Urea Fertilizers: One of the most significant trends in the urea market is the increasing adoption of urea-based fertilizers in the agriculture sector. As the global population grows, there is an increased demand for food production, which drives the need for effective fertilizers. Urea, being one of the most efficient sources of nitrogen for plants, continues to see rising demand from farmers worldwide, especially in regions with intensive agricultural practices.
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Growth in Industrial Applications: Urea's role in various industrial sectors, including the automotive, chemical, and pharmaceutical industries, has expanded. In particular, urea is used in the production of resins, plastics, and as a precursor for manufacturing melamine. Additionally, the refrigeration industry uses urea for producing refrigerants and coolants. The diverse industrial applications of urea are increasingly contributing to the market's growth.
Market Drivers:
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Demand for Urea in Agriculture: Agriculture is the largest end-user of urea, contributing significantly to the market’s growth. The global rise in demand for food due to population growth and dietary changes has led to greater consumption of fertilizers. Urea’s efficiency in supplying nitrogen to plants, enhancing soil fertility, and boosting agricultural productivity makes it indispensable for farmers around the world.
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Technological Advancements in Fertilizer Production: The ongoing technological advancements in fertilizer production, including the development of more efficient urea manufacturing processes, have reduced production costs, making urea more affordable and accessible to farmers. Furthermore, improvements in the distribution channels of urea ensure its availability in remote agricultural regions, boosting its adoption.
Market Opportunities:
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Expanding Agricultural Market in Developing Economies: Emerging economies, particularly in Asia-Pacific and Africa, are experiencing increased agricultural activity due to population growth, urbanization, and changing diets. This presents a significant opportunity for the urea market, as agricultural demand in these regions is set to grow rapidly. Governments in these regions are also supporting agricultural productivity by incentivizing fertilizer use, further increasing the demand for urea.
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Growth of the Automotive and Chemical Industries: With the growing automotive sector, especially in emerging markets, urea is increasingly used in vehicle emissions control systems to reduce nitrogen oxide emissions. Furthermore, urea’s role in the chemical industry, where it is used in plastics, resins, and adhesives, presents a promising opportunity for market growth. The continued expansion of these industries will drive the demand for urea across the globe.
Urea Market Segmentations
The global urea market is segmented by type, end-user, and sales channel, providing a comprehensive understanding of the market landscape:
By Type:
- Liquid
- Gas
By End-User:
- Agriculture
- Textile
- Mining
- Pharmaceutical
- Refrigeration
- Others
By Sales Channel:
- Direct
- Distribution
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Key Players in the Urea Market
The urea market is highly competitive, with several key players dominating the industry. These players continue to invest in research and development, production capacity expansion, and geographical market expansion to strengthen their position in the global market:
- CF Industries
- EuroChem
- IBI Scientific
- Iwatani Corporation
- Koch Fertilizer, LLC
- Nutrien Ltd
- OCI Global
- PT Pupuk Kalimantan Timur
- QAFCO
- SABIC
- The Chemical Company
- Yara International
Dominated Region and Fastest Growing Region
Asia-Pacific dominates the global urea market, accounting for the largest share due to high agricultural activity in countries such as China and India, which are major consumers of urea. These nations rely heavily on urea-based fertilizers to support their large-scale agricultural sectors. Furthermore, the rise in industrial applications across Asia-Pacific, particularly in countries like China and Japan, is contributing to market growth.
The North American region, particularly the United States and Canada, is expected to be the fastest-growing region in the forecast period. The growth of the urea market in North America is driven by the increasing demand from the agricultural and chemical industries. Additionally, the growing automotive industry and technological advancements in fertilizer production are expected to drive demand for urea in this region.
Conclusion
The global urea market is poised for significant growth, with a projected increase from USD 80.24 billion in 2025 to USD 125.92 billion by 2033, growing at a CAGR of 5.4%. The agriculture sector remains the primary driver of market demand, while expanding industrial applications and emerging economies provide ample opportunities for growth. As the market continues to evolve, urea's role as a vital component in agriculture and industry will solidify its importance in the global economy.
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