Summary
Objective
The urea industry's competitive landscape is characterized by a combination of large-scale producers and regional manufacturers. Major factors driving competition include technological advancements, production capacity, and access to raw materials such as natural gas. Urea key players are investing in expanding production facilities and adopting innovative technologies to increase efficiency and reduce costs. Such as, in September 2023, SABIC Agri-Nutrients Company (SABIC AN) has joined with US-based ADM and BiOWiSH Technologies to help sustainable agriculture. This collaboration aims on a 50,000-acre pilot project in the Midwest, utilizing SABIC AN's biologically enhanced urea fertilizer, which decreases greenhouse gas emissions and sequesters atmospheric carbon dioxide.
Scope
MMR report on market landscape gives a brief idea of major competitors such as SABIC, CF Industries Nitrogen, BASF, Nutrien, Acron Group and others., along with emerging brands for instance Beyond Meat and Impossible Foods. These companies hold strong urea market revenue owing to established product innovation, distribution channels, and brand recognition. Their strengths involve product diversity, effective marketing, and the ability to cater to the developing demand for plant-based, clean-label products.
Competitors are struggling to enhance sustainability and progress cost-efficiency, which are areas of capability weakness. By understanding these dynamics, key players position themselves more competitively by focusing on product pricing, innovation, and cost management. This approach helps companies in the urea market capitalise on development consumer demand for plant-based substitutes while addressing competitor weaknesses and capturing future of urea market share.
Summary
Urea Market size was valued at US$ 44.25 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 2.8% through 2024 to 2030, reaching nearly US$ 53.69 Bn. Economic factors significantly influence urea demand, shaping markets like the urea cycle disorders treatment market. Fluctuations in GDP, trade patterns, and commodity prices directly impact agricultural practices and industrial production. Changes in economic indicators, such as shifts in trade agreements or currency values, influence market dynamics, affecting both supply chains and consumer behavior in the urea market. Economic stability and growth often correlate with increased demand for urea-based products across various sectors.
The agricultural industry is increasing demand for urea as a fertilizer is expected to drive market growth. Urea is a valuable source of nitrogen, and it is mostly utilized in nitrogen-based fertilizers due to its high nitrogen content. The health risks associated with urea are expected to hamper market growth. In the forecast period, the market is expected to increase to benefit from the identification of uses for urea in the manufacturing of bio-bricks.
Global Supply/Demand Outlook for Urea Market
In 2023, the global capacity of urea was nearly 242,000 KT and is estimated to reach 300,000 KT by 2030. There is a growing demand for nitrogenous fertilizers, which contributes to the urea market growth. Approximately 80-85% of urea produced on a worldwide scale is used in the production of chemical fertilizers, mainly nitrogen-based fertilizers. One of the major factors propelling the urea market is the growth of the agriculture sector and the growing focus on enhancing agricultural output. Farmers, to improve pasture and crop growth, often increase soil nitrogen levels by utilizing nitrogen fertilizers.
The increasing importance of nitrogen in the growth and development of plants is projected to continue to favour the urea market in the coming years. The APAC holds the major share of urea capacities, demonstrating around 66% of the global production capacity. The plant capacity consumption of urea continued 81% in 2023.
The major players in the urea market are Yara Chemical, SABIC, P.T. Pupuk Indonesia, Qatar Fertilise Co., Koch Fertilizer LLC. and Acron Group, these key players represent nearby 20% of the global capacity, of which P.T. Pupak Indonesia alone entertains around 5.7% urea market share, promising as the market leader.
In Asia, Pupuk Indonesia is one of foremost fertilizer manufacturers and the company plays a key role in the world fertilizer trade. It has placed itself as a urea market leader in ammonia and urea production in APAC.
Urea Market Recent Development:
• In Feb 2024, Egyptian urea manufacturer Helwan signed a promise with SML-INNO UK to produce 130,000 tons yeraly of black urea. The product is estimated to enhance crop growth while with 25-30% less nitrogen than conventional urea. The project, aiming European and UK markets, is projected to cost US$5 million. Helwan also works a 635,000 tons per year granulated urea facility.
• In April 2023, SABIC Agri-Nutrients Company obtained a 49% stake in ETG Inputs Holdco ltd, part of the ETC Group, for US$ 320 million. This acquisition allies with SABIC Agri-Nutrients Company's strategy to combine the value chain and increase the distribution of Agri-nutrients industries.
Nutrien
Nutrien is one of the largest worldwide providers of crop inputs and services, playing a key role in the agriculture industry. Formed done the merger of Agrium and PotashCorp in 2018, the company manufactures and distributes a complete range of fertilizers, with potash, nitrogen, and phosphate-based products. Nutrient’s urea helps are integral to its nitrogen portfolio, assisting sustainable farming practices. The company operates a wide retail network, requiring farmers with tailored solutions for crop nutrition and protection. With its worldwide presence, Nutrien directs on sustainability and innovation, leveraging advanced technologies to increase agricultural environmental and productivity stewardship.
CF Industries Nitrogen
CF Industries Nitrogen, a subsidiary of CF Industries Holdings, is a prominent global manufacturer of nitrogen-based fertilizers. The company focuses on urea, ammonia, and urea ammonium nitrate (UAN) solutions, which are needed for agriculture and industrial products. Known for its advanced production provisions and efficient distribution systems, CF Industries ensures a reliable supply of high-quality nitrogen products to its customs worldwide.
The agricultural industry is increasing demand for urea as a fertilizer is expected to drive market growth. Urea is a valuable source of nitrogen, and it is mostly utilized in nitrogen-based fertilizers due to its high nitrogen content. The health risks associated with urea are expected to hamper market growth. In the forecast period, the market is expected to increase to benefit from the identification of uses for urea in the manufacturing of bio-bricks.
Global Supply/Demand Outlook for Urea Market
In 2023, the global capacity of urea was nearly 242,000 KT and is estimated to reach 300,000 KT by 2030. There is a growing demand for nitrogenous fertilizers, which contributes to the urea market growth. Approximately 80-85% of urea produced on a worldwide scale is used in the production of chemical fertilizers, mainly nitrogen-based fertilizers. One of the major factors propelling the urea market is the growth of the agriculture sector and the growing focus on enhancing agricultural output. Farmers, to improve pasture and crop growth, often increase soil nitrogen levels by utilizing nitrogen fertilizers.
The increasing importance of nitrogen in the growth and development of plants is projected to continue to favour the urea market in the coming years. The APAC holds the major share of urea capacities, demonstrating around 66% of the global production capacity. The plant capacity consumption of urea continued 81% in 2023.
The major players in the urea market are Yara Chemical, SABIC, P.T. Pupuk Indonesia, Qatar Fertilise Co., Koch Fertilizer LLC. and Acron Group, these key players represent nearby 20% of the global capacity, of which P.T. Pupak Indonesia alone entertains around 5.7% urea market share, promising as the market leader.
In Asia, Pupuk Indonesia is one of foremost fertilizer manufacturers and the company plays a key role in the world fertilizer trade. It has placed itself as a urea market leader in ammonia and urea production in APAC.
Urea Market Recent Development:
• In Feb 2024, Egyptian urea manufacturer Helwan signed a promise with SML-INNO UK to produce 130,000 tons yeraly of black urea. The product is estimated to enhance crop growth while with 25-30% less nitrogen than conventional urea. The project, aiming European and UK markets, is projected to cost US$5 million. Helwan also works a 635,000 tons per year granulated urea facility.
• In April 2023, SABIC Agri-Nutrients Company obtained a 49% stake in ETG Inputs Holdco ltd, part of the ETC Group, for US$ 320 million. This acquisition allies with SABIC Agri-Nutrients Company's strategy to combine the value chain and increase the distribution of Agri-nutrients industries.
Nutrien
Nutrien is one of the largest worldwide providers of crop inputs and services, playing a key role in the agriculture industry. Formed done the merger of Agrium and PotashCorp in 2018, the company manufactures and distributes a complete range of fertilizers, with potash, nitrogen, and phosphate-based products. Nutrient’s urea helps are integral to its nitrogen portfolio, assisting sustainable farming practices. The company operates a wide retail network, requiring farmers with tailored solutions for crop nutrition and protection. With its worldwide presence, Nutrien directs on sustainability and innovation, leveraging advanced technologies to increase agricultural environmental and productivity stewardship.
CF Industries Nitrogen
CF Industries Nitrogen, a subsidiary of CF Industries Holdings, is a prominent global manufacturer of nitrogen-based fertilizers. The company focuses on urea, ammonia, and urea ammonium nitrate (UAN) solutions, which are needed for agriculture and industrial products. Known for its advanced production provisions and efficient distribution systems, CF Industries ensures a reliable supply of high-quality nitrogen products to its customs worldwide.Table of Content
1. Urea Market Competition Matrix
2. Key Players Benchmarking
• Company Name
• Product Segment
• End User Segment
• Revenue
• Manufacturing Locations
3. Mergers and Acquisition
4. Market Structure of Companies
• Market Leaders
• Market Followers
• Emerging Players
5. Urea Market Manufacturing Company Profile: Key Players
5.1. Nutrien
• Company Overview
• Business Portfolio
• Financial Overview
• SWOT Analysis
• Strategic Analysis
• Recent Developments
5.2. CF Industries Nitrogen
5.3. uf chemical co.
5.4. Phospholutions
5.5. BASF
5.6. OCI Global
5.7. Achema
5.8. Agrofert
5.9. Acron Group
5.10. Chambal Fertilisers and Chemicals
5.11. Coromandel International
5.12. Gujarat Narmada Valley
5.13. Zuari Agro Chemicals
5.14. National Fertilizers
5.15. Talcher Chemicals and Fertilizers
5.16. Fauji Fertilizer Company
5.17. Madras Fertilizers
5.18. Indorama Corporation
5.19. China BlueChemical
5.20. Ramagundam Fertilizers & Chemicals
5.21. Petronas Chemicals Group
5.22. Gulf Formaldehyde Company
5.23. SABIC
5.24. AlexFert
5.25. Ibn Al-Bayttar
