Urea Market Forecast to 2025 with Key Companies Profile, Supply, Demand and SWOT
Urea is applied to different types of crops. It is used extensively as a fertilizer as the soil loses a significant amount of nitrogen after harvest.
[USPRwire, Mon Mar 25 2019] Adroit Market Research today published a study on the “Global Urea Market Trends of Its Related Technologies (Stamicarbon, SnamProgetti, Conventional, Others), Applications (Agriculture, Industrial, Others) For Regions (Asia Pacific, North America, South America, Europe, Middle East & Africa) with Forecasts from 2018 to 2025”. The global urea market size is estimated based on the ongoing trend and consumption patterns of the fertilizer industry across the globe. The report also provides a brief outlook on the key strategies implemented by global players.
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The global urea market size is projected to be valued at USD 56.2 billion by 2025. Industrial applications of urea such as the production of resins and catalysts is estimated to be show fastest growth by 2025. Manufacture of melamine that is used for producing melamine-methanal resins is one of the crucial non-agricultural application of urea.
Urea is being increasingly used for reducing emissions from diesel engines in buses, lorries, and cars. For instance, diesel engines running at high temperatures produce nitric oxide with high concentrations by reacting with nitrogen and oxygen present in the air which causes pollution. One of the ways to remove this pollutant is by allowing it to react with ammonia to form nitrogen. However, the process is volatile and poisonous where a solution of urea & water is injected into the exhaust. Urea is decomposed via a thermal process to form ammonia and carbon dioxide.
China accounted for a major market revenue share of nearly 50 % in 2017 in the global urea market and is estimated to show similar trend over the forecast period. Increase in the capacity of urea and ammonia plants is the key driver behind China being the significant exporter of urea. Presence of huge population coupled with economies of scale is associated with the uplifting demand of urea in this region.
Upcoming capacity addition of ammonia and urea in Egypt is anticipated to boost the demand. For instance, The Egyptian Chemical & Fertilizers Industries (KIMA) is expected to start commercial production of ammonia in April, 2019 followed by urea production at the end of June, at its plant in Aswan. The production capacity of the project, known as KIMA II, will be 396,000 tonnes/year of ammonia and 530,000 tonnes/year of urea.
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The company already produces and distributes ammonium nitrate, ammonia, nitric acid, hydrochloric acid, ferrosilicon alloy and silica fume from the facility. The new plant will have a capacity of 1,200 tonnes/day of ammonia and 1,575 tonnes/day of urea. Egypt is a key exporter of urea with a production capacity of over 4.6m tonnes from four main companies, such as Misr Fertilizers Production Company (MOPCO), Egyptian Fertilizers Company (EFC), Helwan and AlexFert.
Increasing demand for food grains on account of the burgeoning population across the globe is anticipated to elevate the use of urea. Capacity expansion from U.S., China, and Europe has caused increase in the domestic production and decrease in the imports of urea. Capacity expansion has created oversupply of urea hence rising the prices of the urea and accumulation of unsalable inventories.
Key Segments of the Global Urea Market:
Technology Overview, 2013-2025 (Kilo Tons) (USD Million)
SnamProgetti / Saipem technology
Application Overview, 2013-2025 (Kilo Tons) (USD Million)
Regional Overview, 2013-2025 (Kilo Tons) (USD Million)
Rest of North America
Central and Eastern Europe (CEE)
Rest of Asia Pacific
Rest of South America
Middle East & Africa
Rest of Middle East & Africa
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