市場調查報告書
商品編碼
1311908
2023-2030年全球尿素市場Global Urea Market 2023-2030 |
在預測期內(2023-2030年),全球尿素市場預計將以1.8%的可觀年複合成長率成長。終端用戶行業對尿素的消費量不斷成長是推動全球尿素市場成長的關鍵因素。在所有工業化學品中,尿素的含氮量最高,作為農業肥料需求量很大。根據美國化學學會的資料,超過90.0%的尿素產量用於農業。其餘每年生產的2000 萬噸則用於動物飼料、脲醛樹脂、護膚潤膚劑和巴比妥酸生產。鑑於農業對尿素的需求不斷成長,一些國家的政府投資擴大尿素工廠的產能。
據印度政府聲稱,2021年已有四家新尿素工廠投入生產,第五家預計將於2023年投產。順便提及,第五家工廠的統包執行契約已授予中國國有企業武漢工程公司。這些計畫的批准將使該國在尿素生產方面實現自給自足。為提高尿素產量而啟動的計畫不斷增加,預計將為全球尿素市場的成長提供有利的機會。然而,與尿素使用相關的健康問題可能會在預測期內阻礙其市場成長。
Title: Global Urea Market Size, Share & Trends Analysis Report by Grade (Fertilizer, Feed, and Technical), and by End-User Industry (Agriculture, Automotive, Medical, and Others), Forecast Period (2023-2030).
The global urea market is anticipated to grow at a considerable CAGR of 1.8% during the forecast period (2023-2030). The growing consumption of urea by end-user industries is a key factor driving the growth of the global urea market. The urea has the highest nitrogen content of all industrial chemicals and is in high demand as a fertilizer in agriculture. According to the American Chemical Society, more than 90.0% of urea production goes into agriculture. The remaining 20 million tons made annually goes into animal feed, urea-formaldehyde resins, emollients for skin care, and barbituric acid manufacture. Looking towards the growing demand for urea in agriculture industry several governments are investing in the production capacity expansion of urea plants.
According to the government of India, four new urea plants have been commissioned in 2021, and a fifth is expected in 2023. The lumpsum turnkey execution contract for the fifth plant has, incidentally, been awarded to the Chinese state-owned firm Wuhan Engineering. The approval of the projects will make the country self-dependent in terms of urea production. The rising project launches to increase the urea production is anticipated to offer lucrative opportunity for the growth of the global urea market. However, the health related problems regarding urea usage may impede its market growth during the forecast period.
The COVID-19 pandemic has made negative impact on the global urea market. According to the World Bank Group, fertilizer prices declined by 8.5% in May 2020 as lower input costs and weak seasonal demand outweighed the gradual easing of supply bottlenecks. Urea prices fell to a near three-year low in May due to low seasonal demand and sharply lower feedstock costs. The decline followed price increases in March and April as lockdowns, quarantines, and border controls temporarily affected supplies due to a shortage of workers and challenges to transportation systems. European natural gas, a key input to urea production, fell to multi-decade lows in May-almost 60.0% lower than at the start of 2020.
The global urea market is segmented based on grade and end-user industry. Based on grade, the market is sub-segmented into fertilizer, feed, and technical. Based on end-user industry, the market is sub-segmented into agriculture, automotive, medical, and others. Among the end-user industry, the agriculture industry held considerable share in the urea market based on end-user industry. High usage of urea in agriculture industry as a fertilizer is a key factor driving the growth of this market segment
Among the grade segment, the fertilizer sub-segment is expected to hold a considerable share of the global urea market. The primary factor driving the market growth includes the high consumption of urea as a fertilizer among the various sectors including agriculture and others. Urea is a low-cost nitrogen fertilizer form, as its high nitrogen composition and consequent low transport and storage costs. Urea may be the fertilizer of choice when only nitrogen is needed in a soil fertility program.
Apart from this, the technical grade is anticipated to exhibit considerable growth in the urea market. The growing usage of technical grade urea in manufacturing of glue, medical drugs, dyes, disinfectants, and cosmetics is driving the growth of this market segment.
The global urea market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these, the European regional market is anticipated to exhibit a considerable over the forecast period, followed by North America. Significant increase in urea projects across Germany, UK and the Netherlands is a key factor contributing towards the high share of the regional market. Further, the presence of key market players across the region and their contribution in establishment of new production plants across the region is another major contributor towards the high share of the regional market.
Among all the regions, the Asia-Pacific region is expected to hold a considerable market share in the global urea market. India and China are the key contributors to the growth of the regional market. India is an agriculture-based country with approximately 75.0% of the population is reliant on farming, directly or indirectly. The rising utility of agrochemicals in the country to meet the growing needs for sustainable crop production is a key factor contributing towards the growth of the regional market. Further, these countries have witnessed significant demand for urea owing to the increasing government focus towards food security and the increasing demand for biodegradable materials in the agriculture sector.
The major players operating in the market include: SKW Stickstoffwerke Piesteritz GmbH, Yara International Ltd., BAF SE, Nutrient Ltd., EuroChem Group and so on. These companies are making continuous investments in R&D to make progress in producing technologically advanced urea. Mergers & acquisitions, geographical expansion, production capacity expansion, partnerships, and collaborations are some of the key strategies adopted by the market players to remain competitive in the market place. For instance, in March 2021, Koch Fertilizer (KF) invested around $150 million at its Enid, Oklahoma, the US, nitrogen production facility to increase urea production and enhance the reliability of existing production units as well as improve rail infrastructure and ammonia truck loading facilities. The project will increase production of ammonia upgrade products such as urea. Once complete, it will be able to supply up to 1.8 million tpy of ammonia upgrade products.