Press release
Urea Prices, Demand, News, Chart and Forecast
๐๐ซ๐๐ ๐๐ซ๐ข๐๐ ๐ข๐ง ๐๐๐โข ๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ: 470 USD/MT
โข ๐๐ก๐ข๐ง๐: 350 USD/MT
โข ๐๐ฎ๐ซ๐จ๐ฉ๐: 410 USD/MT
The latest report by IMARC Group, titled "๐๐ซ๐๐ ๐๐ซ๐ข๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐๐: ๐๐ซ๐ข๐๐ ๐๐ซ๐๐ง๐, ๐๐ก๐๐ซ๐ญ, ๐๐๐ซ๐ค๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ, ๐๐๐ฐ๐ฌ, ๐๐๐ฆ๐๐ง๐, ๐๐ข๐ฌ๐ญ๐จ๐ซ๐ข๐๐๐ฅ ๐๐ง๐ ๐ ๐จ๐ซ๐๐๐๐ฌ๐ญ ๐๐๐ญ๐," provides a thorough examination of the Prices. This report delves into the price of Urea globally, presenting a detailed analysis, along with informative Price Chart. Through comprehensive Price analysis, the report sheds light on the key factors influencing these trend. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Demand, analyzing how it impacts Industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ ๐ข๐ณ๐ณ๐ฒ๐ฟ๐ถ๐ป๐ด:ย
โข ๐ ๐ผ๐ป๐๐ต๐น๐ ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ๐: Annual Subscription
โข ๐ค๐๐ฎ๐ฟ๐๐ฒ๐ฟ๐น๐ ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ๐: Annual Subscription
โข ๐๐ถ๐ฎ๐ป๐ป๐๐ฎ๐น๐น๐ ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ๐: Annual Subscription
The study delves into the factors affecting urea price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the Industry, equipping stakeholders with the latest information on Industry fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐จ๐ซ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/urea-pricing-report/requestsample
๐๐ซ๐๐ ๐๐ซ๐ข๐๐ ๐๐ซ๐๐ง๐- ๐๐๐ฌ๐ญ ๐๐ฎ๐๐ซ๐ญ๐๐ซ
The global urea market is primarily driven by the increasing demand for fertilizer in the agriculture sector, as urea contains a high nitrogen content, essential for plant growth. This demand is particularly strong in emerging economies where agricultural expansion and modernization are priorities. Additionally, the industrial sector contributes to the rise in urea demand, using it in applications such as adhesives, plastics, and pharmaceuticals. Environmental regulations also play a significant role. Moreover, urea-based products are used to reduce harmful emissions from diesel engines through selective catalytic reduction technology, which converts nitrogen oxides into harmless gases.
Furthermore, innovations in production methods have improved efficiency and environmental compliance, making urea production more economically viable. Besides, the volatility in natural gas prices, a primary feedstock for urea, occasionally lowers production costs, thus boosting market growth by making urea-based products more competitive in agricultural and industrial markets across the globe.
๐๐ซ๐๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
The North America market faced fluctuations in the second quarter of 2024. Initially, prices fell due to subdued requirements from key fertilizer sectors and severe weather impacts, including geomagnetic storms and heatwaves. Despite a surplus in urea production and high inventory levels, a late-quarter surge in prices occurred, fueled by the peak sowing season and enhanced requirements from Asian markets, reflecting a complex interplay of local and international market forces. Moreover, the Asia-Pacific urea market experienced price declines in the early part of Q2 2024, primarily influenced by lower freight costs and an excess supply.
While export limitations and reduced seasonal demand suppressed market activity, weather adversities like heavy rains affected agriculture, limiting fertilizer needs. However, by the end of the quarter, the market regained balance as production aligned more closely with consistent requirements from the agricultural sector, notably from fruit growers. Apart from this, Q2 2024 witnessed a sharp decline in urea prices in Europe, primarily as a result of adverse weather that reduced agricultural requirements and caused windstorms and floods.
Moreover, constant cargo inflows despite diplomatic indecision compounded the excess on the market, stifling industrial and agricultural uptake. Along with this, during the quarter, this resulted in a pessimistic attitude and decreased activity in downstream industries.
Besides this, the Middle East and African (MEA) urea market demonstrated variability in Q2 2024, with prices declining initially due to decreased contractual netbacks. However, prices rebounded considerably toward the end of the quarter. Besides, increased manufacturing costs, geopolitical shifts, and constrained supply chains, notably a halt on fertilizer exportations to India by China, created a tight market dynamic that pushed prices upward, marking a period of pronounced instability and price escalation.
Furthermore, during Q2 2024, the urea market in Latin America showed mixed trends, with initial price decreases followed by a mild recovery in demand toward the quarter's end. Challenges such as adverse weather and limited demand due to financial constraints among farmers influenced market conditions. Despite a late surge in prices, the overall demand for urea remained subdued, reflecting the region's complex agricultural and economic landscapes.
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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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