Urea Market is to grow at a 2.8 % CAGR, with the United States leading the market through 2030

Urea Market to Hit USD 53.69 Bn by 2030

The Urea Market was USD 44.25 Bn in 2024 and is expected to expand at a CAGR of 2.8 % from 2024 to 2030, reaching USD 53.69 Bn by 2030. Urea is crucial for increasing agricultural yield as a main nitrogen fertilizer, which raises the need for urea. The need for urea to raise crop yields and improve soil fertility is growing as agricultural operations expand, especially in emerging nations. Governments in several countries subsidize urea to ensure that farmers can buy it at affordable prices, particularly in emerging countries like China, Brazil, and India. The United States the urea market is anticipated to grow at a Compound Annual Growth Rate of 5.58% between 2024 and 2032.

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Urea Market Segmentation

By Grade: The fertilizer Grade Urea segment holds the most market share for urea. It is one of the best nitrogen fertilizers for increasing soil fertility and encouraging plant development since it contains around 46% nitrogen. Feed Grade Urea is utilized as a non-protein source of nitrogen for ruminants, such as goats, sheep, and cattle, in the animal feed business.

By End User: In the Agriculture segment urea is widely used in the production of grain and vegetable crops, including maize, rice, and wheat. In the chemical sector, urea is utilized to create urea-formaldehyde resins, which are utilized in paints, adhesives, and polymers. In the medical sector especially in dermatology, where it is used topically to psoriasis, eczema, and dry skin.

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Urea Market Regional Analysis

The United States Urea market is anticipated to reach over USD 14.40 billion by 2030. Urea output in the United States increased from 3.2% to 5.8 million tons as compared to 2024. CF Industries held the largest urea production capacity in the U.S., exceeding 6.21 million tons. CF Industries Holdings, Inc., and CF Industries Holdings, Inc. are the major key players in the US market.

The German urea market was estimated to be worth USD 5.31 billion in 2024. Germany is anticipated to export around 1.5 billion kg of urea, representing a 2% annual growth. German urea prices fell 1.5% in May 2024 as a result of lower demand brought on by unfavorable weather and falling ammonia feedstock prices.

China's daily urea production is projected to be between 180,000 and 186,000 tons, with a marginal rise in average daily production over prior weeks. In August 2024, urea shipments fell 92% year over year as a result of China's severe export controls. Urea prices rose 14.8% in February 2025 after a period of low demand and weak pricing.

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Urea Market Competitive Landscape

CF Industries Holdings, Inc.: In December 2023, Incitec Pivot Limited (IPL) sold the Waggaman, Louisiana, ammonia manufacturing plant to CF Industries for $1.675 billion. Terra Industries Inc., a significant manufacturer of nitrogen fertilizer, was acquired by CF Industries for approximately $4.7 billion.

Yara International ASA: In December 2023, Yara acquired Agribios Italiana's organic fertilizer company in Italy. Greenbelt Fertilizers, a well-known fertilizer distributor in Zambia, Malawi, and Mozambique, was acquired by Yara for $51 million.

Nutrien Ltd.: In June 2024, Suncor Energy's AgroScience assets were acquired by Nutrien Ag Solutions, a Nutrien affiliate. In February 2023, Casa do Adubo, a well-known retail fertilizer firm in Brazil, was fully acquired by Nutrien.

Conclusion

The urea market has a bright future, but it will be impacted by regulatory changes, technological developments, and the status of the economy as a whole.

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