Urea Market Size is Projected to Reach USD 60.2 Billion by 2033

NEW YORK - Jan. 5, 2026 - PRLog -- The global urea market size was valued at USD 52.7 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 60.2 Billion by 2033, exhibiting a CAGR of 1.5% during 2025-2033. Asia-Pacific currently dominates the market, holding a significant market share of over 45.2% in 2024.

Rising Agricultural Demand

Increased need for nitrogen fertilizers among farmers should cause growth in the urea market. Reports indicate consumption of fertilizers worldwide will recover by 4% to 192.5 Million Metric Tons in 2023 and grow by 5% in 2024. In 2024, the total world demand for nitrogen fertilizers is predicted at 108 mmt while the production is projected at 109 mmt. The increasing demand is due to the need for more crop production. The FAO estimates that the world's food production will need to increase by 70%, by 2050.

Industrial Applications Driving Growth

Advancements in technology that make urea production more efficient, inexpensive, and eco-friendly are also helpful for the urea market as a whole. For example, in July 2024, NEXTCHEM contracted its Advanced MP Flash Design technology for a Chinese urea plant, to reduce energy consumption by up to 20%. These technologies reduce costs and increase quality, making urea more useful in agricultural and industrial applications.

Price Volatility and Supply Chain Challenges

Government policies and subsidies have also propelled this market. Governments provide subsidies to urea to have food security and agricultural productivity. Other policies include stopping import of urea in India by 2025, increasing production capacity, and promoting nano liquid urea. These policies implement to make fertilizer accessible and adopted, to align with sustainability goals to meet increasing market demand.

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Industry Segmentation:

By Grade:

• Fertilizers Grade
• Feed Grade
• Technical Grade

By Application:

• Nitrogenous Fertilizer
• Stabilizing Agent
• Keratolyte
• Resin
• Others

By End-Use Industry:

• Agriculture
• Chemical
• Automotive
• Medical
• Others

Regional Insights:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Asia-Pacific contributes the most to the global urea market. It accounts for over 45.2% of the total share in 2024.

Who are the key players operating in the industry?
The report covers the major market players including:

• Acron Group
• BASF SE
• BIP (Oldbury) Limited
• EuroChem
• Jiangsu Sanmu Group Co. Ltd.
• Koch Fertilizer LLC
• OCI N.V
• Petrobras
• Qatar Fertiliser Company
• SABIC
• Yara International ASA

Browse Full Report with TOC & List of Figures: https://www.imarcgroup.com/urea-market

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services.