Ureines Market

Driven by increasing demand for ureines and their derivatives and salts worldwide, the global market is expected to exhibit growth over the forecast period from 2022 to 2030. Market performance is projected to accelerate with a forecasted CAGR of +1.1%, reaching a volume of 216K tons and a value of $3.3B by 2030. Consumption and production trends, major consuming and producing countries, import and export statistics, as well as pricing trends, are analyzed in detail for the period from 2012 to 2022.

Market Forecast

Driven by increasing demand for ureines and their derivatives and salts thereof worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.1% for the period from 2022 to 2030, which is projected to bring the market volume to 216K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market value to $3.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Ureines And Their Derivatives And Salts Thereof

In 2022, consumption of ureines and their derivatives and salts thereof was finally on the rise to reach 197K tons for the first time since 2019, thus ending a two-year declining trend. In general, consumption showed a relatively flat trend pattern. Over the period under review, global consumption reached the peak volume at 197K tons in 2019; afterwards, it flattened through to 2022.

The global ureines market value skyrocketed to $2.6B in 2022, growing by 22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the global market reached the maximum level at $2.8B in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

Russia (171K tons) remains the largest ureines consuming country worldwide, accounting for 87% of total volume. It was followed by Brazil (3.7K tons), with a 1.9% share of total consumption.

In Russia, ureines consumption remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (-5.1% per year) and the United States (-1.7% per year).

In value terms, Russia ($2.2B) led the market, alone. The second position in the ranking was held by Brazil ($85M).

From 2012 to 2022, the average annual rate of growth in terms of value in Russia was relatively modest. The remaining consuming countries recorded the following average annual rates of market growth: Brazil (-3.1% per year) and the United States (+1.0% per year).

From 2012 to 2022, the average annual rate of growth in terms of the ureines per capita consumption in Russia was relatively modest. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Brazil (-5.8% per year) and the United States (-2.6% per year).

Production

World Production of Ureines And Their Derivatives And Salts Thereof

In 2022, production of ureines and their derivatives and salts thereof was finally on the rise to reach 187K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, production saw a relatively flat trend pattern. Over the period under review, global production attained the maximum volume at 188K tons in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, ureines production soared to $1.4B in 2022 estimated in export price. Overall, production, however, showed a deep contraction. The pace of growth appeared the most rapid in 2016 with an increase of 373% against the previous year. As a result, production reached the peak level of $5.9B. From 2017 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

Russia (171K tons) remains the largest ureines producing country worldwide, comprising approx. 92% of total volume. It was followed by Israel (3.8K tons), with a 2% share of total production.

In Russia, ureines production remained relatively stable over the period from 2012-2022.

Imports

World Imports of Ureines And Their Derivatives And Salts Thereof

In 2022, purchases abroad of ureines and their derivatives and salts thereof increased by 5.5% to 23K tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of 35%. Over the period under review, global imports attained the peak figure at 33K tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, ureines imports soared to $316M in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 31% against the previous year. As a result, imports attained the peak of $347M. From 2019 to 2022, the growth of global imports remained at a somewhat lower figure.

Imports By Country

In 2022, Brazil (3.7K tons) and the United States (3.7K tons) were the largest importers of ureines and their derivatives and salts thereofacross the globe, together constituting 33% of total imports. India (2K tons) ranks next in terms of the total imports with a 9% share, followed by Thailand (6.2%) and Germany (6%). Israel (905 tons), Japan (870 tons), the Netherlands (869 tons), Malaysia (842 tons), Singapore (822 tons), Indonesia (611 tons), Mexico (583 tons) and France (562 tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +16.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Brazil ($89M) constitutes the largest market for imported ureines and their derivatives and salts thereof worldwide, comprising 28% of global imports. The second position in the ranking was taken by the United States ($40M), with a 13% share of global imports. It was followed by India, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value in Brazil amounted to +5.0%. In the other countries, the average annual rates were as follows: the United States (+1.1% per year) and India (+24.6% per year).

Import Prices By Country

In 2022, the average ureines import price amounted to $13,994 per ton, rising by 11% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2013 when the average import price increased by 36% against the previous year. Global import price peaked at $15,283 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($27,671 per ton), while Thailand ($6,284 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+12.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Ureines And Their Derivatives And Salts Thereof

In 2022, approx. 12K tons of ureines and their derivatives and salts thereof were exported worldwide; falling by -16.5% compared with 2021. In general, exports saw a pronounced reduction. The most prominent rate of growth was recorded in 2016 when exports increased by 38% against the previous year. The global exports peaked at 16K tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ureines exports contracted to $191M in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 62% against the previous year. Over the period under review, the global exports attained the peak figure at $237M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports By Country

In 2022, China (2.5K tons), Germany (2.2K tons), Israel (1.9K tons) and Malaysia (1.5K tons) was the major exporter of ureines and their derivatives and salts thereof in the world, committing 65% of total export. Thailand (650 tons) took the next position in the ranking, followed by Hungary (630 tons) and the Netherlands (582 tons). All these countries together took approx. 15% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +30.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest ureines supplying countries worldwide were Germany ($52M), China ($38M) and Israel ($25M), together comprising 60% of global exports. Malaysia, Hungary, the Netherlands and Thailand lagged somewhat behind, together comprising a further 11%.

Malaysia, with a CAGR of +30.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average ureines export price amounted to $15,433 per ton, rising by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2018 an increase of 30% against the previous year. The global export price peaked at $19,170 per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($23,463 per ton), while Thailand ($2,762 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform