Urea, chemically represented as H2NCONH2, stands as the diamide derivative of carbonic acid and is alternatively known as carbamide. Its primary applications encompass serving as a fertilizer and supplement for animal feed, along with being a fundamental component in the production of plastics and pharmaceuticals. This crystalline, colorless compound possesses a melting point of 132.7°C (271°F) and decomposes prior to reaching its boiling point.
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As the principal nitrogenous byproduct resulting from the breakdown of proteins in mammals and certain fish, urea is present in urine, blood, bile, milk, and sweat across all mammalian species. On an industrial scale, urea is manufactured in significant quantities through the combination of liquid ammonia and liquid carbon dioxide, commonly used in blended fertilizers.
Leading the global export of urea are countries such as Russia, China, Oman, Qatar, and Saudi Arabia. Conversely, primary importers of this compound include India, Brazil, the United States, Australia, and Turkey.
Key Details About the Urea Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Urea price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Urea Price trends, including India Urea price, USA Urea price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Urea Price Trend:
Urea serves as a fundamental ingredient in producing various chemicals, spanning a broad spectrum from plastics to urea-formaldehyde resins and adhesives. Its significance extends to being a crucial component in manufacturing feedstock, glue, fertilizers, commercial goods, and resins. The majority, over 90 percent, of globally manufactured urea is utilized for nitrogen-release fertilizers. In addition, its industrial applications range from being a non-corrosive alternative to rock salt for de-icing to contributing to the maintenance of snowboarding half pipes and terrain parks. Moreover, it plays a pivotal role in animal feed as an affordable nitrogen source that fosters growth, as well as in the production of explosives.
Key Players:
- QAFCO or Qatar Fertiliser Company
- Yara International ASA
- Koch Fertilizer, LLC
- SABIC
- OCI N.V.
- CF Industries Holdings, Inc.
- EuroChem Group AG
- OSTCHEM
- PotashCorp
- China National Petroleum Corporation
- Ruixing Group Co., Ltd
- Luxi Chemical Group Co., Ltd.
- Shandong Hualu-Hengsheng Chemical Co., Ltd.
- Sichuan Lutianhua Co., Ltd. (Lutianhua)
News & Recent Development
- April 14, 2023: The prices for urea are consistently falling globally because of the lack of key markets as European prices continue to be under USD 500/MT and Middle East FOB stages are continuously going below USD 300/MT. Since India will not enter the worldwide market with a tender till June this year, it will add pressure on prices in the upcoming months prior to the announcement of the tender.
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