Report Update Nov 1, 2024

Ecuador - Urea - Market Analysis, Forecast, Size, Trends and Insights

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Ecuador: Urea Market 2024

Urea Market Size in Ecuador

In 2022, after two years of growth, there was significant decline in the Ecuadorian urea market, when its value decreased by -79.7% to $X. Overall, consumption continues to indicate a abrupt decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Urea Exports

Exports from Ecuador

Urea exports from Ecuador contracted remarkably to X tons in 2022, with a decrease of -30.7% on 2021. Overall, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of 159%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, urea exports shrank dramatically to $X in 2022. In general, exports saw a deep contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 138%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Sudan (X tons) was the main destination for urea exports from Ecuador, with a 95% share of total exports. Moreover, urea exports to Sudan exceeded the volume sent to the second major destination, Peru (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sudan amounted to -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-35.1% per year) and Colombia (-41.2% per year).

In value terms, Sudan ($X) remains the key foreign market for urea exports from Ecuador, comprising 86% of total exports. The second position in the ranking was taken by Peru ($X), with an 8.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Sudan stood at -8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-28.7% per year) and Colombia (-34.6% per year).

Export Prices by Country

In 2022, the average urea export price amounted to $X per ton, surging by 6.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 87%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Sudan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+11.3%), while the prices for the other major destinations experienced mixed trend patterns.

Urea Imports

Imports into Ecuador

In 2022, urea imports into Ecuador shrank notably to X tons, with a decrease of -80.4% on the year before. In general, imports showed a abrupt decrease. The growth pace was the most rapid in 2018 when imports increased by 28%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, urea imports dropped sharply to $X in 2022. Over the period under review, imports showed a deep reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 39% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of urea to Ecuador, accounting for a 62% share of total imports. Moreover, urea imports from Russia exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Indonesia (X tons) ranked third in terms of total imports with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.5% per year) and Indonesia (-14.6% per year).

In value terms, Russia ($X) constituted the largest supplier of urea to Ecuador, comprising 60% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Indonesia, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value from Russia amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.4% per year) and Indonesia (-14.1% per year).

Import Prices by Country

The average urea import price stood at $X per ton in 2022, increasing by 5.2% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 71% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for urea in the world?

India constituted the country with the largest volume of urea consumption, accounting for 26% of total volume. Moreover, urea consumption in India exceeded the figures recorded by the second-largest consumer, China, threefold. The United States ranked third in terms of total consumption with a 5.9% share.

What are the largest producers of urea in the world?

The countries with the highest volumes of urea production in 2021 were India, China and Russia, with a combined 41% share of global production. These countries were followed by Iran, Indonesia, Pakistan, Qatar, Saudi Arabia, Oman, Canada, the United Arab Emirates, Algeria and Vietnam, which together accounted for a further 39%.

What are the leading suppliers of urea to Ecuador?

In value terms, Venezuela, Russia and Ukraine were the largest urea suppliers to Ecuador, with a combined 84% share of total imports. China, Italy, Indonesia and the Netherlands lagged somewhat behind, together comprising a further 12%.

What are the leading importers of urea from Ecuador?

In value terms, Sudan emerged as the key foreign market for urea exports from Ecuador, comprising 86% of total exports. The second position in the ranking was occupied by Peru, with an 8.8% share of total exports.

What is the average export price for urea in Ecuador?

The average urea export price stood at $433 per ton in 2021, which is down by -20.3% against the previous year.

What is the average import price for urea in Ecuador?

The average urea import price stood at $215 per ton in 2021, with a decrease of -13.4% against the previous year.

This report provides an in-depth analysis of the urea market in Ecuador. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4001 -

Country coverage:

Ecuador

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ecuador
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023