Report Update Nov 1, 2024

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

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Ireland: Urea Market 2024

Urea Market Size in Ireland

In 2022, the Irish urea market increased by 157% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption continues to indicate prominent growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Urea Exports

Exports from Ireland

In 2022, shipments abroad of urea decreased by 0% to X tons, falling for the third year in a row after six years of growth. In general, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 124%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, urea exports amounted to $X in 2022. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 86% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The UK (X tons) was the main destination for urea exports from Ireland, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the UK amounted to +66.5%.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK amounted to +71.9%.

Export Prices by Country

The average urea export price stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the export price saw a remarkable increase. The growth pace was the most rapid in 2020 an increase of 64%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to +3.2% per year.

Urea Imports

Imports into Ireland

In 2022, overseas purchases of urea decreased by 0% to X tons, falling for the fourth consecutive year after two years of growth. Overall, imports posted a buoyant increase. The growth pace was the most rapid in 2015 when imports increased by 62% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, urea imports stood at $X in 2022. Over the period under review, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 50%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Algeria (X tons), Egypt (X tons) and Russia (X tons) were the main suppliers of urea imports to Ireland, together accounting for 72% of total imports.

From 2012 to 2022, the biggest increases were recorded for Algeria (with a CAGR of +43.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Algeria ($X), Egypt ($X) and Russia ($X) appeared to be the largest urea suppliers to Ireland, together comprising 75% of total imports.

Algeria, with a CAGR of +56.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average urea import price stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the import price enjoyed resilient growth. The growth pace was the most rapid in 2018 an increase of 8.8% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.8%), 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, comprising approx. 26% of total volume. Moreover, urea consumption in India exceeded the figures recorded by the second-largest consumer, China, threefold. The third position in this ranking was occupied by the United States, 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, together comprising 41% 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 Ireland?

In value terms, the largest urea suppliers to Ireland were Russia, Egypt and Algeria, with a combined 57% share of total imports. The UK, Lithuania, the Netherlands and Belgium lagged somewhat behind, together accounting for a further 39%.

What are the leading importers of urea from Ireland?

In value terms, the UK remains the key foreign market for urea exports from Ireland.

What is the average export price for urea in Ireland?

The average urea export price stood at $284 per ton in 2021, picking up by 16% against the previous year.

What is the average import price for urea in Ireland?

In 2021, the average urea import price amounted to $320 per ton, surging by 6% against the previous year.

This report provides an in-depth analysis of the urea market in Ireland. 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:

Ireland

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ireland
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
Find deeper insights into current market developments
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