Report Update Nov 1, 2024

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

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Turkey: Urea Market 2024

Urea Market Size in Turkey

The Turkish urea market skyrocketed to $X in 2021, surging by 24% against the previous year. In general, consumption continues to indicate a perceptible slump. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Urea Production in Turkey

In value terms, urea production rose notably to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 53% against the previous year. Over the period under review, production hit record highs in 2021 and is likely to continue growth in the immediate term.

Urea Exports

Exports from Turkey

Urea exports from Turkey expanded notably to X tons in 2022, surging by 7.4% on 2021 figures. Over the period under review, exports saw a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 539%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, urea exports reduced modestly to $X in 2022. Overall, exports showed significant growth. The growth pace was the most rapid in 2015 with an increase of 378% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Iran (X tons), Bulgaria (X tons) and Ukraine (X tons) were the main destinations of urea exports from Turkey, with a combined 52% share of total exports. Italy, Croatia, Israel, Romania, Switzerland, Spain, Germany, the United States, the Czech Republic and Austria lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +344,247.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) emerged as the key foreign market for urea exports from Turkey, comprising 28% of total exports. The second position in the ranking was held by Ukraine ($X), with a 13% share of total exports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran amounted to +95.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+35.4% per year) and Italy (-4.8% per year).

Export Prices by Country

In 2022, the average urea export price amounted to $X per ton, dropping by -10.3% against the previous year. Over the period under review, the export price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 an increase of 56%. The export price peaked at $X per ton in 2013; however, from 2014 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 the Czech Republic ($X per ton), while the average price for exports to Bulgaria ($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 Italy (+0.6%), while the prices for the other major destinations experienced a decline.

Urea Imports

Imports into Turkey

In 2022, purchases abroad of urea increased by 95% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports recorded a buoyant increase. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, urea imports soared to $X in 2022. In general, imports recorded prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Egypt (X tons), Turkmenistan (X tons) and Russia (X tons) were the main suppliers of urea imports to Turkey, together comprising 74% of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkmenistan (with a CAGR of +50.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest urea suppliers to Turkey were Egypt ($X), Turkmenistan ($X) and Russia ($X), together comprising 71% of total imports.

Among the main suppliers, Turkmenistan, with a CAGR of +63.6%, recorded the highest growth rate of the value of imports, 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, picking up by 67% against the previous year. Over the period under review, the import price saw pronounced growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+25.1%), 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 remains the largest urea consuming country worldwide, comprising approx. 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. Iran, Indonesia, Pakistan, Qatar, Saudi Arabia, Oman, Canada, the United Arab Emirates, Algeria and Vietnam lagged somewhat behind, together accounting for a further 39%.

What are the leading suppliers of urea to Turkey?

In value terms, Egypt, Turkmenistan and Iran were the largest urea suppliers to Turkey, with a combined 81% share of total imports. Azerbaijan and Libya lagged somewhat behind, together comprising a further 12%.

What are the leading importers of urea from Turkey?

In value terms, Romania emerged as the key foreign market for urea exports from Turkey, comprising 63% of total exports. The second position in the ranking was occupied by Israel, with a 7.9% share of total exports. It was followed by Georgia, with a 4.8% share.

What is the average export price for urea in Turkey?

In 2021, the average urea export price amounted to $339 per ton, rising by 39% against the previous year.

What is the average import price for urea in Turkey?

The average urea import price stood at $254 per ton in 2021, surging by 7.9% against the previous year.

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

Turkey

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Turkey
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