.
.
Urea is of great importance in agriculture and polymer industries.
Urea as the world’s most commonly applied nitrogen fertilizer is produced more than any other organic chemical.
Urea fertilizer, containing 46% nitrogen, is the most concentrated nitrogen fertilizer so it is the cheapest form of nitrogen fertilizer to transport and very welcomed in developing countries.
With growing improvements in agriculture industry, the consumption of urea is expected to boost further.
The major urea players of the world – including the biggest importers and exporters as well as top producers and consumers- are China, India, USA, and Russia, so any change in their economic and agriculture industry directly influence the urea fertilizer price.
.
The bellow picture demonstrates the key drivers of urea market:
