New Analysis: Market Analytics Ammonia and Urea - 2020
NexantECA, the Energy and Chemicals Advisory company publishes a new report, Market Analytics: Ammonia and Urea – 2020
The ammonia and urea industries represent significant and vital components of the chemical economy. They serve as significant sources of revenue and employment, in particular within countries with significant availability of feedstocks such as natural gas and coal. The principal application of ammonia and urea is within the fertilizer sector, which is critical to agricultural production and the wider world economy.
NexantECA has published a new report Market Analytics: Ammonia and Urea – 2020 which provides analysis and forecast to 2045 of supply and demand of the global ammonia and urea markets. This analysis identifies the issues shaping the industry as well as provide demand, supply and net trade data for 40 countries.
Global ammonia consumption in 2020 was estimated at nearly 190 million tons, driven primarily by urea consumption, which in turn is mainly a function of fertilizer demand.
Fertilizer demand growth has historically been linked to food consumption through GDP and population growth. This trend is expected to continue, although in recent years this dynamic has begun to change somewhat, due to the rapid growth in biofuels production (mainly bioethanol) made from corn and wheat, and biodiesel made from soya, palm and rapeseed oil.
New Analysis on Ammonia & Urea markets
Global demand growth from 2019 was modest given strong demand for fertilizers against subdued industrial consumption at the beginning of the year due to disruption from the COVID-19 pandemic. Despite interruptions to global trade, governments across the world have prioritised food security, hence little impact has been seen in overall fertilizer consumption of ammonia and urea globally.
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Market Analytics: Ammonia and Urea - 2020 is one in a series of reports published as part of NexantECA’s Markets & Profitability program. The Markets and Profitability program tracks over 60 feedstocks, petrochemicals, polymers, chemical intermediates and fertilizers on an ongoing basis and provides regularly updated reports covering all commercial aspects of these global industries.