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GlobalData: India to lead global urea capacity additions by 2030

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World Fertilizer,

Asia is forecast to lead the global urea capacity additions with capacity of 25.27 million tpy by 2030. Within Asia, India will account for more than three-fourths of the region’s capacity additions and it is expected to lead the global urea capacity additions by 2030, according to GlobalData.

GlobalData’s report, ‘Global Urea Capacity and Capital Expenditure Outlook to 2030 – India and Iran Lead Global Urea Capacity Additions’, reveals that the global urea capacity is poised to see considerable growth over the next five years, potentially increasing from 222.96 million tpy in 2020 to 305.92 million tpy in 2030, registering a total growth of 37%. Around 89 planned and announced plants are scheduled to come online, predominantly in Asia and Africa, over the next five years.

Vinuthna Bidar, Oil and Gas Analyst at GlobalData, says: "India will dominate the global urea market, with both the biggest number of new projects and the largest absolute capacity addition driven by its economic growth. India is set to build around 21 urea projects in the next five years.”

GlobalData identifies Iran as the second-highest country in terms of capacity additions with the capacity of 11.88 million tpy by 2030. Major capacity additions will be from a planned plant Hamoon Chabahar Urea Plant, with a capacity of 1.33 million tpy by 2030.

Nigeria will be the third-highest country in terms of capacity additions with a capacity of 11.58 million tpy by 2030. Major capacity additions will be from two planned plants Dangote Group Lekki Urea Plant 1 and Dangote Group Lekki Urea Plant 2 with a capacity of 1.50 million tpy each by 2030.

Dangote Industries Ltd, Nagarjuna Fertilizers and Chemicals Ltd and Fertilizer Corporation of India Ltd will be the top three companies globally in terms of planned and announced capacity additions over the outlook period.

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