Latin America Urea Market Size & Outlook, 2025-2028
Latin America Urea Market Size
According to Straits Research analysis, the Latin America Urea Market was valued at USD 3415.68 Million in 2024 and is projected to reach USD 4115.03 Million by 2028, expanding at a CAGR of 4.8% during the forecast period. Agriculture is the primary driver of urea demand in Latin America, followed by the chemical and energy industries. Urea's diverse uses include fertilizer, feed supplements, and as a raw material in the manufacture of resins and plastics. Emerging trends such as green production and sustainability measures, technological advancements, and robust export potential further propel the market’s growth. Latin America, leveraging its abundant natural resources and strategic geographic positioning, aims to assert itself as the global destination for environment-friendly and cost-effective urea production.
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Urea Market Highlights
- Within Type, Solid accounted for the largest market size in 2024.
- During the forecast period, Liquid is anticipated to remain the highest-growth segment within the Type category.
- The global urea market size saw Latin America holding a share of 3.46% in 2024.
- China is forecasted to account for the leading share of the global market by 2028.
- In Latin America, Mexico is forecasted to be the fastest-expanding market, projected to reach USD 4707 Million by 2028.
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Report Summary
| Report Scope | Details |
|---|---|
| Base Year for Study | 2024 |
| Study Period | 2021-2028 |
| Historical Period | 2021-2023 |
| Forecast Period | 2025-2028 |
| Market Size In 2024 | USD 3415.68 Million |
| Market Size In 2028 | USD 4115.03 Million |
| Largest segment | Solid |
| Fastest segment | Liquid |
| Units | Revenue in USD Million |
| CAGR | 4.8% (2025-2028) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
Latin America Urea Market Share By Type
Segmentation Covered
| Segments | Sub Segments |
|---|---|
| Country |
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| Type |
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| End-use |
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Latin America Urea Market By Country 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Urea Market By Type 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Urea Market By End-use 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
