South Korea Urea Market Size & Outlook, 2025-2028
South Korea Urea Market Size
According to Straits Research analysis, the South Korea Urea Market was valued at USD 2536.78 Million in 2024 and is projected to reach USD 2858.33 Million by 2028, expanding at a CAGR of 3% during the forecast period. This growth is mainly driven by its use in the agriculture sector as a nitrogenous fertilizer and in chemicals industries as a base material for manufacturing urea-formaldehyde resins. The energy industry also contributes to demand, specifically for the production of urea-based liquid fuels. Emerging trends include sustainable and low-carbon production methods, alongside technological advancements in manufacturing processes. South Korea's potential for greater export opportunities, leveraging its advanced urea production capabilities, is another significant growth factor. South Korea is strategically positioning itself as a versatile player in the global urea market, banking on its advanced industrial sector and increasing global demand.
Source: Straits Research Analysis Company Publications, Primary Interviews.
South Korea Urea Market Highlights
- By segment, Solid emerged as the largest Type in terms of market size in 2024.
- Liquid is anticipated to remain the most attractive Type segment, recording the fastest growth during the forecast period.
- In 2024, South Korea represented 2.57% of the overall global urea market size.
- China is projected to lead the global urea market size by 2028.
- Across Asia Pacific, China is anticipated to hold the dominant position in market by 2028.
- India is forecasted to expand at the fastest pace in Asia Pacific, attaining USD 58503 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 2536.78 Million |
| Market Size In 2028 | USD 2858.33 Million |
| Largest segment | Solid |
| Fastest segment | Liquid |
| Units | Revenue in USD Million |
| CAGR | 3% (2025-2028) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
South Korea Urea Market Share By Type
Segmentation Covered
| Segments | Sub Segments |
|---|---|
| Type |
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| End-use |
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South Korea Urea Market By Type 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
South Korea Urea Market By End-use 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
