For the Quarter Ending June 2023
North America
In the North American market, the second quarter of 2023 saw a decline in Urea prices due to decreasing prices of its feedstock Ammonia and upstream Natural Gas. The low water levels in the Mississippi River, caused by high temperatures, affected exports from the USA to other countries, leading to surplus availability of Urea in the market. Hesitant consumer behavior, rising inflationary pressure, and the global economic slowdown further impacted demand. The collapse of two major banks in the USA also contributed to the contraction of the market. Despite a slight revival in demand in May, it tumbled again in June. However, the Consumer Price Index of the USA showed a marginal rise, indicating a potential increase in the future.
APAC
Throughout the second quarter of 2023, Urea prices in the APAC region showed a downward trend. This was primarily influenced by declining demand from the end-user fertilizer segment, declining prices of feedstock Ammonia and upstream Coal, and reduced procurement orders from international markets like India and South Korea. Below-normal rainfall in India resulted in a decrease in Kharif sowing, further weakening the fertilizer market. China's reduced exports and depreciating demand from the end-user market also contributed to the narrowed demand-supply gap and lower prices. The Purchasing Manager Index and industrial growth rate in China also declined during this period.
Europe
In the European market, the prices of Urea and other fertilizers have been impacted by the ongoing war between Russia and Ukraine, growing inflationary pressure, and economic slowdown. The European Central Bank's decision to raise interest rates made buyers hesitant to make bulk purchases. The blast in the Ammonia pipeline in Russia led to surplus availability, while declined demand from the end-user fertilizer segment created a situation of oversupply. The Producers' Price Index of the region also declined. Overall, the market situation for Urea remained bearish with low buying enthusiasm.
Get Real Time Prices of Urea: https://www.chemanalyst.com/Pricing-data/urea-1190
South America
Imported Urea prices in Brazil declined throughout the second quarter, mainly due to decreased prices in exporting countries like China and diminished demand from the end-user fertilizer market. The dry season in Brazil impacted farming activities and led to reduced purchasing activities from the fertilizer sector. The government's decision to hike interest rates further discouraged bulk purchases. Despite sufficient availability, only a portion of the material was sold, resulting in a narrowed demand-supply gap.
Saudi Arabia
Similar to the global market trend, Urea prices in Saudi Arabia declined in the second quarter of 2023. Weak demand from the fertilizer industry and declining prices of feedstock Ammonia and Natural Gas contributed to this decline. Cheap shipments from the Russian Federation also forced market participants in Saudi Arabia to keep their prices low. Despite these challenges, there are plans to establish a fertilizer plant in the Kingdom to boost agricultural production.
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The Global Urea-Formaldehyde Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.
The report classifies the market into different segments.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global Urea-Formaldehyde Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 @ https://www.decisiondatabases.com/ip/43763-urea-formaldehyde-market-reportThe report also covers the complete competitive landscape of the global Urea-Formaldehyde market with company profiles of key players such as: BASFDuPontSABICThe Dow ChemicalEastman ChemicalBayerINEOS GroupNova ChemicalsChevron Phillips ChemicalExxon Mobil ChemicalHexionLyondellBasell IndustriesMitsubishi ChemicalNatureWorksNovamont S.p.A.The detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT: By TypeUrea Formaldehyde PowderUrea Formaldehyde SolutionBy ApplicationFurniture & Home AppliancesElectrical & ElectronicsAutomotiveAgricultureOtherBy GeographyNorth America (NA) – US, Canada, and MexicoEurope (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of EuropeAsia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APACLatin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin AmericaMiddle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South AfricaDownload Free Sample Report of Global Urea-Formaldehyde Market @ https://www.decisiondatabases.com/contact/download-sample-43763The Global Urea-Formaldehyde Market has been exhibited in detail in the following chapters –Chapter 1 Urea-Formaldehyde Market Preface Chapter 2 Executive SummaryChapter 3 Urea-Formaldehyde Industry AnalysisChapter 4 Urea-Formaldehyde Market Value Chain AnalysisChapter 5 Urea-Formaldehyde Market Analysis By TypeChapter 6 Urea-Formaldehyde Market Analysis By ApplicationChapter 7 Urea-Formaldehyde Market Analysis By GeographyChapter 8 Competitive Landscape Of Urea-Formaldehyde CompaniesChapter 9 Company Profiles Of Urea-Formaldehyde IndustryPurchase the complete Global Urea-Formaldehyde Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-43763Other Reports by DecisionDatabases.com:Global Formaldehyde Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Melamine Formaldehyde Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Paraformaldehyde Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
The Global Urea-Formaldehyde Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.The report classifies the market into different segments.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global Urea-Formaldehyde Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 @ https://www.decisiondatabases.com/ip/43763-urea-formaldehyde-market-reportThe report also covers the complete competitive landscape of the global Urea-Formaldehyde market with company profiles of key players such as: BASFDuPontSABICThe Dow ChemicalEastman ChemicalBayerINEOS GroupNova ChemicalsChevron Phillips ChemicalExxon Mobil ChemicalHexionLyondellBasell IndustriesMitsubishi ChemicalNatureWorksNovamont S.p.A.The detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT:By TypeUrea Formaldehyde PowderUrea Formaldehyde SolutionBy ApplicationFurniture & Home AppliancesElectrical & ElectronicsAutomotiveAgricultureOtherBy GeographyNorth America (NA) – US, Canada, and MexicoEurope (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of EuropeAsia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APACLatin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin AmericaMiddle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South AfricaDownload Free Sample Report of Global Urea-Formaldehyde Market @ https://www.decisiondatabases.com/contact/download-sample-43763The Global Urea-Formaldehyde Market has been exhibited in detail in the following chapters –Chapter 1 Urea-Formaldehyde Market PrefaceChapter 2 Executive SummaryChapter 3 Urea-Formaldehyde Industry AnalysisChapter 4 Urea-Formaldehyde Market Value Chain AnalysisChapter 5 Urea-Formaldehyde Market Analysis By TypeChapter 6 Urea-Formaldehyde Market Analysis By ApplicationChapter 7 Urea-Formaldehyde Market Analysis By GeographyChapter 8 Competitive Landscape Of Urea-Formaldehyde CompaniesChapter 9 Company Profiles Of Urea-Formaldehyde IndustryPurchase the complete Global Urea-Formaldehyde Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-43763Other Reports by DecisionDatabases.com:Global Formaldehyde Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Melamine Formaldehyde Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Paraformaldehyde Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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