The global urea capacity is poised to see considerable growth by 2030, potentially increasing from 218.21 million tons per annum (mtpa) in 2019 to 301.55 mtpa in 2030, registering a total growth of 38%. India accounts for 21% of global capacity additions by 2030.
The company’s report, ‘Global Urea Capacity and Capital Expenditure Outlook, 2020-2030’, reveals that India accounts for the highest capacity additions with a capacity of 16.84 mtpa by 2030. Major capacity additions will be from Reliance Industries Jamnagar Urea Plant with a capacity of 2.60 mtpa by 2030.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, says: “India is set to have large capacity additions to meet its large and growing demand and to curb its import dependence.”
GlobalData identifies Iran as the second highest country in terms of capacity additions, with a capacity of 15.30 mtpa by 2030. Major capacity additions will be from Hamoon Chabahar Urea Plant, with a capacity of 1.33 mtpa by 2030.
Russia will be the third highest country in terms of capacity additions, with a capacity of 12.04 by 2030. Major capacity additions will be from LUKOIL Oil Company Budyonnovsk Urea Plant, with a capacity of 2.00 mtpa by 2030.
Dangote Industries Ltd, Persian Gulf Petrochemical Industries Co 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.