According to GlobalData, the global urea capacity is posed to see considerable growth by 2030, potentially increasing from 218.21 million tpy in 2019 to 301.55 million tpy in 2030, registering a total growth of 38%.
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 by 2030, 21% of global capacity additions. Major capacity additions will be from Reliance Industries Jamnagar urea plant with a capacity of 2.6 million tpy by 2030.
Dayanand Kharade, Oil and Gas Analyst at GlobalData, said: "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 15.3 million tpy by 2030. Major capacity additions will be from Hamoon Chabahar Urea Plant, with a capacity of 1.33 million tpy by 2030.
Russia will be the third highest country in terms of capacity additions, with a capacity of 12.04 million tpy by 2030. Major capacity additions will be from LUKOIL Oil Company Budyonnovsk Urea Plant, with a capacity of 2 million tpy by 2030.
Dangote Industries Ltd, Persian Gulf Petrochemical Industries Co. and Fertilizer Co. of India Ltd will be the top three companies globally in terms of planned and announced capacity additions over the outlook period.
Source from: World Fertilizer