Thiourea Price Trend and Forecast

Thiourea Regional Price Overview

Get the latest insights on price movement and trend analysis of Thiourea in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Thiourea Price Trend for Q1 of 2025

Asia

Throughout Q1’25, the Asian thiourea market experienced significant downward pressure as regional production capacities exceeded demand requirements. Chinese manufacturers, who dominate global production, operated at higher utilization rates following the Lunar New Year period, creating an oversupplied market condition. Downstream industries, particularly electroplating and metal finishing sectors, showed reluctance in procurement amid economic uncertainties in key markets like China and India.
 

Thiourea Price Chart

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The reduced logistics costs, following the easing of port congestion in major Chinese export hubs, further contributed to the softening prices. Japanese and South Korean buyers took advantage of this situation by adopting a cautious purchasing approach, primarily focusing on securing smaller volumes at favorable terms rather than committing to long-term contracts.

Europe

The European thiourea market displayed a relatively stable to soft trend during Q1’25. Prices initially held firm in January but gradually declined through February and March as imported material from Asia, particularly China, became more accessible and price-competitive. European manufacturers faced margin pressures due to high energy costs despite some moderation in natural gas prices compared to previous quarters. Demand from the agricultural sector remained seasonally low, while industrial applications showed limited growth.

The textile and rubber industries, significant consumers of thiourea in Europe, maintained minimal inventory levels and purchased primarily on a need-basis, reflecting overall market caution. Western European consumers benefited from this buyer-friendly market, leveraging the availability of multiple supply sources to negotiate more favorable terms.

North America

North American thiourea prices followed a similar downward trajectory during Q1’25, albeit with less volatility than observed in other regions. The market was characterized by sufficient supply availability, both from domestic production and imports. U.S. manufacturers maintained stable production levels despite facing competition from lower-priced Asian imports.

The mining sector, a key application area for thiourea in North America, showed modest demand as gold extraction activities continued at a steady pace. However, agricultural applications experienced seasonal lows typical of the winter period. The gradual easing of import tariffs on certain chemical intermediates also contributed to the softening price trend by allowing more competitive international material to enter the market.

Analyst Insight

According to Procurement Resource, Thiourea prices are expected to stabilize with a potential for moderate recovery in Q2’25, driven by anticipated seasonal demand increases from agricultural applications and possible production adjustments by major manufacturers to address current oversupply conditions.
 

Thiourea Price Trend for the Second Half of 2024

Asia

Asian Thiourea markets showed significant volatility in H2’24. In Q3, prices initially declined due to sluggish demand from the construction sector, but later increased when Typhoon Yagi disrupted chemical production in China. By Q4, the market experienced dramatic price swings with multiple rises and falls throughout the quarter. Mid-quarter, suppliers faced abundant inventories amid weak demand from cement and construction sectors. As 2024 closed, rising production costs combined with restocking urgency ahead of the Lunar New Year drove prices upward again, with suppliers raising prices to capitalize on improved market sentiment.

Europe

The European Thiourea market predominantly experienced bearish conditions during H2’24. The construction sector downturn significantly reduced product offtakes both within Europe and from importing markets. Supply remained abundant despite logistical challenges, including partial functionality of ports undergoing maintenance. By Q4, producers attempted to counter bearish sentiment by reducing operating rates, but these efforts had limited impact as industrial activities wound down for year-end holidays. With arbitrage opportunities closed, suppliers continued moving large volumes at competitive prices, further cementing the bearish trend throughout the second half of 2024.

North America

In North America, Thiourea prices experienced fluctuating trends during H2’24. The market initially witnessed price increases in early Q3, driven by logistics disruptions and delayed imports from Europe. The hurricane season, which extended through mid-November, significantly hampered transportation networks across the US. By Q4, destocking activities increased domestic supplies, pushing prices downward.

Manufacturing activities remained sluggish throughout the second half of 2024, particularly in the construction sector, which saw reduced spending due to rising mortgage rates. This consistent decline in demand, coupled with ample warehouse supplies, maintained downward pressure on Thiourea prices through the end of the year.

Analyst Insight

According to Procurement Resource, Thiourea markets globally are expected to stabilize in early 2025 as manufacturing activities resume, while persistent construction sector weakness may continue to limit demand growth.
 

Thiourea Price Trend for the First Half of 2024

Asia

In Asia, the thiourea market experienced continuous oscillations, particularly towards the lower end of the pricing spectrum, much like the urea market in the first half of the year 2024. The stability in urea prices due to consistent domestic supply and government subsidies in countries like India contributed to a similar trend in thiourea prices.

Despite some local challenges, such as reduced urea consumption in India due to the rise in other alternatives in the markets and weak demand in China, the overall market for thiourea remained steady. Additionally, the subdued buying interest and lack of significant international inquiries maintained a low-price trajectory for thiourea, in line with the static nature of urea prices.

Europe

In Europe, the thiourea market reflected the mixed performance of its feedstock urea sector. While European urea prices faced stagnation due to fluctuating demand and adverse weather conditions impacting agricultural activities, thiourea prices also showed stability. The availability of carried-over stocks of urea and increased domestic production provided a buffer against price volatility. The stability in urea prices, supported by sufficient stocks and steady supply chain operations, influenced a similar trend in thiourea prices, preventing significant price swings despite regional disruptions and geopolitical conflicts.

North America

In North America, thiourea prices aligned with the stable to slightly increasing cost of production, which in turn was based on positive prevailing sentiments of the urea market. The urea market's stability, with modest price changes and ample supply, translated into a similar pattern for thiourea. Further, the resilience of the fertilizer market, despite seasonal variations and logistical disruptions, supported thiourea prices, maintaining a consistent market environment.

Analyst Insight

According to Procurement Resource, the price of Thiourea is expected to sustain its upside momentum in the future quarters as well as the prevailing market dynamics suggest an optimistic trend.
 

Thiourea Price Trend for First Half of 2023

Asia

In the first quarter of 2023, the prices of thiourea inclined initially and then declined. The growth of the thiourea prices was supported by the rise in the cost of raw materials and demand from the downstream industries.

However, as the quarter progressed, the excess of supply and weak momentum of the Chinese market due to the poor trading sentiments of the region proved to be a struggle for the thiourea prices. The prices declined consistently in the second quarter, too, along with the persisting challenges; the cost of coal and feedstock also fell significantly, pushing the price trend of thiourea in the negative zone.

Europe

In European countries, the fertilizers sector and feedstock materials of thiourea witnessed a steep slump due to uncertainties in the cost of coal and natural gas. This led to the depletion of the costs of production, negatively affecting the price trend of thiourea.

The downfall of the fertilizers and other downstream industries led to a rise in the level of inventories, which was also affected by the poor purchasing potential of consumers in the first and second quarters of 2023. Further, the ongoing Russia-Ukraine crises caused the inflation rates to rise significantly, hurting the overall sentiments of thiourea prices.

North America

The cost of raw materials in the region suffered from the poor growth of the economy, hampering the prices of thiourea. In the first quarter, the natural gas prices fell to alarming levels while the rates of production increased by several folds. This imbalance caused the problem of excess influx of the product in the region.

These challenges persisted in the second quarter, too, which were accelerated by the extreme temperature conditions adversely affecting the export rates through water channels. In addition to this, the economic crisis caused by the failure of two major banks also added to the existing challenging conditions.

Analyst Insight

According to Procurement Resource, the price trend of Thiourea is estimated to follow an oscillating path as the market sentiments of the downstream fertilizers sector seem to be improving.

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