Japan's METI granted a $3 billion CfD subsidy to ACME-IHI for 228,000 t/y green ammonia exports from India starting 2030. The program reduces price risk for producers and secures offtake by Japanese users, encouraging low-carbon ammonia production and likely stabilizing green ammonia prices in the long run.
Evonik sharply raised its 2026 earnings forecast after a strong Q2, driven by higher volumes, improved pricing, and cost reductions. The company also benefited from supply disruptions affecting Asian competitors. The improved pricing points to upward pressure on product prices in the short term, though the company warns the advantage may fade as global shipping normalizes.
Asia
In Q2’25, the Thiourea market in Asia saw a mixed but overall firm trend, shaped by seasonal agricultural demand and persistent logistical constraints. The quarter began with strong fertilizer consumption, especially in Southeast Asia during the rice and maize planting season. Demand remained healthy as countries like Indonesia and Vietnam increased application rates, while regional buyers restocked supplies.
However, pricing fluctuations were influenced by port congestion and shipping delays, particularly in China, where major ports struggled with increased cargo volumes and adverse weather. Though local production stayed stable, cautious purchasing and inventory buildup led to moderate price movements. Export activity from China stayed active but constrained due to long-term contracts and limited available shipping windows.
Europe
Thiourea prices in Europe initially remained under pressure during April and May due to soft agricultural demand and steady availability. However, market sentiment shifted in June as geopolitical tensions intensified, impacting regional supply chains. Transportation challenges due to low water levels on key trade routes and maintenance shutdowns at manufacturing sites created tightness in supply.
Further, the broader European fertilizer market experienced upward price pressure due to heightened freight risks and disrupted trade flows from major exporting regions. As a result, Thiourea prices edged higher toward the end of the quarter, driven by rising concerns over future availability and increased procurement activity.
North America
In North America, Thiourea prices moved upward through Q2’25, supported by a combination of supply constraints and weather-related disruptions. Facility outages and storm-related delays affected the domestic movement of agricultural inputs. Meanwhile, increased local demand during the spring planting season added to the pressure. Geopolitical uncertainty and new import tariffs led to reduced imports and a greater reliance on domestic supply, which was already under strain. These factors combined to push prices higher throughout the quarter, with buyers securing volumes early to avoid further market volatility.
Analyst Insight
According to Procurement Resource, Thiourea prices are expected to remain sensitive to global supply chain disruptions and seasonal agricultural demand, particularly in Asia and North America.
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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.
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.
Thiourea has a faint odor and naturally occurs as a white crystalline solid. The compound has high solubility in water and a number of organic solvents. It also has the ability to aid in complex formation in various industrial processes. Due to its reducing nature, it can be used in textiles, metal cleaning, and photography; however, handling it should be done carefully.
CH4N2S
Fertilizers, Metal cleaning and electroplating, Textile industry, Semiconductor industry
Hebei Xinji Chemical Group Co Ltd, Guizhou Hongkai Chemial Co Ltd, Hongye Chemical Co Ltd, Shandong Tianfeng, Biotechnology Co Ltd, Acuro Organics Limited
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Ammonium thiocyanate is first heated at around 432 K, which decomposes the salt and, after isomerization, produces thiourea.
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