Report ID: 10094820 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Ammonia Market Highlights Over 2022 - 2031
The global ammonia market garnered an approximate revenue figure of USD 74 billion in the year 2021 and is estimated to grow at a CAGR of ~8% over the forecast period, i.e., 2022 – 2031. The growth of the market can be primarily attributed to the increasing population which is raising the demand for agriculture and related agrochemical products such as fertilizers. Furthermore, increasing demand for ammonia in pharmaceuticals industry is a major factor expected to drive the market growth. Additionally, ammonia’s properties of acidifying and conditioning soil, as well as growing awareness about producing better quality crops are anticipated to boost the demand for ammonia. As sourced from the Food and Agriculture Organization (FAO), the global supply of ammonia in the year 2020 accounted to 170,761 thousand tons.
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Ammonia is an inorganic compound that consists of nitrogen and hydrogen with the formula, NH3. The agricultural industry is the primary consumer of ammonia since the nitrogen chemical is used as a major source of nutrition, which is essential for the growth of plant. Besides, ammonia is also used in the production of different liquid fertilizer solutions that consists of aqua ammonia, ammonium nitrate, and urea. However, the onset of COVID-19 pandemic has ruptured the production and supply chain activities of the chemical compound. The pandemic has had a severe impact on the economy across the globe and its impact has affected several end-use industries, particularly industrial chemicals, such as those which manufacture ammonia-based explosives. Although, the utilization rates are anticipated to improve with economic recuperation post-pandemic.
The global ammonia market is bifurcated by form and by end-users. The end users segmented is further divided into fertilizers, chemicals, refrigeration, textile, household & industrial cleaning, fibers & plastics, pharmaceuticals, and others. Among these segments, the fertilizers segment is anticipated to show notable growth by growing at a significant CAGR over the forecast period. The growth of the segment is expected to be driven on the account of growing demand for better crop production, development of advanced farming techniques, and rising utilization of bio-fertilizers. Additionally, NH3 is an important component for ammonium nitrate fertilizers which releases nitrogen that is an essential nutrient for plant growth. It maintains healthy crop and keeps the soil productive, which in turn, is estimated to add in the growth of the segment.
Global Ammonia Market Regional Synopsis
Regionally, the global ammonia market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region witnessed a noteworthy growth in the past few decades and generated significant revenue in the year 2021. It is further estimated to grow at a higher CAGR over the forecast period on the back of a rapidly growing population, increasing support initiatives by the government, growing adoption of fertilizers among the agriculture industry, and increasing need for crop production. According to the Organization of Economic Co-operation and Development, (OECD-FAO), the Asia Pacific region is estimated to account for 53% of global agriculture output by the end of the year 2030. On the other hand, the market in Europe region is also anticipated to grow with a modest CAGR during the forecast period. The growth of the market is associated with the increasing production of NH3 in the form of natural gas, which serves as a key element for many industries with steam methane reforming serving as a major technology.
Market Segmentation
Our in-depth analysis of the global ammonia market includes the following segments:
By Form
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Liquid
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Powder
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Gas
By End Users
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Fertilizers
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Chemicals
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Refrigeration
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Textile
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Household & Industrial Cleaning
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Fibers & Plastics
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Pharmaceutical
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Others
Growth Drivers and Challenges Impacting the Growth of the Global Ammonia Market
Growth Drivers
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Increasing crop production
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Rising global population
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Increasing use of ammonia in the production of explosives
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Growing demand for fertilizers
Challenges
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High concentration of NH3 affecting human health
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Surging ammonia emissions
Key Companies Dominating the Global Ammonia Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global ammonia market that are included in our report are OCI N.V., Nutrien Ltd., Orica Limited, Dow Chemical Company, Praxair Technology, Inc., MITSUBISHI GAS CHEMICAL COMPANY, INC., AB “Achema”, Koch Fertilizer, LLC., Incitech Pivot limited, and Linde plc among others.
Latest Developments in the Global Ammonia Market:
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29 November 2021: OCI N.V. announced that Iowa Fertilizer Company, owned by OCI N.V., signed an agreement with Navigator CO2 Ventures LLC, with the aim of providing transportation for CO2 and storage services within its carbon capture and storage (CCS) system.
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29 July 2021: Nutrien Ltd. announced a collaboration agreement with EXMAR, a company that deals in liquified gas transportation. The agenda of this partnership is to reduce maritime emissions by developing a low-carbon ammonia-fueled vessel.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the client's requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Frequently Asked Question
The fertilizers segment is anticipated to show notable growth by growing at a significant CAGR over the forecast period and display significant growth opportunities.
The market is segmented by form, end users, and by region.
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Report ID: 10094820 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
