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Ammonia Market Overview
Ammonia Market Size was valued at USD 68.5 billion in 2021. The ammonia market industry is projected to grow from USD 73.04 Billion in 2022 to USD 114.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.64% during the forecast period (2022 – 2030).
Ammonia market is garnering substantial traction, witnessing an augmenting demand. Massive consumption of ammonia in the production of fertilizers is driving a large share of the market. Besides, rising demand from several burgeoning industries such as agrochemicals, fibers & plastics, pharmaceutical, and pulp & paper, foster the growth of the market. Moreover, massive investments in the agriculture sector worldwide is escalating the market growth to furthering heights.
Furthermore, the steadily growing demand for ammonia as an alternative fuel in power generation & transportation is predicted to generate significant growth opportunities for the market players. On the flip side, stringent emission regulations against ammonia refrigeration systems are estimated to hinder the growth of the market during the years to follow.
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Ammonia Market – Segments
Ammonia Application
Fertilizers
Chemicals
Refrigeration
Fibers and Plastics
Pharmaceutical
Pulp and Paper and Others
Ammonia Form Outlook
Liquid
Powder and Gas
By Regions
Europe
Americas
Asia Pacific
Middle East & Africa
Rest-of-the-World
Ammonia Market – Regional Analysis
The Asia Pacific region dominates the global Ammonia market, mainly due to the expanding ammonia applications in the region. Besides, rising consumption of ammonia in various sectors such as fertilizer, chemicals, refrigeration, fibers & plastics, pharmaceutical, pulp & paper, and others impacts the regional market growth, positively.
Simultaneously, the high production and exportation of agrochemical capacities in China, Indonesia, Thailand, and India, are expected to influence the market growth positively. The ever-increasing population, alongside the rapid industrialization in the region, provide a considerable impetus to the market growth, prompting higher demand for food. Besides, the cost-competitive logistics (land & labor-force) and raw material advantage in the region acts as a major driving force for the market growth, attracting foreign investors.
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North America stands second in the global ammonia market, due to the extensive use of chemical fertilizers and the rapidly growing agriculture sector in the region. Moreover, factors such as the constant expansion of the F&B sector attributes to the outstanding growth of the regional market. The US, backed by the 25 production plants of ammonia and more than 15 ammonia manufacturers account for the key contributors to the regional market growth.
European Ammonia market is witnessing slow but steady growth. Stringent regulatory framework, alongside the joint proposal of ESPP for Fertilizer Regulation in EU that imposes strict recovery rules for struvites, ashes, biochars, and pyrolysis products, are posing challenges to the market growth.
However, the rising consumption of ammonia in fertilizer, chemicals, refrigeration, fibers & plastics, and pulp & paper applications is expected to support the regional market growth. Also, increasing uptake of ammonia France, Belgium, Italy, and Germany for various purposes is projected to contribute to the regional market growth.
Ammonia Market – Competitive Analysis
Highly competitive, the Ammonia market appears well-established due to the presence of many large players. To garner a larger competitive share in the market, these players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology launch. Manufacturers operating in the Ammonia market strive to deliver the best quality products developed with innovative technologies and best practices. The market demonstrates significant growth potential, which is expected to intensify the competition further, attracting many entrants to the market.
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Major Players:
Yara (Norway)
CF Industries Holdings Inc. (US)
Nutrien Ltd. (Canada)
Group DF (Ukraine)
OCI NV (Netherlands)
EuroChem Group AG (Switzerland)
SABIC (Saudi Arabia)
Acron (Russia)
Orica Limited (Australia)
Uralchem JSC (Russia)
AB ”Achema” (Lithuania)
Togliattiazot (Russia)
Indian Farmers Fertiliser Cooperative Limited (India)
Qatar Fertiliser Company (Qatar)
Koch Fertilizer
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