Ammonia Market Size, Share, By Product Form (Liquid, Gas and Powder), By Application (Fertilizers, Refrigerants, Pharmaceuticals, Textile and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Ammonia Market Size was valued at US$ 238 billion in 2024 and is projected to grow at a CAGR of 6.1% to reach US$ 407.5 billion by 2034.

Ammonia is a colorless gas highly soluble in water with a distinct pungent odor. It occurs naturally throughout the air, soil, water, plants, animals, and humans. The human body produces ammonia as a by-product when the body breaks down foods containing protein into amino acids and ammonia and then converts the ammonia into urea. Ammonia is crucial for many biological processes as it is a precursor for amino acid and nucleotide synthesis. Ammonia is a fundamental building block for ammonium nitrate fertilizer that releases nitrogen, an essential nutrient for growing plants. Ammonia is also used in pharmaceuticals, mining, pulp & paper, fiber and plastic industries.

The growing demand for ammonium nitrate fertilizers in the agriculture sector is a major driving force for the growth of the global ammonia market. Further, ammonia is used as a raw material for the preparation of nitric acid, which is used in the formation of plastics and fertilizers, another factor that is helping to flourish the target market. Moreover, refrigeration is another important use of ammonia, which helps with food preservation and acts as a cold storage, supporting the growth of the global ammonia market.

In addition, ammonia is also used in the food and beverage industry as a source of nitrogen for yeast and microorganisms, which can further propel the global ammonia market. Furthermore, ammonia is also used in wastewater treatment plants for various applications such as pH control, the production of potable water in conjugation with chlorine, etc., which also helps to dwell the global ammonia market. However, the market's expansion will probably be hampered by the dangerous effects of concentrated ammonia. Additionally, fluctuation in the price of natural gas from which ammonia is prepared is another key factor that restrains the growth of the global ammonia market.

Key Drivers of Target Market:

Rising usage of ammonia for agricultural purposes   

• In agriculture, ammonia is mostly utilized as a fertilizer. The worldwide agricultural sector has expanded significantly due to the drive to produce crops with greater yield, quality, and quantity. As agriculture expands, there is an increasing need for various agricultural chemicals like fertilizer, which drives up the price of ammonia. Ammonia usage has increased due to the steadily growing need for fertilizer. Over the anticipated period, this would increase the industry's worth.

Rising enthusiasm for ammonia as a sustainable energy source

• Apart from its well-known applications, ammonia can also be used as a zero-carbon fuel and a flexible long-term energy carrier. Given its comparatively high energy density and global transportation and storage infrastructure availability, a new, integrated global system for the storage and distribution of renewable energy might be built around ammonia. Because of these advantages, ammonia is a viable choice for shipping, pipeline, rail, or road transportation of zero-carbon energy.

Restrains:

Harmful effects of concentrated ammonia

• Nonetheless, the market's expansion will probably be hampered by the dangerous consequences of concentrated ammonia. Severe burns or other injuries may result at higher doses. High concentrations of solutions, such as those found in industrial cleaners, can result in blindness or permanent eye damage and severe burns to the skin. Taking in large amounts of solutions can also have negative consequences on an individual’s mouth, throat, stomach, and throat.

Opportunities:

Sustainable ammonia production methods that assist international efforts to reduce carbon emissions present opportunities for market expansion. Green ammonia has significant potential as a feedstock to make fertilizers and other compounds. This could aid in the fight against climate change by drastically lowering greenhouse gas emissions. Green ammonia can be utilized as a fertilizer and zero-carbon fuel for heating, power generation, and transportation applications. Therefore, sustainable products have a market opportunity due to the growing demand for green/sustainable ammonia.

The market is segmented based on product form, application, and region.

Product Form Insights

• Liquid: The chemical's liquid segment largely handles the ammonia market. Over the course of the projection period, this category is anticipated to increase. The ammonia market will grow as a result of the product's increasing demand in its final uses. The majority of ammonia is utilised in liquid form. It is widely utilised in domestic and industrial cleaning products as well as fertilisers.
• Gas: Ammonia gas can be used to produce chemicals such as fertilizers and refrigerants, explosives, colors, polymers, and various medications. It can also be compressed to form a transparent, colorless liquid under pressure.
• Powder: The solid ammonia powder is utilized in certain situations where a solid state has proved more appropriate. It adds flavor to several culinary goods and is used in medications and batteries.

Application Insights

• Fertilizers: This category held the largest revenue share in the market due to its growing use by farmers. Nitrogenous fertilizers have high solubility, enabling plants to absorb them quickly and effectively. Fertilisers using ammonium nitrate require NH3. These fertilizers release nitrogen, which is essential to plant growth.
• Refrigerants: Ammonia's good thermodynamic qualities make it a popular choice for refrigerants. It is also used in the chemical, petroleum, and gas processing sectors, among other large-scale industrial refrigeration applications.
• Pharmaceuticals: Ammonia is utilized in the pharmaceutical industry to make a range of medications and medical supplies, such as laxatives, expectorants, and cough syrups.
• Textile: Ammonia is used in the textile industry to make synthetic fibers like rayon and nylon. Moreover, cotton, wool, and silk are dyed and scourged using it. Certain synthetic resins are produced using ammonia as a catalyst.
• Others: The others category uses ammonia to create ammonium nitrate, a crucial element in some commercial explosives. Ammonia is also used in the production process of some plastic types.

Regional Insights

• The North American market is expected to account for the second-highest share in the target market, as there is an increased demand for sustainable agricultural methods. This is owing to the rise in the demand for organic fertilizers in various countries, such as the U.S. in this region. The growing population and higher crop output are the causes of this growing ammonia demand.
• Asia Pacific: Asia Pacific dominates the global ammonia market in revenue over the other regions. This is due to an increased demand for ammonia-based fertilizers with a high production and consumption rate, especially in China. The existence of agricultural products and their rising demand contribute to the ammonia market's growth in Asia-Pacific.
• The Europe:  Europe market is expanding steadily, and the requirement for green ammonia production—ammonia produced for fertilizer or energy storage using renewable energy sources like solar or wind power—is predicted to increase.
• The Latin America: the market is an emerging region where ammonia-based fertilizers have become more necessary as agricultural output rises and food security becomes a priority.
• The Middle East and Africa:  the market is in its developmental stages, observing infrastructural growth, agricultural innovations, and industrialization initiatives that will influence the need for ammonia in the coming years.

Ammonia Market Report Scope:

Attribute	Details
Market Size 2024	US$ 238 billion
Projected Market Size 2034	US$ 407.5 billion
CAGR Growth Rate	6.1%
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Billion & CAGR from 2024 to 2034
Market Segmentation	By Product Form - Liquid, Gas, Powder By Application - Fertilizers, Refrigerants, Pharmaceuticals, Textile, Others
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the Ammonia Market report based on product form, application, and region:

 

Segmentation:

By Product Form:

• Liquid
• Gas
• Powder

By Application:

• Fertilizers
• Refrigerants
• Pharmaceuticals
• Textile
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Ammonia Market include BASF SE, Agrium, Inc., Koch Nitrogen Company, CF Industries, Inc., Potash Corporation of Saskatchewan, Inc., Rashtriya Chemicals & Fertilisers Ltd., Shandong Lianmeng Chem Group, Koch Industries, Eurochem, and Yara.

• In March 2024, Yara partnered with GHC SAOC, an Acme Cleantech wholly-owned subsidiary. As part of this partnership, YARA will receive ammonia from ACME that emits less CO2. This partnership covers the annual supply of 100,000 tonnes of renewable ammonia.
• In March 2023, The CBH Group announced the inauguration of its new Kwinana Fertiliser Plant, which will provide significant benefits to Western Australian grain growers. With the project, CBH will be able to produce 15,000 more granular fertilizers annually and launch its liquid fertilizer business. The new facility also offers 55,000 tonnes of granular bulk fertilizer and 32,000 tonnes of urea ammonium nitrate (UAN) storage capacity.
• In September 2022, OCI Nitrogen announced the United States Gulf Vf Blue Ammonia Hydrogen project. OCI started building a blue ammonia plant with a 1.1 million tonnes annual production capacity (mtpa), which the infrastructure will double to 2.2 Mtpa.

• BASF SE*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Agrium, Inc.
• Koch Nitrogen Company
• CF Industries, Inc.
• Potash Corporation of Saskatchewan, Inc.
• Rashtriya Chemicals & Fertilisers Ltd.
• Shandong Lianmeng Chem Group
• Koch Industries
• Eurochem
• Yara

“*” marked represents similar segmentation in other categories in the respective section.

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Thickness Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
   • PORTER’s
   • Investment Outlook
3. Market Preview
   • Executive Summary
   • Key Findings—Global Outlook for Ammonia Strategies
     • Key Questions this Study will Answer
       • By Product Form (Liquid, Gas and Powder)
       • By Application (Fertilizers, Refrigerants, Pharmaceuticals, Textile and Others)
       • By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Overview
   • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2024 – 2034
   • Y-o-Y Growth Analysis (%), 2024 – 2034
   • Regional Trends
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
5. Regional Analysis
   • Regional Revenue Analysis
   • Regional By segment Analysis
   • Reasons for regional growth
   • Key Player of particular region
   • Countries Include in the report:
     • North America (U.S., Canada)
     • Europe (UK, France, Germany, Russia, Italy, Rest of Europe)
     • Asia Pacific (India, Japan, South Korea, China, Rest of Asia Pacific)
     • Latin America (Brazil, Mexico, Rest of Latin America)
     • Middle East & Africa (GCC, Israel, South Africa, Rest of Middle East)

Competitive Landscape

• Heat Map Analysis
• Market Presence and Specificity Analysis
• Competitive Overview
• Competitive Benchmarking
• Market Share Analysis
• Key Developments In The Global Ammonia Market
• Key Developments: Mergers & Acquisitions
• Key Developments: Collaboration
• Key Developments: Contracts & Agreements
• Key Developments: Expansion
• Key Developments: Product Developments

Company Profiles

• Company Overview
• Product Portfolio
• Key Highlights
• Financial Performance
• Business Strategies
• SWOT Analysis
  • Bloomberg LP
  • BASF SE
  • Agrium, Inc.
  • Koch Nitrogen Company
  • CF Industries, Inc.
  • Potash Corporation of Saskatchewan, Inc.
  • Rashtriya Chemicals & Fertilisers Ltd.
  • Shandong Lianmeng Chem Group
  • Koch Industries, Inc.
  • EuroChem Group AG

The Last Word

• Future Impact
• About Us
• Contact