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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Ammonia Market size was valued at US$ 78,376.6 million in 2023 and is expected to grow at a 5.0% CAGR from 2024 to 2030. Ammonia is a colorless inorganic compound with a single nitrogen atom bonded to three hydrogen atoms. They are neurotoxins and amidase inhibitors. Ammonia is naturally found in the environment through air, water, animals, and plants. Ammonia is used in the manufacture of many daily-use products. Ammonia is a critical component in the manufacture of fertilizers like urea, and ammonium nitrate which are essential for plant growth in the agriculture sector. The global population is expected to have a surge in demand for the food and agriculture industry which is expected to drive the growth over the forecast years.
In addition, Ammonia is widely popular as a refrigerating gas and broadly used in air conditioning equipment. Furthermore, factors like the advancement of technology in the production of ammonia are increasing efficiency and reducing the cost of the market, growing chemical industries, and increasing investments in the development of ammonia production by the key market players are expected to further boost the growth over the forecast period. However, the increasing environmental concerns regarding the emission of greenhouse gases, acid rain, the consumption of high energy sources in the production of ammonia, and volatile prices are expected to hinder growth. The development of a sustainable method for the production of ammonia and diversified application of ammonia in various end-use sectors is expected to provide an opportunity for the market key players in the forecast years.
Study Period
2024-2030Base Year
2023CAGR
2.3%Largest Market
North AmericaFastest Growing Market
Asia-Pacific
The ammonia market is expected to grow over the forecast period due to the increasing need for fertilizers in the agriculture sector. The increasing demand for food is expected to increase the demand for agriculture. For instance, according to the Directorate of Economics and Statistics (DES) India, the index number of agricultural output for food grains in India was about 141, up from approximately 139.8 in 2020. Furthermore, the increasing adoption of modern technologies in agriculture such as precision farming and the usage of modified crops in agriculture increases the use of fertilizers which eventually increases the demand for ammonia in the forecast years.
The Asia Pacific ammonia market is expected to have the largest CAGR in the forecasted years, it is predicted to increase rapidly due to the increasing demand for fertilizers in countries like India & China owing to the presence of a large agricultural base in this region. In addition. Several market players in fertilizers productions are present in China. Europe region is expected to have the highest CAGR over the forecast years owing to growing investments in the development of technology in the production of ammonia and ongoing projects by key players in this region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 78,376.6 million |
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Market CAGR |
2.3% |
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By Product Form |
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By Application |
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By Region |
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The global ammonia market size was valued at US$ 78,376.6 million in 2023 and is projected to grow at a signifacnt CAGR of 5.0% from 2024-2030.
Increasing demand for fertilizers and refrigerating gasses is expected to drive the growth of ammonia market over the forecast years.
The leading players in the global Ammonia market are Yara International ASA, BASF SE, CF Industries Holdings, Inc., Nutrien Ltd., SABIC, Qatar Petroleum, EuroChem Group, Koch Fertilizer, LLC, Praxair Technology, Inc., China National Petroleum Corporation, Rashtriya Chemicals & Fertilizers Limited.
| 1. Executive Summary |
| 2. Global Ammonia Market Introduction |
| 2.1. Global Ammonia Market - Taxonomy |
| 2.2. Global Ammonia Market - Definitions |
| 2.2.1. Product Form |
| 2.2.2. Application |
| 3. Global Ammonia Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Ammonia Market Dynamic Factors - Impact Analysis |
| 3.6. Global Ammonia Market Competition Landscape |
| 4. Global Ammonia Market Analysis,2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis ,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Ammonia Market, By Product Form, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Liquid |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Gas |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Powder |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Ammonia Market, By Application, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1. Fertilizers |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Refrigerants |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Pharmaceuticals |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Textile |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7. Global Ammonia Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Ammonia Market - Opportunity Analysis Index, By Product Form, Application and Region, 2024 - 2030 |
| 8. North America Ammonia MarketAnalysis,2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. By Product Form Analysis 2019 - 2023 and Forecast 2024 - 2030by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Liquid |
| 8.1.2. Gas |
| 8.1.3. Powder |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Fertilizers |
| 8.2.2. Refrigerants |
| 8.2.3. Pharmaceuticals |
| 8.2.4. Textile |
| 8.2.5. Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Ammonia Market - Opportunity Analysis Index, By Product Form, Application, and Country, 2024 - 2030 |
| 8.5. North America Ammonia Market Dynamics Trends |
| 9. Europe Ammonia Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. By Product Form Analysis 2019 - 2023 and Forecast 2024 - 2030by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Liquid |
| 9.1.2. Gas |
| 9.1.3. Powder |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Fertilizers |
| 9.2.2. Refrigerants |
| 9.2.3. Pharmaceuticals |
| 9.2.4. Textile |
| 9.2.5. Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Poland |
| 9.3.8. Rest of Europe |
| 9.4. Europe Ammonia Market - Opportunity Analysis Index, By Product Form, Application, and Country, 2024 - 2030 |
| 9.5. Europe Ammonia Market Dynamics Trends |
| 10. Asia-Pacific Ammonia Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. By Product Form Analysis 2019 - 2023 and Forecast 2024 - 2030by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Liquid |
| 10.1.2. Gas |
| 10.1.3. Powder |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Fertilizers |
| 10.2.2. Refrigerants |
| 10.2.3. Pharmaceuticals |
| 10.2.4. Textile |
| 10.2.5. Others |
| 10.3. Country Analysis2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Japan |
| 10.3.2. China |
| 10.3.3. India |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Ammonia Market - Opportunity Analysis Index, By Product Form, Application, and Country, 2024 - 2030 |
| 10.5. Asia-Pacific Ammonia Market Dynamics Trends |
| 11. Latin America Ammonia Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. By Product Form Analysis 2019 - 2023 and Forecast 2024 - 2030by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Liquid |
| 11.1.2. Gas |
| 11.1.3. Powder |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Fertilizers |
| 11.2.2. Refrigerants |
| 11.2.3. Pharmaceuticals |
| 11.2.4. Textile |
| 11.2.5. Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Ammonia Market - Opportunity Analysis Index, By Product Form, Application, and Country, 2024 - 2030 |
| 11.5. Latin America Ammonia Market Dynamics Trends |
| 12. Middle East and Africa Ammonia Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. By Product Form Analysis 2019 - 2023 and Forecast 2024 - 2030by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Liquid |
| 12.1.2. Gas |
| 12.1.3. Powder |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Fertilizers |
| 12.2.2. Refrigerants |
| 12.2.3. Pharmaceuticals |
| 12.2.4. Textile |
| 12.2.5. Others |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Ammonia Market - Opportunity Analysis Index, By Product Form, Application, and Country, 2024 - 2030 |
| 12.5. MEA Ammonia Market Dynamics Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Technology & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Achema |
| 13.2.2. Acron |
| 13.2.3. CF Industries Holdings Inc. |
| 13.2.4. DCM Shriram |
| 13.2.5. EuroChem Group AG |
| 13.2.6. Group DF |
| 13.2.7. Indian Farmers Fertiliser Cooperative Limited |
| 13.2.8. Koch Fertilizer LLC . |
| 13.2.9. Nutrien Ltd. |
| 13.2.10. OCI NV |
| 13.2.11. Orica Limited |
| 13.2.12. Qatar Fertiliser Company |
| 13.2.13. SABIC |
| 13.2.14. Togliattiazot |
| 13.2.15. Uralchem JSC |
| 13.2.16. Yara International |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.