The Ammonia Market size was USD 214.26 billion in 2023 and is expected to Reach USD 331.20 billion by 2031 and grow at a CAGR of 5.6% over the forecast period of 2024-2031.
Ammonia is an inorganic compound. It contains hydrogen and nitrogen with the chemical formula NH3. Ammonia is a colourless gas with a pungent odor, a stable binary hydride, and the simplest pnictogen hydride. The majority of the world's ammonia production is based on the Haber-Bosch process, which involves synthesizing ammonia from nitrogen and hydrogen gases, primarily sourced from natural gas.
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Ammonia (NH3) is an alkaline gas that is extremely reactive and soluble. Ammonia is a component in a nitrogen cycle produced in soil by bacterial activities. Ammonia is also naturally formed through the decomposition of organic matter, including animals, plants, and faeces. Ammonia is produced via the breakdown and volatilisation of urea.
Ammonia (NH3) is one of the most widely produced and distributed compounds in the world, and it is best known for its usage as a fertilizer in agriculture. It has recently attracted attention to its potential use as a high-quality energy carrier and carbon-free fuel in internal combustion engines (ICEs).
Ammonia is used to make fertilisers, polymers, and explosives. Pharmaceuticals, water treatment, chemical processing, leather, paper, and refrigeration are some of the other applications.
KEY DRIVERS
Rising consumption of ammonia in refrigerants boosts market growth
Agriculture
Ammonia is mostly utilized as a nitrogen-based fertilizer. The production of crops and agricultural activities have a significant impact on the need for ammonia. The need for food is rising along with the world population, which raises the need for fertilizers like ammonia.
The push towards reducing green house gas emissions and addressing climate change
RESTRAIN
Exposure to a concentrated amount of NH3 impacts human and hinder market growth
Environmental Issues
The manufacture of ammonia requires a lot of energy and largely uses fossil fuels, including natural gas, which increases greenhouse gas emissions. Producers encountered difficulties in lowering their carbon footprint and implementing more sustainable production practices as environmental restrictions grew increasingly stringent
OPPORTUNITY
Population rise, increasing need for food, and shrinking arable land are drivers of the demand for NH3
Ammonia demand in the agriculture industry has increased as a result of the growing need for food security and the expanding world population. The requirement for effective fertilizers is further increased by the shrinking amount of arable land, making ammonia-based products crucial for increasing agricultural yields. Ammonia also has uses in a number of industrial processes and has the potential to be a carbon-free fuel, opening up markets outside of agriculture. However, in order to maintain responsible growth in the ammonia industry, it is crucial to take sustainability and environmental effects into account.
Rising fertilizer use and increased agricultural output drive market expansion
Growing demand for biofuels
CHALLENGES
The high cost and restricted availability of low-carbon ammonia are the two key hurdles to the usage of ammonia fuel
Ammonia as a low-carbon fuel confronts two significant market challenges: high production costs and restricted supply. Current low-carbon ammonia manufacturing methods are more expensive than previous methods, owing to the utilization of renewable energy sources. Furthermore, low-carbon ammonia infrastructure and supply chains are not as developed as conventional ammonia infrastructure and supply chains. To overcome these barriers, technological breakthroughs and supportive regulations must be implemented in order for ammonia to be widely adopted as a greener fuel option.
The growing demand for green ammonia is a significant constraint for conventional NH3
Creating safer, higher-quality ammonia for usage around both people and animals
Russia has significant phosphate and potash reserves, as well as one of the world's largest natural gas reserves, giving the country a large P, N, and K production base. While Russian supply is critical to the global fertiliser industry. The possible impact of the military conflict between Russia and Ukraine on each of the eight major fertilisers we track, using six methods to evaluate each commodity's sensitivity to sanctions. The first five indicators are intended to assess each industry's immediate exposure to Russian fertilizer sanctions. According to reports, Russia has accused Ukraine for a burst on a critical ammonia pipeline, saying it will have a "negative" influence on negotiations to renew a major grain export agreement in 2023. A pipeline carrying ammonia fertilizer from Russia to Ukraine, which could be critical to the survival of the Black Sea grain deal, has been damaged. A blast caused surplus ammonia availability in the market, combined with decreased demand, paving the way for a narrowing demand-supply gap and, as a result, price declines. In Russia, prices fell by 23.6% in the second quarter of June 2023.
In manufacturing, ammonia natural gas is the most common feedstock. The increase in natural gas prices in the middle of 2021, particularly in Europe, reduced the manufacture of ammonia, a vital component in nitrogen fertilizer production. Coal price hikes in China also resulted in electrical restrictions, prompting several fertilizer production factories to reduce output. As a result, China imposed a ban on fertiliser exports, notably phosphates, until June 2022, citing the need to assure domestic availability and food security as justification. The restriction of Chinese fertilizer exports considerably reduced world supply. Ammonia prices in every region increased throughout Q1 2022 due to high natural gas costs, skyrocketing inflation, and significant production cuts. Rising shipping container costs are likely to contribute to fertilizer shortages and price rises. This has mostly affected major application sectors such as agriculture and Refrigerants.
By Product Form
Aqueous
Anhydrous
By Application
Refrigerants
Fertilizers
Textile
Pharmaceuticals
Household and industrial cleaning
Mining
Others
The Asia Pacific region dominated the product market in terms of revenue. This is ascribed to a significant number of agrarian countries in the APAC region, including India, Thailand, Indonesia, Japan, and the Philippines. The region accounts for over 60% of global nitrogenous fertilizer usage.
Rapid urbanization and growing populations have added to the demand for food, further accelerating fertilizer demand to increase crop yield. China is the world's largest producer of ammonia, accounting for over 30% of global output, and also the world's greatest consumer of nitrogenous fertilizers, accounting for one-third of total global usage. India is a major ammonia producer, accounting for around 8% of global output. The majority of the country's product is directly turned into urea, which is then utilized as a fertiliser.
The European market accounts for a major portion of these markets. The Food and Agriculture Organisation says. Imports meet the majority of Europe's mineral fertiliser needs. Nitrogen-based fertilisers have long been Europe's largest traded commodity with the rest of the globe. Nitrate-based fertilisers are mostly imported into the region from Russia, Egypt, and Algeria. The majority of NPK chemicals are imported through Russia and Norway.
Due to agricultural growth, the United States held the largest part of the North American market. The increase in government initiatives for the use of modern agricultural technologies and infrastructure has contributed to this region's highest revenue.
In Latin America, the increasing awareness of the benefits of ammonia as a fertilizer and for household hygiene may increase demand for household cleaning products. A plentiful supply of natural gas, infrastructure upgrades, and increased demand for fertilizers have piqued the interest of numerous fertilizer investors.
The Middle East is one of the world's greatest manufacturers of nitrogen fertilizer. Qatar, Saudi Arabia, and Iran are the world's largest NH3 and urea manufacturers. Furthermore, the suppliers ship about 3 million tonnes of NH3 each year to South Korea, India, China, and Taiwan.
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North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Koch Fertilizer LLC, Qatar Fertiliser Company, Togliattiazot, SABIC, Acron, CF Industries Holdings Inc., Nutrien Ltd, Sumitomo Chemical Co Ltd, Yara, BASF SE (U.S.), and other key players are mentioned in the final report.
CF Industries Holdings Inc- In 2023 CF Industries has agreed to acquire Incitec Pivot Ltd Waggaman ammonia manufacturing plant from them. they mentioned it has signed a formal acquisition agreement for IPL's ammonia manufacturing complex in Waggaman, Louisiana with Incitec Pivot Ltd. The facility has a nameplate capacity of 880,000 tons of ammonia annually.
CF Industries Holdings Inc- In 2023 CF Industries and LOTTE CHEMICAL Corporation to Explore Joint U.S.-Based Clean Ammonia Project and Long-Term Clean Ammonia Offtake Agreement in South Korea
Nutrien- In 2022 Nutrien revealed that its Nitrogen factory in Geismar, Louisiana, is being considered as the location for the world's largest clean ammonia facility. We are pleased to announce that ThyssenKrupp Uhde has been chosen as a technology provider and partner for the upcoming new clean ammonia factory.
| Report Attributes | Details |
| Market Size in 2023 | US$ 214.26 Bn |
| Market Size by 2031 | US$ 331.20 Bn |
| CAGR | CAGR of 5.6% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product Form (Aqueous, Anhydrous) • By Application (Refrigerants, Fertilizers, Textile, Pharmaceuticals, Household and industrial cleaning, Mining, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Koch Fertilizer LLC, Qatar Fertiliser Company, Togliattiazot, SABIC, Acron, CF Industries Holdings Inc., Nutrien Ltd, Sumitomo Chemical Co Ltd, Yara, BASF SE (U.S.) |
| Key Drivers | • rising consumption of ammonia in refrigerants boosts market growth. |
| Market Restraints | • Exposure to a concentrated amount of NH3 impacts human and hinder market growth. |
Ans. USD 331.20 Billion is the projected Ammonia Market size of the market by 2031.
Ans. The CAGR Growth rate of the Ammonia Market over the forecast period is 5.6%.
Ans. Asia Pacific is the fastest-growing region of the Ammonia Market.
Ans. Opportunities are
Ans. USD 214.26 billion is the market size in 2023 for Ammonia Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.3. Introduction
4.3.1 Impact on major economies
4.3.1.1 US
4.3.1.2 Canada
4.3.1.3 Germany
4.3.1.4 France
4.3.1.5 United Kingdom
4.3.1.6 China
4.3.1.7 Japan
4.3.1.8 South Korea
4.3.1.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Ammonia Market Segmentation, By Product Form
8.1 Aqueous
8.2 Anhydrous
9. Ammonia Market Segmentation, By Application
9.1 Refrigerants
9.2 Fertilizers
9.3 Textile
9.4 Pharmaceuticals
9.5 Household and industrial cleaning
9.6 Mining
9.7 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Ammonia Market by Country
10.2.2North America Ammonia Market by Product Form
10.2.3 North America Ammonia Market by Application
10.2.4 USA
10.2.4.1 USA Ammonia Market by Product Form
10.2.4.2 USA Ammonia Market by Application
10.2.5 Canada
10.2.5.1 Canada Ammonia Market by Product Form
10.2.5.2 Canada Ammonia Market by Application
10.2.6 Mexico
10.2.6.1 Mexico Ammonia Market by Product Form
10.2.6.2 Mexico Ammonia Market by Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Ammonia Market by Country
10.3.1.2 Eastern Europe Ammonia Market by Product Form
10.3.1.3 Eastern Europe Ammonia Market by Application
10.3.1.4 Poland
10.3.1.4.1 Poland Ammonia Market by Product Form
10.3.1.4.2 Poland Ammonia Market by Application
10.3.1.5 Romania
10.3.1.5.1 Romania Ammonia Market by Product Form
10.3.1.5.2 Romania Ammonia Market by Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Ammonia Market by Product Form
10.3.1.6.2 Hungary Ammonia Market by Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Ammonia Market by Product Form
10.3.1.7.2 Turkey Ammonia Market by Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Ammonia Market by Product Form
10.3.1.8.2 Rest of Eastern Europe Ammonia Market by Application
10.3.2 Western Europe
10.3.2.1 Western Europe Ammonia Market by Country
10.3.2.2 Western Europe Ammonia Market by Product Form
10.3.2.3 Western Europe Ammonia Market by Application
10.3.2.4 Germany
10.3.2.4.1 Germany Ammonia Market by Product Form
10.3.2.4.2 Germany Ammonia Market by Application
10.3.2.5 France
10.3.2.5.1 France Ammonia Market by Product Form
10.3.2.5.2 France Ammonia Market by Application
10.3.2.6 UK
10.3.2.6.1 UK Ammonia Market by Product Form
10.3.2.6.2 UK Ammonia Market by Application
10.3.2.7 Italy
10.3.2.7.1 Italy Ammonia Market by Product Form
10.3.2.7.2 Italy Ammonia Market by Application
10.3.2.8 Spain
10.3.2.8.1 Spain Ammonia Market by Product Form
10.3.2.8.2 Spain Ammonia Market by Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Ammonia Market by Product Form
10.3.2.9.2 Netherlands Ammonia Market by Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Ammonia Market by Product Form
10.3.2.10.2 Switzerland Ammonia Market by Application
10.3.2.11 Austria
10.3.2.11.1 Austria Ammonia Market by Product Form
10.3.2.11.2 Austria Ammonia Market by Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Ammonia Market by Product Form
10.3.2.12.2 Rest of Western Europe Ammonia Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Ammonia Market by Country
10.4.2 Asia Pacific Ammonia Market by Product Form
10.4.3 Asia Pacific Ammonia Market by Application
10.4.4 China
10.4.4.1 China Ammonia Market by Product Form
10.4.4.2 China Ammonia Market by Application
10.4.5 India
10.4.5.1 India Ammonia Market by Product Form
10.4.5.2 India Ammonia Market by Application
10.4.6 Japan
10.4.6.1 Japan Ammonia Market by Product Form
10.4.6.2 Japan Ammonia Market by Application
10.4.7 South Korea
10.4.7.1 South Korea Ammonia Market by Product Form
10.4.7.2 South Korea Ammonia Market by Application
10.4.8 Vietnam
10.4.8.1 Vietnam Ammonia Market by Product Form
10.4.8.2 Vietnam Ammonia Market by Application
10.4.9 Singapore
10.4.9.1 Singapore Ammonia Market by Product Form
10.4.9.2 Singapore Ammonia Market by Application
10.4.10 Australia
10.4.10.1 Australia Ammonia Market by Product Form
10.4.10.2 Australia Ammonia Market by Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Ammonia Market by Product Form
10.4.11.2 Rest of Asia-Pacific APAC Ammonia Market by Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Ammonia Market by Country
10.5.1.2 Middle East Ammonia Market by Product Form
10.5.1.3 Middle East Ammonia Market by Application
10.5.1.4 UAE
10.5.1.4.1 UAE Ammonia Market by Product Form
10.5.1.4.2 UAE Ammonia Market by Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Ammonia Market by Product Form
10.5.1.5.2 Egypt Ammonia Market by Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Ammonia Market by Product Form
10.5.1.6.2 Saudi Arabia Ammonia Market by Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Ammonia Market by Product Form
10.5.1.7.2 Qatar Ammonia Market by Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Ammonia Market by Product Form
10.5.1.8.2 Rest of Middle East Ammonia Market by Application
10.5.2 Africa
10.5.2.1 Africa Ammonia Market by Country
10.5.2.2 Africa Ammonia Market by Product Form
10.5.2.3 Africa Ammonia Market by Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Ammonia Market by Product Form
10.5.2.4.2 Nigeria Ammonia Market by Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Ammonia Market by Product Form
10.5.2.5.2 South Africa Ammonia Market by Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Ammonia Market by Product Form
10.5.2.6.2 Rest of Africa Ammonia Market by Application
10.6 Latin America
10.6.1 Latin America Ammonia Market by Country
10.6.2 Latin America Ammonia Market by Product Form
10.6.3 Latin America Ammonia Market by Application
10.6.4 Brazil
10.6.4.1 Brazil Ammonia Market by Product Form
10.6.4.2 Brazil Africa Ammonia Market by Application
10.6.5 Argentina
10.6.5.1 Argentina Ammonia Market by Product Form
10.6.5.2 Argentina Ammonia Market by Application
10.6.6 Colombia
10.6.6.1 Colombia Ammonia Market by Product Form
10.6.6.2 Colombia Ammonia Market by Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Ammonia Market by Product Form
10.6.7.2 Rest of Latin America Ammonia Market by Application
11 Company Profile
11.1 Koch Fertilizer
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Qatar Fertiliser Company
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 BASF SE (U.S.)
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 CF Industries Holdings Inc
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Nutrien Ltd.
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Togliattiazot
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 SABIC
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Acron
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Sumitomo Chemical Co. Ltd
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Yara
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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