The Business Research Company’s report on the Ammonia Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the ammonia market?
The growth of the fertilizer industry is contributing to the growth of the ammonia market. Ammonia is used as ammonium nitrate fertilizer, which releases nitrogen, an essential nutrient for growing plants, including farm crops and lawns. The rapid growth in fertilizer industry is expected to boost utilization of ammonia as it is widely used in manufacturing of fertilizers. For instance, in September 2024, according to The Agricultural Industries Confederation, a UK-based trade association representing the agri-supply industry, in England & Wales, 687 thousand tonnes of nitrogen were used in 2022. up from 692 thousand tonnes of nitrogen in 2023. Therefore, the growth of the fertilizer industry is driving the growth of the ammonia market.
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How has the ammonia market size evolved, and what are the latest forecasts for its expansion?
The ammonia market size has grown strongly in recent years. It will grow from $79.13 billion in 2024 to $85.57 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to agricultural demand, expanding population, energy and power generation, chemical manufacturing:.
The ammonia market size is expected to see strong growth in the next few years. It will grow to $124.86 billion in 2029 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to hydrogen economy development, renewable energy, carbon capture and storage (ccs), clean energy transition. Major trends in the forecast period include green ammonia production, ammonia as hydrogen carrier, ammonia for energy storage, hydrogen fuel cell vehicles, sustainable fertilizer production, green shipping, ammonia for carbon capture, ammonia in pharmaceuticals, ammonia sensors and monitoring.
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Which major companies dominate the ammonia market?
Major companies operating in the ammonia market include Yara International ASA, BASF SE, CF Industries Holdings Inc., Nutrien Ltd., OCI Nitrogen, Eurochem Group, Koch Fertilizer LLC, China National Petroleum Corporation, Rashtriya Chemicals and Fertilizers Ltd., Qatar Fertiliser Company, Mitsubishi Gas Chemical Co Inc., Uralchem JSC, Evonik Industries AG, Acron Group, Orica Limited, Gujarat Narmada Valley Fertilizers & Chemicals Ltd., Agrium Europe S.A., Fauji Fertilizer Company Limited, China National Offshore Oil Corporation, National Fertilizers Limited, Trammo Inc., Pupuk Kaltim, Sinochem Group, KBR Inc., Dyno Nobel
What trends will shape the future of the amla extract market?
Major companies operating in the ammonia market are focused on developing advanced biomass-balanced products to meet the growing demand for environmentally friendly agricultural solutions. Biomass-balanced products serve as fertilizers and chemicals, offering a more sustainable option compared to traditional methods. They frequently carry certifications that highlight their eco-friendly attributes, assisting consumers and businesses in making informed decisions that promote a circular economy. For instance, in May 2024, BASF SE, a Germany-based chemical company, launched ammonia anhydrous BMBcert, ammonia solution 24.5% BMBcert, urea powder BMBcert, urea solution 40% BMBcert, and urea solution 45% BMBcert. BASF’s Ammonia Anhydrous BMBcert is an ISCC PLUS-certified biomass-balanced product that significantly reduces emissions and supports sustainability efforts. The ammonia solution 24.5% BMBcert offers a lower carbon footprint with its biomass-balanced formulation. Urea Prills BMBcert helps customers minimize scope 3 emissions, while Urea Solutions (40% and 45%) provide effective biomass-balanced options to aid in achieving sustainability goals and reducing overall carbon impact.
Which region dominates the ammonia market, and what factors contribute to its leadership?
Asia-pacific was the largest region in the ammonia market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the ammonia market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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How is the ammonia market segmented, and which segment holds the largest share?
The ammonia market covered in this report is segmented –
1) By Product Type: Anhydrous Ammonia, Aqueous Ammonia
2) By Form Type: Liquid, Powder
3) By Application Type: Fertilizers, Chemicals, Refrigeration, Pharmaceutical, Fibers and Plastics, Pulp and Papers, Other Application Types
Subsegments:
1) By Anhydrous Ammonia: Industrial Grade Anhydrous Ammonia, Agricultural Grade Anhydrous Ammonia
2) By Aqueous Ammonia: Low-Concentration Aqueous Ammonia, High-Concentration Aqueous Ammonia
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How is the ammonia market defined, and what are its core characteristics?
Ammonia refers to a colorless gas composed of hydrogen and nitrogen. It is the simplest stable compound and is used to make a variety of commercially relevant compounds. It is also used as a refrigerant gas, for the purification of water supplies, and in the manufacture of plastics, explosives, textiles, pesticides, dyes, and other chemicals. Ammonia is used as fertilizer in the agricultural industry.
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