What Are the Projections for the Ammonia Market Considering Its Recent Growth Factors?
The ammonia market has experienced substantial growth in the recent past. The market size has risen from $79.13 billion in 2024 to $85.57 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.1%. Such strong growth in the historic period can be attributed to agricultural demand, expanding population, and the need for energy and power generation along with chemical manufacturing.
Furthermore, the ammonia market is expected to continue its robust growth into the foreseeable future, reaching an estimated market size of $124.86 billion in 2029 with a CAGR of 9.9%. The forecast period’s growth can be primarily linked to the development of the hydrogen economy, renewable energy, carbon capture and storage, and the clean energy transition. Green ammonia production, ammonia as a hydrogen carrier, ammonia for energy storage, hydrogen fuel cell vehicles, sustainable fertilizer production, green shipping, ammonia for carbon capture, ammonia in pharmaceuticals, and ammonia sensors and monitoring signify major trends for the forecast period’s anticipated growth.
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What Factors Have Been Driving the Growth of the Ammonia Market?
One of the crucial growth drivers for the ammonia market has been the expansion of the fertilizer industry. Ammonia is employed in the manufacturing of ammonium nitrate fertilizer, which releases nitrogen — a vital nutrient for the growth of plants, including farm crops and lawns. The rapidly expanding fertilizer industry is expected to further boost the utilization of ammonia. For instance, in September 2024, The Agricultural Industries Confederation reported an increase in nitrogen use in England and Wales, from 692 thousand tonnes in 2023 to 687 thousand tonnes in 2022. Hence, the rapid growth of the fertilizer industry is driving the growth of the ammonia market.
What Are the Different Segments of the Ammonia Market?
The ammonia market report covers several segments:
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
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Which Companies Hold the Major Market Share in the Ammonia Industry?
Prominent 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 Emerging Trends Are Witnessed in the Ammonia Industry?
Ammonia industry’s major players are focusing on developing advanced biomass-balanced products to cater to the increasing demand for environmentally friendly agricultural solutions. These biomass-balanced products serve as fertilizers and chemicals, offering more sustainable options than traditional methods. They often carry certifications that highlight their eco-friendly attributes, assisting consumers and businesses in making informed, sustainability-focused decisions.
What Are the Largest and Fastest Growing Regions in the Ammonia Market?
In 2024, Asia-Pacific emerged as the largest region in the ammonia market and is also projected 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.
What Does The Ammonia Market Report 2025 Offer?
Ammonia is a colorless gas composed of hydrogen and nitrogen. It is used in various commercially relevant compounds production, as a refrigerant gas, for water supplies purification, and in the manufacturing of plastics, explosives, textiles, pesticides, dyes, and other chemicals. Moreover, Ammonia is heavily utilized as a fertilizer in the agricultural industry. The Ammonia Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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