Ammonia Market Size, Trends, Growth Drivers, CAGR Status, Demand and Future Outlook

Ammonia Market Growth, Size, Trends Analysis - By Product, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034

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Published: Feb-2025	Report ID: CHEM2505	Pages: 1 - 229	Formats^*:
Category : Chemical & Materials

Ammonia Market Introduction and Overview

According to SPER Market Research, the Global Ammonia Market is estimated to reach USD 407.43 billion by 2034 with a CAGR of 6.16%.

The report includes an in-depth analysis of the Global Ammonia Market, including market size and trends, product mix, Applications, and supplier analysis. The global market for ammonia is expanding rapidly. The increased demand for ammonia, particularly in fertilizers and refrigerants, can be ascribed to a combination of factors. One of the most significant of these is the rise in world population, which has resulted in increased food demand. This, combined with a loss in available arable land, greatly increases the demand for NH3 fertilizers. As a result, the market is seeing significant expansion. However, environmental regulations, high energy costs, raw material dependency, safety issues, and limited acceptance of green technologies all impede the sector's growth.

By Product Insights: The market for Ammonia is segmented based on product, including Aqueous and Anhydrous. The anhydrous segment had the highest revenue market share in 2024 and is predicted to continue to dominate the industry during the forecast period. NH3-based nitrogenous fertilizers improve yield, crop protection, and production cycles. This fertilizer's anhydrous version is commonly utilized in agriculture due to its high nitrogen concentration.

By Application Insights: The market for Ammonia is segmented based on applications, including Fertilizers, Refrigerants, Pharmaceuticals and Textile. During the projection period, the fertilizers category led the market in 2024. This increase is attributed to farmers' increased usage of nitrogenous fertilizers. These fertilizers are extremely soluble, which allows plants to take them fast and efficiently. Ammonia (NH3) is a popular refrigerant due to its excellent thermodynamic properties.

By Regional Insights: The ammonia market is dominated by the Asia-Pacific region due to its large agricultural sector, driving demand for fertilizers. Countries like China and India are major consumers of ammonia for fertilizer production, while the region's growing industrial base further boosts ammonia demand for chemicals and energy production.

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Market Competitive Landscape:

The global ammonia market is led by major players like Acron, Yara International, BASF SE, and CF Industries Holdings, Inc. These companies are focusing on sustainable production methods and investing in low-carbon and green ammonia. There is a trend towards forming partnerships in clean energy projects to build strong clean ammonia supply chains. Companies are also expanding by acquiring others and forming joint ventures in regions with good access to raw materials. The industry is modernizing with advanced technologies to improve efficiency and reduce environmental impact, while also exploring new uses for ammonia in areas like maritime fuel and renewable energy storage.

Recent Developments:

In April 2024, JERA and CF Industries will consider forming a joint venture to build a low-carbon ammonia factory with a capacity of 1.4 million metric tons. JERA is exploring purchasing 48% ownership of the project and intends to acquire approximately 500,000 metric tons of low-carbon ammonia per year to meet Japan's demand for low-carbon fuel.

In March 2024, Yara formed a partnership with GHC SAOC, an Acme Cleantech subsidiary. Acme will supply Yara with ammonia produced with lower CO2 emissions as part of this partnership. The arrangement includes the delivery of 100,000 tons of renewable ammonia per year.

Scope of the Report:

Report Metric	Details
Market size available for years	2021-2034
Base year considered	2024
Forecast period	2025-2034
Segments covered	By Product, By Application.
Regions covere	North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa.
Companies Covered	Acron, Yara International, BASF SE, CF Industries Holdings, Inc, Koch Fertilizers, LLC, Mitsui Chemicals, Inc, Nutrien Ltd, Qatar Fertiliser Company, SABIC, Sumitomo Chemical Co, Ltd.

Key Topics Covered in the Report:

Global Ammonia Market Size (FYâ€™2021-FYâ€™2034)
Overview of Global Ammonia Market
Segmentation of Global Ammonia Market By Product (Aqueous, Anhydrous)
Segmentation of Global Ammonia Market By Application (Fertilizers, Refrigerants, Pharmaceuticals, Textile)
Statistical Snap of Global Ammonia Market
Expansion Analysis of Global Ammonia Market
Problems and Obstacles in Global Ammonia Market
Competitive Landscape in the Global Ammonia Market
Details on Current Investment in Global Ammonia Market
Competitive Analysis of Global Ammonia Market
Prominent Players in the Global Ammonia Market
SWOT Analysis of Global Ammonia Market
Global Ammonia Market Future Outlook and Projections (FYâ€™2025-FYâ€™2034)
Recommendations from Analyst

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source

2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs

2.2. Market size estimation

2.2.1. Top-down and Bottom-up approach

2.3. Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis

4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges

5. Market variable and outlook

5.1. SWOT Analysis

5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats

5.2. PESTEL Analysis

5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape

5.3. PORTERs Five Forces

5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry

5.4. Heat Map Analysis

6. Competitive Landscape

6.1. Global Ammonia Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Ammonia Market

7. Global Ammonia Market, By Product (USD Million) 2021-2034

7.1. Aqueous
7.2. Anhydrous

8. Global Ammonia Market, By Application (USD Million) 2021-2034

8.1. Fertilizers
8.2. Refrigerants
8.3. Pharmaceuticals
8.4. Textile

9. Global Ammonia Market, (USD Million) 2021-2034

9.1. Global Ammonia Market Size and Market Share

10. Global Ammonia Market, By Region, (USD Million) 2021-2034

10.1. Asia-Pacific

10.1.1. Australia
10.1.2. China
10.1.3. India
10.1.4. Japan
10.1.5. South Korea
10.1.6. Rest of Asia-Pacific

10.2. Europe

10.2.1. France
10.2.2. Germany
10.2.3. Italy
10.2.4. Spain
10.2.5. United Kingdom
10.2.6. Rest of Europe

10.3. Middle East and Africa

10.3.1. Kingdom of Saudi Arabia
10.3.2. United Arab Emirates
10.3.3. Qatar
10.3.4. South Africa
10.3.5. Egypt
10.3.6. Morocco
10.3.7. Nigeria
10.3.8. Rest of Middle-East and Africa

10.4. North America

10.4.1. Canada
10.4.2. Mexico
10.4.3. United States

10.5. Latin America

10.5.1. Argentina
10.5.2. Brazil
10.5.3. Rest of Latin America

11. Company Profile

11.1. Acron

11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments

11.2. Yara International

11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments

11.3. BASF SE

11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments

11.4. CF Industries Holdings, Inc

11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments

11.5. Koch Fertilizers, LLC

11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments

11.6. Mitsui Chemicals, Inc

11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments

11.7. Nutrien Ltd

11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments

11.8. Qatar Fertiliser Company

11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments

11.9. SABIC

11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments

11.10. Sumitomo Chemical Co., Ltd

11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments

11.11. Others

12. Conclusion

13. List of Abbreviations

14. Reference Links

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

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Frequently Asked Questions About This Report

Which segment is expected to Ammonia Market?

Ammonia Market is covered By Product, By Application.

How big is the Ammonia Market?

Ammonia Market is projected to reach USD 407.43 billion by 2034, growing at a CAGR of 6.16% during the forecast period.

What is the growth rate of the Ammonia Market?

Ammonia Market grew in Market size from 2025. The Market is expected to reach USD 407.43 billion by 2034, at a CAGR of 6.16% during the forecast period.

What is the anticipated CAGR of the Ammonia Market?

Ammonia Market CAGR of 6.16% during the forecast period.

How can I get a sample report on the Ammonia Market?

You can get the sample pages by clicking the link - Click Here

What is the Market size of the Ammonia Market?

Ammonia Market size is USD 407.43 billion from 2025 to 2034.

Which region is expected to have the highest Market share in the Ammonia Market?

The North America is anticipated to have the highest Market share in the Ammonia Market.

Who are the key players in Ammonia Market?

The key players in the Market include Companies Covered Acron, Yara International, BASF SE, CF Industries Holdings, Inc, Koch Fertilizers, LLC, Mitsui Chemicals, Inc, Nutrien Ltd, Qatar Fertiliser Company, SABIC, Sumitomo Chemical Co, Ltd. and others.

What is the conclusion of the Ammonia Market?

One of the most significant of these is the rise in world population, which has resulted in increased food demand. This, combined with a loss in available arable land, greatly increases the demand for NH3 fertilizers.