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.
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 (FY’2021-FY’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 (FY’2025-FY’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.
