Ammonia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Ammonia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global ammonia market size reached US$ 75.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 103.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Ammonia (NH3) refers to a clear, colorless gas with a strong, pungent odor. It is an inorganic compound industrially manufactured using the Haber-Bosch process that involves reacting nitrogen and hydrogen in the presence of a catalyst. It is widely used in the production of nitrogen-based fertilizers, such as urea, ammonium nitrates, ammonium phosphates and ammonium sulfate, to promote proper growth in plants and crops by discharging nitrogen into the soil. Ammonia also finds extensive applications across numerous industries, including agriculture, textile, food and beverage (F&B), pharmaceuticals, water and wastewater treatment, rubber, paper, and chemicals.

Ammonia Market Trends:
The rising need for agricultural chemicals like fertilizers to improve farm yield and meet the escalating demand for food represents the primary factor driving the growth of the market. Moreover, ammonia can quickly absorb heat from the surroundings, filter impurities, and purify liquid mediums without causing any negative environmental impacts. As a result, ammonia is rapidly gaining traction as a purifying agent in water treatment plants and refrigerant in heating, ventilation and air conditioning (HVAC) systems. Besides this, the growing usage of ammonia to manufacture commercial explosives, such as trinitrotoluene [TNT], nitroglycerin, and nitrocellulose, is augmenting the product demand. Additionally, ammonia is employed as a catalyst to fabricate synthetic resins and for dyeing and scouring silk, cotton and wool. This, in confluence with the rising product utilization in the production of plastics and synthetic fibers, such as nylon and rayon, is catalyzing the market growth. Furthermore, the increasing applications of ammonia in household cleaning agents and various metallurgical processes like the nitriding of alloy sheets to harden their surfaces are accelerating product adoption rates. Other factors, including the expanding agriculture industry, shifting focus toward energy consumption systems, emerging industrial applications, growing population and rapid urbanization, are also creating a positive market outlook.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global ammonia market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on physical form, application and end use industry.

Breakup by Physical Form:

Liquid
Powder
Gas

Breakup by Application:

MAP and DAP
Urea
Nitric Acid
Ammonium Sulfate
Ammonium Nitrate
Others

Breakup by End Use Industry:

Agrochemical
Industrial Chemical
Mining
Pharmaceutical
Textiles
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Achema AB, BASF SE, CF Industries Holdings Inc., Koch Industries Inc., Linde plc, Nutrien Ltd, OCI N.V., Orica Limited, PJSC Togliattiazot, Saudi Basic Industries Corporation and Yara International ASA.

Key Questions Answered in This Report

1. What was the size of the global ammonia market in 2022?
2. What is the expected growth rate of the global ammonia market during 2023-2028?
3. What has been the impact of COVID-19 on the global ammonia market?
4. What are the key factors driving the global ammonia market?
5. What is the breakup of the global ammonia market based on the physical form?
6. What is the breakup of the global ammonia market based on the end use industry?
7. What are the key regions in the global ammonia market?
8. Who are the key players/companies in the global ammonia market?