The Ammonia Market size is estimated at 188.41 Million tons in 2024, and is expected to reach 206.86 Million tons by 2029, growing at a CAGR of 1.89% during the forecast period (2024-2029).
During the COVID-19 pandemic, there was a negative impact on the ammonia market globally as agriculture, textile, mining, and other end-user industries were significantly affected. However, growth in the pharmaceutical segment is improving in the industry, and this is expected to assist in market development. Currently, the ammonia market has recovered from the pandemic and is growing significantly.
The ammonia market is highly fragmented in nature. The major players (not in any particular order) include CF Industries Holdings Inc., Yara, Nutrien Ltd, OCI, and Qatar Fertiliser Company (QAFCO).
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