Middle East Ammonia Market Size by Type (Anhydrous Ammonia, Aqueous Ammonia), By Application (Fertilizers, Refrigeration, Pharmaceuticals, Water Purification Chemicals), Industry Analysis Report, Country Outlook, Application Development Potential, Price T

Middle East Ammonia Market Size by Type (Anhydrous Ammonia, Aqueous Ammonia), By Application (Fertilizers, Refrigeration, Pharmaceuticals, Water Purification Chemicals), Industry Analysis Report, Country Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2022 - 2028

The Middle East ammonia market is estimated to grow at a notable rate by 2028 owing to a positive outlook in the region’s refrigeration, pharmaceutical, and chemical industries among others. In addition, an abundance of natural gas, a major cost-effective raw material in ammonia production, is likely to further propel the market growth through the forecast period.

The Middle East region boasts of the biggest trade chain of cold meat and dairy products, which has been a major factor in fueling the demand for ammonia as a refrigerant, predominantly driving industry expansion.

Additionally, rising awareness around the benefits of fertilizers and the consequent high demand from the region’s agricultural sector would further outline the market growth scenario.

Recently, regional industry players have been focusing on mergers and acquisitions to fuel geographical expansion, which has further aided in business growth. For instance, in January 2022, Sabic, Saudi Arabia’s state-owned chemical manufacturing firm, signed an agreement to buy a 49% stake in EIHL, a leading fertilizers and agro-chemicals firm, to expand its operations globally and garner its business growth.

To cite another instance, in March 2022, Ma’aden (Saudi Arabian Mining company), Riyadh’s leading ammonia manufacturer, exported its first shipment from its new ammonia berth in Ras Al Khair industrial city, through one of the four new vessels that were introduced to its shipping fleet. The company’s maritime ammonia fleet is now made up of seven vessels, effectively helping the firm drive faster business growth across the globe.

The Middle East ammonia market has been bifurcated into different segments based on application, type, and country.

In terms of application, the middle east ammonia market has been further divided into chemical, refrigerator, pharmaceuticals, fertilizer, water purification, and others.

The middle east ammonia market from the pharmaceutical segment is expected to grow due to the rapidly rising geriatric population and the high prevalence of numerous lifestyle-related diseases like diabetes and obesity, which is expected to drive the demand for more pharma products in the region, fostering demand for ammonia by extension.

The water purification systems segment is also forecast to register a notable growth rate through the projected time period. The overall lowering quality of water and the acute lack of freshwater sources across Middle Eastern countries is expected to drive the demand for clean water, creating a higher need for water purification systems, contributing to market growth.

The other application areas of ammonia, including household as well as industrial cleaners, are expected to witness a huge demand owing to the rapid urbanization and industrialization in the region. Additionally, growing awareness about hygiene and cleanliness among the local population is also likely to fuel industry size.