According to IMARC Group’s latest report, “Ammonia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global ammonia market reached a value of US$ 71.34 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 100.17 Billion by 2027, exhibiting a CAGR of 5.60% during 2022-2027. Ammonia (NH3) is an inorganic alkaline compound that appears as a clear, colorless gas with a pungent odor. It is industrially produced using the Haber-Bosch process that involves the reaction of hydrogen and nitrogen in the presence of a catalyst. It can be easily compressed into liquid form, which dissolves in water to form ammonium hydroxide. It is also widely used to manufacture nitrogen-based fertilizers, such as urea, ammonium nitrates, ammonium phosphates, and ammonium sulfate, for the proper growth of crops and plants. Ammonia also finds extensive applications in the production of plastics, rubber, chemicals, textiles, explosives, coloring agents, household cleaning products, and pesticides.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Ammonia Market Trends:
The surging need for agricultural chemicals, such as fertilizers and pesticides, to enhance the farm yield due to the expanding population, declining arable land, and escalating food demand represents the primary factor driving the market growth. In addition, the rising product adoption as a purifying agent in water treatment plants to filter impurities and purify liquid mediums without causing any adverse environmental impacts has augmented the demand for ammonia. It is also extensively utilized as a refrigerant in heating, ventilation, and air conditioning (HVAC) systems since ammonia quickly absorbs heat from the surroundings. Furthermore, there has been widespread adoption of ammonia in manufacturing household cleaning products and detergents as it is highly effective in breaking down household grime, removing stains, and cleaning glass without leaving any residual streak marks. In line with this, the development of green ammonia using sustainable technologies has accelerated the product adoption rate. Other factors, including the significant growth in the agriculture sector, escalating demand for ammonium nitrate for mining and explosive applications, growing inclination toward sustainable energy consumption systems, and emerging industrial applications, are also creating a favorable market outlook.
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Global Ammonia Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
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
- Yara International ASA.
Breakup by Physical Form:
- Anhydrous Ammonia
- Aqueous Ammonia
Breakup by Application:
- MAP and DAP
- Nitric Acid
- Ammonium Sulfate
- Ammonium Nitrate
Breakup by End-Use Industry:
- Industrial Chemical
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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