Ammonia Market to Reach $87.7 Billion, Globally, by 2033 at 5.1% CAGR: Allied Market Research

In the coming years, the ammonia market is expected to grow significantly. Advances in technology, especially in sustainable production methods, are expected to play a crucial role in shaping the market growth. Ammonia’s potential as a clean energy source is also gaining attention, which is likely to surge further investment and innovation. Overall, the future looks promising for the global ammonia market, driven by traditional usage and new applications in cleaner energy solutions

Wilmington, Delaware      , Oct. 03, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Ammonia Market by Type (Aqueous, Anhydrous and Gas), Product Type (Green Ammonia, Blue Ammonia, Grey Ammonia and Brown Ammonia), End Use (Fertilizer, Chemical, Refrigeration, Fibers, Plastics, Pharmaceuticals, Paper and Pulp and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the ammonia market was valued at $53.2 billion in 2023, and is estimated to reach $87.7 billion by 2033, growing at a CAGR of 5.1% from 2024 to 2033. 

Prime determinants of ammonia market growth 

The global ammonia market is experiencing growth due to agriculture industry demand, growth in chemical manufacturing, and increase in industrial applications. However, fluctuating raw material prices, environmental concerns, and regulatory challenges hinder the market growth. Moreover, the expansion in the fertilizer industry and renewable ammonia production technologies are projected to provide opportunities for the ammonia market growth. 

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Report coverage & details: 

Report Coverage	Details
Forecast Period	2024–2033
Base Year	2023
Market Size in 2023	$53.2 billion
Market Size in 2033	$87.8 billion
CAGR	5.1%
No. of Pages in Report	325
Segments Covered	Type, Production Type, End-Use, and Region
Drivers	Agriculture industry demand    Growth in chemical manufacturing    Increase in use in industrial applications
Opportunity	Expansion of fertilizer industry    Renewable ammonia production technologies
Restraint	Fluctuation in raw material prices    Environmental concerns    Regulatory challenges

The anhydrous segment is expected to experience growth throughout the forecast period 

Based on type, the anhydrous ammonia segment dominates the market due to its widespread use in agriculture as a nitrogen-rich fertilizer. It is highly efficient for delivering nitrogen to crops, essential for optimal growth and yield. Anhydrous ammonia is also favored for its relatively lower cost compared to other nitrogen fertilizers. In contrast, aqueous ammonia, which is ammonia dissolved in water, finds niche applications in cleaning agents and industrial processes where precise ammonia concentrations are required. However, the agricultural demand for anhydrous ammonia significantly outweighs these industrial uses, making it the predominant type in the global ammonia market. 

The blue ammonia segment is expected to grow faster throughout the forecast period. 

Based on production type, the blue and green ammonia segment dominates the market as industries and governments prioritize decarbonization efforts, aiming to reduce greenhouse gas emissions and achieve sustainable production practices. Blue ammonia utilizes carbon capture and storage (CCS) to reduce emissions from traditional production methods, making it an environment-friendly option. While green ammonia produced using renewable energy sources like wind or solar power, is gaining traction due to its minimal carbon footprint, aligning with global sustainability goals. Grey and brown ammonia refers to conventionally produced ammonia with varying levels of environmental impact and emissions. 

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The fertilizer segment is expected to grow faster throughout the forecast period. 

Based on end-use, the fertilizer segment dominates the ammonia market due to its essential role in agricultural productivity. Ammonia is primarily used to manufacture nitrogen-based fertilizers like urea, which are crucial for enhancing crop yields worldwide. As global population and food demand rise, so does the need for efficient agricultural practices, driving continuous demand for fertilizers. Additionally, ammonia’s relatively low cost and high nitrogen content make it an economical choice for large-scale agricultural applications. While other industries like chemicals, refrigeration, and pharmaceuticals also rely on ammonia, the sheer volume of demand from the fertilizer sector establishes it as the leading end-use in the ammonia market. 

The Asia-Pacific segment dominated the market in 2023 

Asia-Pacific currently dominates the ammonia market due to its substantial agricultural sector and industrial growth. As of 2023, Asia-Pacific accounted for over 60% of global ammonia production capacity. This dominance is driven by high demand for fertilizers in countries like China and India, where agriculture is a major economic driver. Additionally, rapid industrialization in sectors such as chemicals, textiles, and pharmaceuticals further boosts ammonia consumption in the region. North America and Europe also play significant roles in the market, but Asia-Pacific’s sheer scale of agricultural and industrial activities cements its leadership position in ammonia production and consumption globally.   

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Leading Market Players: – 

• Qatar Fertilizer Co (QAFCO) 

• Parsian Oil and Gas Development Group Co. 

• Indian Farmers Fertiliser Co-operative Limited (IFFCO) 

The report provides a detailed analysis of these key players in the ammonia market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

About Us 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

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