Global Ammonia Market Size Worth $1,79,574.4 Mn By 2032 | CAGR: 4.4%

Ammonia Market

In 2022, the ammonia market was estimated to be worth US$ 1,67,45.3 Mn. The historical CAGR being 3.4% from 2017-2021, by 2032, it is anticipated to have grown to US$ 1,79,574.4 Mn, marking a CAGR of more than 4.4%.

Due to strong demand, ammonia has been extensively used to produce industrial explosives and fertilizers. The market has been significantly impacted by several macroeconomic issues, including the growing population, the agricultural sector, and the mining industry.

Global Ammonia Market 2022-2032: Drivers & Restraints

The demand for various agrochemicals, such as fertilizers (urea, MAP, DAP, etc.), rises as agricultural productivity rises, thus indirectly raising the demand for ammonia. Due to the expanding need for fertilizers, ammonia consumption has increased, extending the market’s value throughout the projected period. Farmers will also benefit from government fertilizer subsidies, increasing regional ammonia demand.

For several uses, the demand for ammonia in some regions surpasses domestic production. As a result, these areas are extremely dependent on imports. To meet its demand, North America must import ammonia, which compels the region to deal with several problems like price volatility and a lack of providers, which places certain restrictions on the ammonia market.

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Global Ammonia Market 2022-2032: Report Coverage and Highlights:

  • Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
  • Key drivers, restraints, opportunities, and key emerging trends impacting market growth
  • Predictions on critical supply, demand, technological trends, and changes in consumer behavior.
  • Covid-19 impact on the market and how to navigate
  • Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
  • Segment-wise(materials and application), country-wise, and region-wise market analysis
  • Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
  • Key product innovations and regulatory framework

Market Segments Covered in Report

By Product Type:

  • Anhydrous Ammonia
  • Aqueous Ammonia

By Application:

  • MAP (Mono-ammonium Phosphate)
  • DAP (Di-ammonium Phosphate)
  • Urea
  • Nitric Acid
  • Ammonium Phosphate
  • Ammonium Nitrate
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Key Takeaways:

By Product Type: Due to the product’s high demand and wide availability in gaseous and liquid forms, the anhydrous ammonia segment’s share is anticipated to be on the higher side. Furthermore, significant ammonia suppliers expect to strengthen their value chains through downstream manufacturing and by upholding long-term agreements with customers.

Throughout the forecast period, the market is anticipated to grow at a high CAGR of 4.4%. Additionally, over the forecast period, robust fertilizer demand, notably demand for nitrogen- and phosphate-based fertilizers, is anticipated to enhance anhydrous ammonia demand.

By Application: The urea category is regarded as a well-known one with significant market appeal. Between 2022 and 2032, the segment is predicted to generate an additional US$ 36.24 billion market opportunity. This can be due to the increased usage of fertilizers throughout various regions to improve crop output quality and quantity.

The need for agrochemicals, particularly fertilizers, is rising along with the agricultural sector’s growth globally due to increased urbanization and population growth, which is driving up ammonia consumption.

By Region: China is a significant producer and consumer of ammonia worldwide. Ammonia usage has been fueled by the nation’s many fertilizer productions, which is further supported by the presence of numerous industries there. China’s expected annual ammonia production is 49.0 million tonnes, compared to the anticipated 44.0 million tonnes of yearly ammonia demand.

Competition Analysis

Leading market players are concentrating on increasing their production capacity to meet the escalating demand from end customers. They are purchasing additional ammonia producers to broaden their customer base and strengthen their industry leader position. Instead of producing brown ammonia, some businesses have chosen to produce green ammonia and have changed their equipment to do so.

Growth in the market is anticipated to be fueled by the rising production of industrial explosives and significant production of fertilizers, including urea, MAP, DAP, and other types.

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