Ammonia Market Projected to Reach USD 117.57 Billion by 2032, Driven by Agricultural Demand and Emerging Energy Applications
It can be produced through renewable sources, such as biomass and renewable energy. This innovative method of ammonia production provides a sustainable and eco-friendly alternative to the conventional method of using natural gas, which is a finite resource that has been linked to environmental issues, such as greenhouse gas emissions and climate change. Producing ammonia from biomass and renewable energy involves using renewable resources, such as agricultural waste or solar and wind energy, to power the process of ammonia synthesis.
Ammonia Market size was valued at USD 72 billion in 2023 and is poised to grow from USD 76.03 billion in 2024 to USD 117.57 billion by 2032, growing at a CAGR of 5.6% during the forecast period (2025-2032).
Get a free sample report today: https://www.skyquestt.com/sample-request/ammonia-market
Key Market Drivers:
Agricultural Demand: Ammonia is a critical component in the production of fertilizers such as urea and ammonium nitrate. The increasing global population necessitates higher agricultural productivity, thereby driving the demand for ammonia-based fertilizers.
Emerging Energy Applications: Ammonia is gaining attention as a potential clean energy carrier. Its high energy density and ability to be produced from renewable sources make it a promising candidate for energy storage and transportation, contributing to the global shift towards sustainable energy solutions.
Ammonia Market Segments Analysis
Ammonia Market is segmented by Type, Sales Channel, End-Use Industry and region.
Based on Type, the market is segmented into Anhydrous and Aqueous.
Based on Sales Channel, the market is segmented into Direct and Indirect.
Based on End-Use Industry, the market is segmented into Agriculture, Textile, Refrigeration, Mining, Pharmaceutical and Other End-Use Industries.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Regional Insights:
Asia-Pacific: Dominates the global ammonia market due to extensive agricultural activities and the presence of major fertilizer manufacturers.
North America and Europe: These regions are witnessing growth in ammonia demand, driven by advancements in green ammonia production and its potential use in clean energy applications.
For a customized report, contact us to request personalization: https://www.skyquestt.com/speak-with-analyst/ammonia-market
Top Players in Ammonia Market
CF Industries Holdings, Inc. (United States)
OCI N.V. (Netherlands)
EuroChem Group AG (Switzerland)
Nutrien Ltd. (Canada)
Koch Industries, Inc. (United States)
Mitsubishi Chemical Corporation (Japan)
Shanxi Jinfeng Coal Chemical Co., Ltd. (China)
PJSC Acron (Russia)
Grupa Azoty S.A. (Poland)
Qatar Fertilizer Company (QAFCO) (Qatar)
GSFC Ltd. (Gujarat State Fertilizers & Chemicals) (India)
PotashCorp (Canada)
Togliattiazot JSC (Russia)
Orica Limited (Australia)
Ammonia Key Market Trends:
A significant trend in the ammonia market is the increasing demand for ammonia as a fertilizer. Ammonia is a vital source of nitrogen for plants, and its high nitrogen content is essential for plant growth. With the rising demand for food, there is a growing need for efficient and effective fertilizers like ammonia to increase crop yield and quality. As a result, the ammonia market is expected to witness substantial growth in the coming years.
Future Outlook:
The ammonia market is poised for robust growth, propelled by its indispensable role in agriculture and its emerging applications in the energy sector. Innovations in production technologies and a global emphasis on sustainable practices are expected to further drive market expansion.
For a comprehensive analysis, refer to the full report by SkyQuest Technology: https://www.skyquestt.com/report/ammonia-market
