Ammonia Market Size, Industry Share, Growth, Trends, Key Players Analysis, Report 2024-2032

The latest report published by IMARC Group, titled “Ammonia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on ammonia industry trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global ammonia market size reached US$ 79.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 120.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.54% during 2024-2032.

Ammonia is a chemical compound composed of nitrogen and hydrogen with the molecular formula NH3. It is a colorless gas with a pungent odor and is commonly used in various industrial applications. Ammonia is a crucial component in the production of fertilizers, as it provides essential nitrogen for plant growth. It is also employed in refrigeration systems, acting as a refrigerant, and in the manufacturing of household cleaning products. Additionally, ammonia is used in the synthesis of various chemicals and plays a role in certain industrial processes. While primarily a gas, ammonia can exist in a liquid state under high pressure or low temperatures, making it versatile in different industrial contexts.

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Market Trends:

The global market is majorly driven by the increasing demand for fertilizers. As a primary component in nitrogen-based fertilizers, ammonia is vital for enhancing crop yields and supporting agricultural productivity to meet the rising food demands of a growing population. Furthermore, the expanding refrigeration and cooling industry contributes to market growth. Ammonia serves as an environmentally friendly refrigerant with zero ozone depletion potential and low global warming potential, making it a preferred choice amid efforts to phase out more harmful substances. Moreover, ammonia's use in the manufacturing of chemicals, including polymers, plastics, and resins, drives market expansion. It serves as a crucial raw material in various industrial processes, contributing to the production of diverse end products. The energy sector plays a significant role in ammonia market dynamics. Ammonia is explored as a potential energy carrier and a source of green hydrogen, aligning with the global shift towards sustainable and renewable energy solutions. Its use in the emerging field of green ammonia production, where hydrogen is produced through renewable energy sources, holds promise for a more sustainable future. Government initiatives promoting sustainable agriculture, environmental regulations favoring ammonia as a refrigerant, and investments in clean energy solutions further stimulate market growth.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• 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

Ammonia Market Segmentation:

Our report has categorized the market based on region, physical form, application, and end use industry.

Breakup by Physical Form:

• Liquid
• Powder
• Gas

Breakup by Application:

• MAP and DAP
• Urea
• Nitric Acid
• Ammonium Sulfate
• Ammonium Nitrate
• Others

Breakup by End Use Industry:

• Agrochemical
• Industrial Chemical
• Mining
• Pharmaceutical
• Textiles
• Others

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 (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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