Ammonia Market Size, Share, Growth Report 2032

Global Ammonia Market Size

The global Ammonia Market size accrued earnings worth approximately 55.4 USD Billion in 2020 and is predicted to gain revenue of about 89.4 USD Billion by 2028, is set to record a CAGR of nearly 5.8% over the period from 2021 to 2028. The report offers an assessment and analysis of the Ammonia Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue USD Billion.

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Ammonia Market: Overview

Ammonia is a compound comprising of a single nitrogen atom that is bonded covalently to three hydrogen atoms. Moreover, the inorganic chemical compound can also be produced naturally through the breaking down of organic substances and bacterial methods. Furthermore, it is utilized as fertilizer as well as a refrigerant and finds myriad applications in industrial processes. Apart from this, ammonia is in form of colorless gas as well as compressed liquid form. It has a pungent smell and dissolves in water to form an ammonium hydroxide solution which is utilized as a sanitizer as well as cleansing agents in homes as well as industrial premises.

Ammonia Market: Growth Drivers

Escalating demand for ammonia in the farming industry and a rise in the use of explosives are predicted to create lucrative growth avenues for the ammonia industry. For the record, nearly 81% of ammonia is utilized as fertilizer for increasing food yield to fulfill the food requirements of the rapidly surging population. Reportedly, the production of crops for food reduces the nutrient value of soil and hence ammonia is used by farmers as fertilizer for enhancing the fertility of the soil, thereby increasing food yield. Nonetheless, harmful effects of ammonia in concentrated form are predicted to adversely impact the growth ammonia market.

Moreover, massive use of ammonia in textiles and pharmaceuticals will enlarge scope of growth of ammonia market in upcoming years. Apart from this, ammonia is also used in food & beverages, wastewater treatment, metallurgical procedures, pulp & paper production, leather manufacturing, and rubber production. This, in turn, will contribute assiduously towards expansion of ammonia market in next couple of years. Nevertheless, low costs, low energy consumption, and effective heat transferring features of ammonia have enhanced its popularity as a refrigerant in various industries.

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Ammonia Market: Regional Landscape

Asia Pacific Ammonia Market To Retain Leading Position Over Next Seven Years

Growth of ammonia market in Asia Pacific zone over forecast timeline is subject to massive demand for product from the pharmaceutical industry in countries such as India and China. Additionally, increase in production capacity of manufacturing units in countries such as India, China, and Indonesia will intensify growth of regional market. With farming being major occupation of people in Asia, the ammonia market is likely to witness rapid growth in Asia Pacific region over coming years.

Ammonia Market: Report Scope

Ammonia Market: Competitive Landscape

Some of the leading in the global market include

• Huaqiang Chem Group
• Yara International
• China Petroleum & Chemical Corporation
• Shanxi Jinfeng Coal Chem
• CF Industries Holdings, Inc.
• BASF SE
• PotashCorp
• Rashtriya Chemicals & Fertilizers Ltd.
• China National Petroleum Corporation.

The global Ammonia Market is segmented as follows:

By Product Form

• Gas
• Liquid
• Powder

By Application

• Fertilizers
• Pharmaceuticals
• Textile
• Refrigerants  

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa