Global Ammonia Market

Ammonia Market Size, Share, Growth Analysis, By Product(Aqueous Ammonia, and Anhydrous Ammonia), By Grade(Fertilizers (Urea, Ammonium Nitrate Composite, Ammonium Nitrate, Diammonium Phosphate)), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15B2092 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 94 | Figures: 73

Ammonia Market Regional Insights

Globally, The Asia-Pacific region holds a dominant position in the global ammonia market, owing to its high demand for fertilizers and industrial applications.

On the other hand, the Middle East and Africa are projected to be the fastest-growing regions in the ammonia market, primarily driven by the rising use of ammonia in the agricultural sector and the surging demand for nitrogen fertilizers.

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FAQs

Ammonia Market size was valued at USD 71.99 billion in 2021 and is poised to grow from USD 76.66 billion in 2022 to USD 125.85 billion by 2030, at a CAGR of 6.41% during the forecast period (2023-2030).

The ammonia market features a highly competitive landscape, with numerous players operating in the industry. Dominated by large multinational corporations with an established global presence and wide distribution networks, these players possess significant expertise in manufacturing and marketing ammonia-based products. To maintain a competitive edge in the market, these companies continue to invest heavily in research and development activities to improve their product portfolio. 'Yara International ASA', 'CF Industries Holdings, Inc.', 'OCI N.V.', 'EuroChem Group AG', 'Nutrien Ltd.', 'Koch Industries, Inc.', 'SABIC', 'Mitsubishi Chemical Corporation', 'Shanxi Jinfeng Coal Chemical Co., Ltd.', 'PJSC Acron', 'Grupa Azoty S.A.', 'Qatar Fertilizer Company (QAFCO)', 'Agrium Inc.', 'GSFC Ltd.', 'PotashCorp', 'Togliattiazot JSC', 'Orica Limited.'

The potential use of ammonia as an energy carrier is on the rise, primarily because of its high energy density and ease of transportation and storage. As renewable energy sources are becoming increasingly popular, the development of energy production technologies based on ammonia is being driven forward. this demand for ammonia for various industrial applications and energy. This increasing demand of ammonia in energy production and various applications will drive growth of the market.

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.

Globally, The Asia-Pacific region holds a dominant position in the global ammonia market, owing to its high demand for fertilizers and industrial applications.

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Global Ammonia Market

Report ID: SQMIG15B2092

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