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Report Overview

The global ammonia market reached a volume of approximately 194.80 MMT in 2024. The market is assessed to grow at a CAGR of 1.90% in the forecast period of 2025-2034 to reach a volume of around 235.14 MMT by 2034.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

  • India was the top importer of ammonia in 2020, where imports were valued at USD 1.4 billion, followed by United States at USD 781 million and South Korea at USD 412 million.
  • In June 2024, price of ammonia per kilogram increased by 4.3% and 1.9% in North America and Europe.
  • In 2023, 191 million tonnes of ammonia was produced globally in the form of grey and brown ammonia, using natural gas and coal feedstocks respectively.

Compound Annual Growth Rate

Value in MMT

1.9%

2025-2034


Ammonia Market Outlook

*this image is indicative*

ammonia market

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Ammonia Market Growth

Ammonia refers to a gas with the chemical formula of NH3, and it is a combination of nitrogen and hydrogen. The characteristics of ammonia include a colourless appearance, pungent smell, and dissolution in water to offer an alkaline solution. The gas does not contribute to ozone depletion, global warming or other environmental impacts when released into the atmosphere, therefore is considered an environmentally friendly refrigerant. It has a very limited atmospheric lifetime and so is biodegradable.

The ammonia market outlook look promising as the total production capacity is expected to increase from 238 million metric tonnes per annum in 2022 to 311 million metric tonnes by 2030, driven by over 100 new ammonia plants in development. Furthermore, ammonia is widely used as a fertiliser in agricultural sector. With the high rate of population growth worldwide, there is increased pressure on farmers everywhere to significantly increase agricultural output to keep up with the rising demand for various types of grain and food crops. This necessitates a substantial amount of fertiliser, which is produced using ammonia.

Key Trends and Developments

Ammonia Market Trends

Direct emissions from ammonia production amount to 450 Mt CO2, and indirect emissions are around 170 Mt CO2 per year. This is rising the demand for low-carbon green ammonia, produced using green hydrogen and water electrolysis. Moreover, government policies like the Inflation Reduction Act in the US and carbon pricing mechanisms in Europe are expected to improve the economics of green ammonia. As per industry reports, over 10 million tonnes of new green ammonia production capacity has been announced in the last year, which can augment overall ammonia market growth.

Additionally, the restriction on chlorine and fluorine-containing refrigerants is resulting in the rising utilisation of ammonia as a refrigerant in food preservation and air-conditioning processes, which is further increasing the market growth. Moreover, there is an increased adoption of ammonia as a zero-carbon fuel by the maritime sector to replace the use of fossil fuels in marine engines. A study conducted by Sphera in June 2024, commissioned by the Society for Gas as a Marine Fuel, has found that using ammonia as a marine fuel can reduce greenhouse gas emissions by up to 61%, which can help meet International Maritime Organisation's (IMO) GHG reduction targets.

ammonia market by segments

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Ammonia Industry Segmentation

The EMR’s report titled “Ammonia Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type:

  • Liquid
  • Gas

Market Breakup by End Use:

  • Agriculture
  • Textile
  • Mining
  • Pharmaceutical
  • Refrigeration
  • Others

Market Breakup by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Ammonia Market Share

Agriculture, textile, mining, pharmaceutical, and refrigeration are the major end uses in the market

The agriculture sector occupies a significant portion of the market share. There is a rising injection of ammonia directly into the soil using tractor-drawn knives and shanks to place it below the soil surface and avoid its release in vapour form. It binds the air-borne nitrogen, which is an essential crop nutrient. Thus, ammonia gas plays a critical role in crop production. Also, it is used to produce urea, a protein source in livestock feeds. Moreover, it is used as an antifungal agent on certain fruits, pre-harvest cotton defoliant, and as a preservative for storing high-moisture corn.

In the textile sector, ammonia is utilised for dyeing cotton, wool, and silk. It also serves as a catalyst in the production of synthetic resins and fibres, such as acrylic fibres. As per ammonia market analysis, the mining sector uses ammonia to extract minerals like copper, molybdenum, and nickel from their ores. The pharmaceutical sector leverages ammonia in drug production, particularly for drugs that prevent bacterial growth. It's also used in clinical settings as a stimulant to avoid fainting.

Liquid and gas are the different types of ammonia in the market, both having equal market share

Liquid ammonia segment in ammonia market report, is a nonaqueous ionising solvent that is obtained by compressing gaseous ammonia. It has a low melting point and acts as a better solvent for organic compounds. It is safe to handle and avoids the hazards that are associated with the use of gaseous ammonia. On the other hand, gaseous ammonia is a non-flammable gas that is commonly used as a refrigerant in various applications owing to its energy efficiency and low cost.

Leading Companies in the Ammonia Market

Market players are focused on sustainable production and strategic investments for market expansion

Yara International ASA

Yara International ASA is based in Oslo, Norway and was founded in 1905 as Norsk Hydro. It later de-merged as Yara International ASA in 2004. It offers nitrogen-based mineral fertilisers and has operations in more than 60 countries and sells its products to about 150 countries around the world.

CSBP Limited

CSBP Limited was founded in 1910 and is headquartered in Kwinana, Western Australia. It is the largest global supplier of explosive-grade ammonium nitrate. The company also manufactures ammonia, delivers fertilisers, and nutritional management solutions to growers.

CF Industries Holdings, Inc.

CF Industries Holdings, Inc. is a leading global fertiliser company that was founded in 1946 and is headquartered in Illinois, United States. The company produces and distributes nitrogen and phosphate fertilisers, with operations in the United States, Canada, and Europe.

Koch Fertilizer, LLC

Koch Fertilizer, LLC was founded in 1989 and is headquartered in Kansas, United States. It offers a full line of fertilisers designed to boost crop performance. Company’s product portfolio includes ammonia, urea, UAN, phosphate, potash, and sulfur-based products.

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other key players in the global ammonia market include GROUP DF, CASCALE SA, OCI N.V., Acron Group, BASF SE, SABIC, Indian Farmers Fertiliser Cooperative (IFFCO), and Nutrien Ltd, among others.

Ammonia Market Analysis by Region

Asia-Pacific Region is expected to dominate the market due to increasing demand and availability of low-cost feedstock

The Asia Pacific is one of the leading markets, owing to the increasing agricultural activities and the adoption of ammonia-based fertilisers in the region. Additionally, the government initiatives to ensure green ammonia for the environmentally sustainable energy security of the APAC countries are likely to aid the ammonia market share in the region. For instance, in February 2023, the Government of India notified the Green Ammonia Policy, which is a major policy enabler for producing green ammonia using renewable sources of energy to offer clean fuel.

Meanwhile, the initiatives taken by the market players in decarbonising ammonia production facilities by 2030 are expected to aid the market expansion in Europe. In February 2021, Copenhagen Infrastructure Partners, along with A.P. Moller-Maersk, announced plans to establish the Power-to-X facility, Europe’s largest production facility of green ammonia. The green ammonia produced by the facility will be used as a green fertiliser by the agricultural sector and as a sustainable fuel by the shipping sector.

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Ammonia Market Report Snapshots

Ammonia Market Size

Ammonia Market Share

Ammonia Market Growth

Ammonia Market Trends

Ammonia Market Regional Analysis

Ammonia Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the ammonia market attained a volume of approximately 194.80 MMT.

The market is expected to grow at a CAGR of 1.90% between 2025 and 2034.

The market is assessed to reach almost 235.14 MMT by 2034.

The major drivers of the market include the rising application of ammonia in the production of fertilisers, increasing food demands, escalating eco-consciousness, awareness about the importance of cleanliness and hygiene, ability to absorb substantial amounts of heat from its surroundings, and need to reduce dependency on fossil fuels.

Key trends aiding market expansion include the increasing utilisation in various end-use sectors, favourable government initiatives, and the rising production of green ammonia.

Ammonia can be an environment-friendly alternative to other fuels in the shipping and aviation sector as it can reduce the emissions.

Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The green ammonia refers to the ammonia production that is renewable and carbon-free, using nitrogen from the air and hydrogen from water electrolysis.

The various end uses of ammonia include agriculture, textile, mining, pharmaceutical, and refrigeration, among others.

Key players in the market are Yara International ASA, CSBP Limited, CF Industries Holdings, Inc., Koch Fertilizer, LLC, GROUP DF, CASCALE SA, OCI N.V., Acron Group, BASF SE, SABIC, Indian Farmers Fertiliser Cooperative (IFFCO), and Nutrien Ltd, among others.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • End Use
  • Region
Breakup by Type
  • Liquid
  • Gas
Breakup by End Use
  • Agriculture
  • Textile
  • Mining
  • Pharmaceutical
  • Refrigeration
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Price Analysis
  • Historical Price Trends
  • Forecast Price Trends
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Yara International ASA
  • CSBP Limited
  • CF Industries Holdings, Inc.
  • Koch Fertilizer, LLC
  • GROUP DF
  • CASCALE SA
  • OCI N.V.
  • Acron Group
  • BASF SE
  • SABIC
  • Indian Farmers Fertiliser Cooperative (IFFCO)
  • Nutrien Ltd
  • Others

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