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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Ammonia Market Report Snapshots
Ammonia Market Regional Analysis
*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 2023, the ammonia market attained a volume of approximately 194.8 MMT.
The market is expected to grow at a CAGR of 1.90% between 2024 and 2032.
The market is assessed to reach almost 218.3 MMT by 2032.
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.
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