Southeast Asia Ammonia Market Report and Forecast 2024-2032

Southeast Asia Ammonia Market Outlook

The Southeast Asia ammonia market attained a volume of 9.32 MMT in 2023. The market is further expected to grow at a CAGR of 2.20% between 2024 and 2032, to reach a volume of 11.33 MMT by 2032.

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Key Trends in the Market

Ammonia is a clear and colourless gas with a pungent odour which contains nitrogen and hydrogen atoms. It is a stable compound widely used as a fertiliser and in mining, textiles, and pharmaceuticals. Ammonia is a naturally occurring compound which is also utilised in the manufacturing of variety of industrial and commercial products.  

• The Southeast Asia ammonia market is being driven by the growing collaborations between major chemical manufacturers across strong economies such as Indonesia, aimed towards improving the value chain of ammonia in order to cater to the demands of various end use industries.

• The versatility of ammonia makes it applicable in various sectors such as textile, mining, refrigeration, and pharmaceuticals among others. In this regard, the growing research and development activities in the pharma sector in this region are likely to bolster the demand for ammonia in the forecast period.

• Growing efforts by companies across this region to develop ammonia power plants, in order to explore the use of this compound as a fuel for powering gas turbine and combined cycle system, are expected to provide impetus to the Southeast Asia ammonia market in the coming years.

Market Analysis

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Based on type, the market can be segmented into gas and liquid. On the basis of application, the market can be classified into fertilisers, textile, mining, pharmaceuticals, and refrigeration, among others. The key countries in the Southeast Asia market for ammonia include Myanmar, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Southeast Asia ammonia market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• Yara International ASA

• PT Pupuk Kalimantan Timur (PKT)

• PETRONAS Chemicals Group Berhad

• Brunei Fertilizer Industries Sdn Bhd (BFI)

• Linde plc

• Teknogas (M) Sdn Bhd

• NFC Public Company Limited

• Pride-Chem Industries

• Others

Market Share by Type

Based on type, the gas segment accounts a significant share in the Southeast Asia ammonia market. Ammonia gas is versatile and is commonly used as a refrigerant gas in the industrial sector. It is also used in the manufacturing of explosives, plastics, and dyes and chemicals, among others. In addition, ammonia gas is also considered to be a building block in pharmaceuticals. Hence, the thriving pharma sector across the Southeast Asian countries is further propelling the demand for ammonia gas. Meanwhile, the increasing usage of ammonia liquid in the food transport sector and water treatment projects is offering lucrative opportunities to the liquid type of ammonia in Southeast Asia. 

Market Share by Application

The fertilisers segment, based on application, accounts for a healthy share of the Southeast Asia ammonia market. Ammonia is a crucial ingredient in the production of nitrogen fertiliser, which is an important nutritional component for crops. A significant amount of ammonia produced annually is used in the manufacture of nitrogen fertiliser. The burgeoning agriculture sector across the region is generating a steady demand for ammonia for the production of fertilisers. Meanwhile, ammonia is an excellent refrigerant owing to its robust heat transfer properties. Over the forecast period, the anticipated increase in demand for refrigerants in the food processing sector is expected to improve the ammonia market growth in Southeast Asia.

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Competitive Landscape

Yara International ASA is a leading chemical company which produces agricultural and industrial products. This company provides clean ammonia to various parts of the world to meet the growing demand from different end use sectors. Yara International ASA was founded in the year 1905 and is currently headquartered in Oslo, Norway. 

PT Pupuk Kalimantan Timur (PKT) is a chemical products manufacturing company which was established in the year 1977 and is currently headquartered in Bontang, Indonesia. It is one of the largest urea and fertiliser manufacturing companies around the world. This company is dedicated towards revolutionising its manufacturing processes by incorporating industry 4.0 protocols and systems.

PETRONAS Chemicals Group Berhad was founded in the year 1985 and is currently headquartered in Kuala Lampur in Malaysia. It is one of the largest chemical producers in Southeast Asia with a production capacity of more than 10 MMT. A leading producer of fertilisers and plastics, the company also provides isononanol, specialty chemicals, polymers, ammonia, methanol, aromatics, olefins, glycols, and derivatives. 

Other market players include Brunei Fertilizer Industries Sdn Bhd (BFI), Linde plc, Teknogas (M) Sdn Bhd, NFC Public Company Limited, and Pride-Chem Industries, among others.

Key Highlights of the Report