Global Ammonia Market Overview:
According to the latest report by IMARC Group, titled “Ammonia Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global ammonia market reached a value of US$ 71.34 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 100.17 Billion by 2027, exhibiting a CAGR of 5.60% during 2022-2027.
Ammonia (NH3) represents a colorless gas and inorganic compound with a distinct odor. It occurs naturally throughout the air as well as in soil, plants, water, and animals. Ammonia is commonly used in manufacturing ammonium nitrate fertilizers, which discharge nitrogen in the soil to promote growth in farm crops or plants. It also finds extensive applications in the production of plastics, textiles, explosives, pesticides, coloring agents, etc. As a result, ammonia is widely utilized as a purifying agent in water treatment plants and as a refrigerant in heating, ventilation and air conditioning (HVAC) systems, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Ammonia Market Trends:
The escalating demand for efficient and nitrogen-rich ammonia-based fertilizers and agrochemicals to ensure optimal food production is one of the primary factors driving the ammonia market. Besides this, the inflating adoption of ammonia in manufacturing detergents and cleaning products is also propelling the market growth. Furthermore, the expanding population and the decreasing levels of arable lands available for crop cultivation are acting as significant growth-inducing factors. Additionally, the rising utilization of ammonia in breaking down household grime and eliminating stains of vegetable oils, fats, cooking grease, etc., from tubs, sinks, toilets, countertops, and tiles is further catalyzing the market growth. Moreover, the elevating need for ammonium nitrate for mining and explosive applications is positively influencing the global market. Apart from this, various product innovations, such as the development of green ammonia through sustainable technologies, are anticipated to bolster the ammonia market over the forecasted period.
Global Ammonia Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- Achema AB
- BASF SE
- CF Industries Holdings Inc.
- Koch Industries Inc
- Linde plc
- Nutrien Ltd
- OCI N.V.
- Orica Limited
- PJSC Togliattiazot
- Saudi Basic Industries Corporation
- Yara International ASA.
Breakup by Physical Form:
- Anhydrous Ammonia
- Aqueous Ammonia
Breakup by Application:
- MAP and DAP
- Nitric Acid
- Ammonium Sulfate
- Ammonium Nitrate
Breakup by End-Use Industry:
- Industrial Chemical
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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