Global Ammonia Market Size, Share, Growth Analysis Report - Forecast 2034

Ammonia Market: Industry Perspective

The global ammonia market size was worth around USD 80.25 Billion in 2024 and is predicted to grow to around USD 141.03 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 5.8% between 2025 and 2034. The report analyzes the global ammonia market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the ammonia industry.

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Ammonia Market: Overview

Ammonia is a compound comprising of a single nitrogen atom that is bonded covalently to three hydrogen atoms. Moreover, the inorganic chemical compound can also be produced naturally through the breaking down of organic substances and bacterial methods. Furthermore, it is utilized as fertilizer as well as a refrigerant and finds myriad applications in industrial processes. Apart from this, ammonia is in form of colorless gas as well as compressed liquid form. It has a pungent smell and dissolves in water to form an ammonium hydroxide solution which is utilized as a sanitizer as well as cleansing agents in homes as well as industrial premises.

Key Insights

• As per the analysis shared by our research analyst, the global ammonia market is estimated to grow annually at a CAGR of around 5.8% over the forecast period (2025-2034).
• Regarding revenue, the global ammonia market size was valued at around USD 80.25 Billion in 2024 and is projected to reach USD 141.03 Billion by 2034.
• The ammonia market is projected to grow at a significant rate due to Rising fertilizer demand and potential use as a clean fuel alternative.
• Based on Product Form, the Anhydrous Ammonia segment is expected to lead the global market.
• On the basis of Application, the Fertilizers segment is growing at a high rate and will continue to dominate the global market.
• Based on the End-user, the Agriculture segment is projected to swipe the largest market share.
• By Technology, the Haber-Bosch Process segment is expected to dominate the global market.
• Based on region, Asia-Pacific is predicted to dominate the global market during the forecast period.

Ammonia Market: Growth Drivers

Escalating demand for ammonia in the farming industry and a rise in the use of explosives are predicted to create lucrative growth avenues for the ammonia industry. For the record, nearly 81% of ammonia is utilized as fertilizer for increasing food yield to fulfill the food requirements of the rapidly surging population. Reportedly, the production of crops for food reduces the nutrient value of soil and hence ammonia is used by farmers as fertilizer for enhancing the fertility of the soil, thereby increasing food yield. Nonetheless, harmful effects of ammonia in concentrated form are predicted to adversely impact the growth ammonia market.

Moreover, massive use of ammonia in textiles and pharmaceuticals will enlarge scope of growth of ammonia market in upcoming years. Apart from this, ammonia is also used in food & beverages, wastewater treatment, metallurgical procedures, pulp & paper production, leather manufacturing, and rubber production. This, in turn, will contribute assiduously towards expansion of ammonia market in next couple of years. Nevertheless, low costs, low energy consumption, and effective heat transferring features of ammonia have enhanced its popularity as a refrigerant in various industries.

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Ammonia Market: Segmentation Analysis

The global ammonia market is segmented based on Product Form, Application, End-user, Technology, and region.

Based on product form, the global ammonia market is divided into anhydrous ammonia, aqueous ammonia.

On the basis of application, the global ammonia market is bifurcated into fertilizers, refrigerants, pharmaceuticals, textiles, household cleaning products, others.

By end-user, the global ammonia market is split into agriculture, industrial, commercial, others.

In terms of technology, the global ammonia market is categorized into haber-bosch process, electrolysis-based production, others.

Ammonia Market: Report Scope

Ammonia Market: Regional Landscape

Asia Pacific Ammonia Market To Retain Leading Position Over Next Seven Years

Growth of ammonia market in Asia Pacific zone over forecast timeline is subject to massive demand for product from the pharmaceutical industry in countries such as India and China. Additionally, increase in production capacity of manufacturing units in countries such as India, China, and Indonesia will intensify growth of regional market. With farming being major occupation of people in Asia, the ammonia market is likely to witness rapid growth in Asia Pacific region over coming years.

Ammonia Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the ammonia market on a global and regional basis.

The global ammonia market is dominated by players like:

• Huaqiang Chem Group
• Yara International
• China Petroleum & Chemical Corporation
• Shanxi Jinfeng Coal Chem
• CF Industries Holdings Inc
• BASF SE
• PotashCorp
• Rashtriya Chemicals & Fertilizers Ltd.
• China National Petroleum Corporation.

The global ammonia market is segmented as follows;

By Product Form

• Anhydrous Ammonia
• Aqueous Ammonia

By Application

• Fertilizers
• Refrigerants
• Pharmaceuticals
• Textiles
• Household Cleaning Products
• Others

By End-user

• Agriculture
• Industrial
• Commercial
• Others

By Technology

• Haber-Bosch Process
• Electrolysis-based Production
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa