Ammonia Market Size & Share, by Form (Gas, Liquid, Powder); End-user (Pharmaceutical, Fertilizer, Pulp & Paper, Refrigerators, Textile, Mining); Sales Channel (Direct, Distribution) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4518
  • Published Date: Feb 10, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Ammonia Market size is projected to cross USD 120 Billion by the end of 2033, witnessing around 7% CAGR during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of ammonia was USD 75 Billion. The increasing population worldwide rises the need for more crop yield leading to positive market growth. The world population was about 7,926,081,300 as of 2022, as per estimations of the U.S Census Bureau.

Rapid expansion and modernization of the agricultural industry across the world are expected to drive the growth of the ammonia market trend during the forecast period. According to the U.S Department of Agriculture, the net farm income is projected to rise by USD 7.3 billion i.e., a 5.2% increase from 2021 to USD 147.7 billion in 2022.

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Ammonia Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Use of Ammonia in Maritime Shipping – Ammonia is colorless and does not produce carbon dioxide on combustion. Also, ammonia can be produced from renewable sources such as water, electricity, and air. All these major factors are estimated to boost the market growth in the coming years. Ammonia is projected to be one of the leading alternatives to traditional oil-based fuels by 2050, according to the International Maritime Organization.

  • Increasing Refrigerator Purchases – The worldwide exported value of combined refrigerator-freezers in 2021 was USD 19,591,263.

  • Rising Production of Explosives – The global imported value of explosives as of 2021 was worth USD 897,597.

  • Less Cost of Renewable Ammonia – The cost of green ammonia is estimated to reach USD 310 per ton by 2050 from USD 720 to 1400 per ton in 2020.

  • High Demand for Fertilizers – Increasing feed use, the impact of COVID-19, and the Ukraine war increased the demand for fertilizers. To combat this Russian Government rose fertilizer exports increasing nitrogen fertilizers by 231 thousand tons to reach 5.7 million tons as of 2022.


  • Harmful Nature of Concentrated Ammonia
  • Producing Good Quality Ammonia is Difficult
  • High Capital Investment for Green Ammonia

Ammonia Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2022)

 ~ USD 75 Billion

Forecast Year Market Size (2033)

~ USD 120 Billion

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Ammonia Segmentation

End-user (Pharmaceutical, Fertilizer, Pulp & Paper, Refrigerators, Textile, Mining)

The global ammonia market is segmented and analyzed for demand and supply by end-user into pharmaceutical, fertilizer, pulp & paper, refrigerators, textile, mining, and others. Out of these, the fertilizer segment is anticipated to hold the largest market size by the end of 2033 on the account of rising utilization of biofertilizers, the increasing need for food crops, and the rising population. It is estimated that the world’s population reached about 8 billion by 2022 and is projected to reach 10 billion by the end of the century.

Our in-depth analysis of the global market includes the following segments:

 By Form

  • Gas
  • Liquid
  • Powder

 By End User

  • Pharmaceutical
  • Fertilizer
  • Pulp & Paper
  • Textile
  • Refrigerators
  • Mining
  • Others

 By Sales Channel

  • Direct
  • Distribution


Major Macro-Economic Indicators Impacting the Market Growth

Ammonia Market

Chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.

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Ammonia Industry - Regional Synopsis

Regionally, the global ammonia market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 on the back of increasing agricultural activities, growing crop production, and high production rates of ammonia in the region. China is estimated to be the largest ammonia producer in the Asia Pacific, and it produced about 40 million metric tons of contained nitrogen in 2021.

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Companies Dominating the Ammonia Landscape

    • Yara International ASA
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • CF Industries Holdings, Inc.
    • Nutrien Ltd.
    • Group DF
    • OCI N.V.
    • EuroChem Group AG
    • SABIC
    • Orica Limited
    • Uralchem JSC
    • AB “Achema”


In The News

  • CF Industries Holdings, Inc’s subsidiary CF Fertilizers UK declared its plan to cease ammonia production for a short span at Billingham Complex on account of market situations. As the price of ammonia in market is half the spending cost of production the company stopped the plant.

  • Yara International ASA associated with JERA Co., Inc to produce green and blue ammonia with the aim of decarbonization and enabling zero carbon emission in Japan.

Author Credits:  Smruti Ranjan, Rajrani Baghel

  • Report ID: 4518
  • Published Date: Feb 10, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing use of ammonia in maritime shipping and the rising production of explosives are the major factors driving the growth of the ammonia market.

The market is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2033.

Harmful nature of concentrated ammonia and high capital investment for green ammonia are the challenges affecting the market growth.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Yara International ASA, CF Industries Holdings, Inc., Nutrien Ltd., Group DF, OCI N.V., EuroChem, Group AG, SABIC, Orica Limited, Uralchem JSC, and AB “Achema”.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by form, end-user, sales channel, and by region.

The fertilizer segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Ammonia Market Report Scope

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