Ammonia Market

Analysis by Form (Gas, Liquid, and Powder); by End User (Pharmaceutical, Fertilizer, Pulp & Paper, Refrigerators, Textile, Mining, and Others); and by Sales Channel (Direct, Distribution) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4518 | Published On: Feb 10, 2023
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Major Macro-Economic Indicators Impacting the Market Growth


The 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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Global Ammonia Market: 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

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.

Global Ammonia Market 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.


The global ammonia market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global ammonia 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

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Top Featured Companies Dominating the Global Ammonia Market

    • 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

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the ammonia market?

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

2) What would be the CAGR of ammonia market over the forecast period?

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

3) What are the challenges affecting the ammonia market growth?

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

4) Which region will provide more business opportunities for growth of ammonia market in future?

Ans: 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.

5) Who are the major players dominating the ammonia market?

Ans: 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”.

6) How are the company profiles selected?

Ans: 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.

7) What are the segments in the ammonia market?

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

8) Which segment captures the largest market size in end-user in the ammonia market?

Ans: The fertilizer segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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