According to the ChemAnalyst report titled “Global Ammonia Market Analysis: Plant Capacity, Production, Operating Efficiency, Foreign Trade, Demand & Supply, End-User Industries, Sales Channel, Company Share, Regional Demand, 2015-2030,” the Ammonia market is expected to experience substantial growth, reaching 300 million tonnes by 2030. This growth is projected to occur at a Compound Annual Growth Rate (CAGR) of 7.30% in the coming years, primarily driven by increasing demand from various end-use industries, including Agriculture, Fertilizers, Textiles, Pharmaceuticals, Explosives, Refrigeration, and others.
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Ammonia, with the chemical formula NH3, is an inorganic compound. It is a colorless gas with a strong, distinctive odor. Ammonia is primarily produced through the Haber process, which involves the reaction of hydrogen with atmospheric nitrogen in the presence of a catalyst. This compound is widely used in various industries and serves as a primary nitrogen source. Ammonia finds applications in fertilizers, air conditioning and refrigeration, plastics, detergents, explosives, pesticides, and more.
The driving force behind the global ammonia market is its use in agriculture and fertilizers, which accounted for over 60% of the market in 2021. Nitrogenous fertilizers are a common application in the agricultural industry, and the demand for fertilizers is expected to increase in the coming years due to the growing global population and the need for increased food production. Additionally, the pharmaceutical industry utilizes ammonia as a respiratory stimulant and in the manufacturing of medications. The production of ammonium hydroxide, a common ingredient in cleaning and disinfection solutions, also relies on ammonia as a raw material, further contributing to market growth. Ammonia is often added to chlorine in municipal water treatment systems to enhance the disinfection capabilities of chlorine.
The Ammonia market is categorized based on end-use, sales channels, and regions. In terms of end-uses, the Agriculture & Fertilizers industry is the dominant sector in the global ammonia market. It is expected to remain the most significant end-user industry during the forecast period due to the high demand for fertilizers required for crop production.
The Asia Pacific region is the largest consumer of ammonia among all regions, and it is anticipated to maintain its dominance throughout the forecast period. The growing demand for ammonia in the Agriculture and Fertilizer industry is expected to further drive demand in the Asia Pacific region. China currently leads as both the producer and consumer of ammonia, and this region is expected to increase production to meet rising demands.
Key players in the Global Ammonia market include CF Industries, Nutrien, Jinmei Group, Yihua Group, Qatar Fertilizer Co (QAFCO), PetroChina Group, TogliattiAzot, EuroChem Group, Acro Group, Yangmei Group, Parsian Oil and Gas Development Group Co., and Indian Farmers Fertiliser Co-operative Limited (IFFCO).
Mr. Karan Chechi, Research Director at TechSci Research, a research-based management consulting firm affiliated with ChemAnalyst, pointed out, “The rapidly increasing demand for ammonia is primarily due to its extensive use in the Agriculture & Fertilizer industry for the production of nitrogen-based fertilizers. This trend is expected to boost the ammonia market in the forecast period until 2030. In the coming years, as the global population continues to rise, there will be a substantial demand for crops, further increasing the demand for ammonia.”
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