OTTAWA, Oct. 25, 2024 (Globe Newswire) — The global ammonia market size is expected to reach approximately USD 162.53 billion by 2033, up from USD 93.79 billion in 2024. Masu. Ammonia market size in Asia Pacific is expected to reach approximately USD 85.52. Rising demand for ammonia from the pharmaceutical industry is driving the market. Additionally, increasing demand for agrochemicals will also contribute to market expansion.
Ammonia is widely used in biotechnology and pharmaceutical industries to produce medicines. The Haber-Bosch process produces hydrogen by mixing atomic hydrogen and nitrogen. Increasing usage of ammonia for fertilizer manufacturing is driving the market. It is used as a base material in fertilizers because it combines with nitrogen from the air to produce nitrogen, the most important crop nutrient. Ammonia is also widely used in the textile industry. It is used as a finish and dye for materials including cotton.
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key insights
North America garnered the highest revenue share of approximately 37.79% in 2023. Asia Pacific gained approximately 23.99% of the revenue share in 2023. By application, the biopharmaceutical sector had the highest revenue share of 41.73% in 2023. Bio-industrial applications segment gained 24.33% revenue share in 2023. By technology, the tissue engineering and regeneration segment accounted for 19.26% revenue share in 2023. Report scope details 2023 market size 88.23 billion USD Forecast (2034) 172.77 billion USD Forecast CAGR 6.3% Top companies from 2024 to 2034 Achema AB, ACME Group, ACRON, Acron, AquaHydrex , BASF SE, CF Industries Holdings Inc., China Petrochemical Corporation, Electrochaea, Enter, ENGIE, EuroChem Group AG, EXTRON, Fertiglobe plc, Green Hydrogen Systems, Greenfield Nitrogen LLC, Group DF, Haifa Chemicals Ltd., Haldor Topsoe, Helm AG, Hiringa Energy, Honeywell International, Hydrogenics, Incitec Pivot Ltd, Indian Farmers Fertilizer Cooperative Limited, others
Asia Pacific dominates the ammonia market
In 2023, the ammonia market was dominated by Asia Pacific. This is mainly due to increased demand for agricultural products. India, China and Indonesia are the key countries in the regional market. China is the largest producer and consumer of ammonia, accounting for more than 50% of the market share in the Asia-Pacific region. With increasing agricultural practices in countries like India, the demand for fertilizers is increasing, contributing to the market growth. Additionally, increasing initiatives to promote ammonia production are driving market growth in the region.
In October 2024, the Central Power Transmission Utility of India announced that it will establish an interstate transmission system network of 19,500 MW for renewable energy by FY30, with green hydrogen and ammonia production plants in Gujarat, Tamil Nadu and Andhra Pradesh. announced plans to provide services. Pradesh has set a target to produce 1 million tonnes of green hydrogen and green ammonia annually by 2029, with investment proposals worth Rs 1,150 crore and creation of 20,000 jobs.
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North America is expected to grow at a significant rate
The North American ammonia market is expected to grow at a significant rate during the forecast period. Demand for ammonia in the United States correlates with the expansion of the region’s finished products sector, particularly the agricultural sector. Population growth and increases in agricultural productivity mean a corresponding increase in fertilizer use. The United States ranks among the top producers of ammonia, which is used to make synthetic fibers, polymers, resins, and other chemicals. Increase in industrial production will further contribute to market expansion. Companies in the region are investing heavily in research and development and manufacturing technology to increase ammonia production.
Product insights
In 2023, the liquid segment dominated the market. Fertilizer grade dehydrated ammonia is a highly compressed colorless, odorless gas liquid. In addition, liquid ammonia has applications in industrial cleaning services and in the synthesis of some substances. Liquid ammonia is often used as a solvent in the production of fertilizers, plastics, and artificial yarns due to its solubility in organic solvents. Additionally, the unique chemical properties of this compound make it useful in cleaning processes in the pharmaceutical industry. It is ideal as a cleaning agent because it can break down grease and oil. Its versatility in applications makes it a favorable choice for several industries. Ongoing research and refinement highlight its effectiveness for future use.
Application insights
Fertilizer segment led the ammonia market in 2023. Anhydrous ammonia, a colorless gas that is a highly concentrated source of nitrogen, is widely used in agriculture primarily because it is considered cheap and nutritious. Plants quickly absorb this compound ammonia and convert it to the nitrate form, allowing for healthy crop growth. Reliance on overuse of nitrogen fertilizers is reduced and greenhouse gas emissions are much lower. The rich nutritional profile and high efficiency contribute to high crop production with low input costs. Ammonia is found in anhydrous ammonia, ammonium nitrate, urea, and ammonium sulfate. Application methods include direct injection, broadcast application, and fertilization.
market trends
driver
Wide range of applications driving ammonia market growth
Ammonia is the second most widely produced substance after cement, and has applications in agriculture, household cleaning products, metal finishing, and even petroleum. Ammonia is used in waste treatment, leather, rubber and paper manufacturing, food and beverages, refrigeration and pharmaceutical storage, ice-making and refrigeration systems, pharmaceutical manufacturing, pharmaceutical printing, and fermentation processes in beauty products and food. In agriculture, it is also used as an important base material for fertilizers. Ammonia is also used as a cleaning agent. In metal processing, dissociated ammonia atmospheres are also applied in processes such as storage reactions, carbon-nitrogen hardening, and hydrogen welding. Additionally, increasing production of ammonia will propel the market growth.
restraint
Toxicity issues are hindering ammonia market growth
Ammonia and ammonium hydroxide are both corrosive substances with serious health implications. Short-term exposure can cause inflammation of the upper respiratory system and related structures, while exposure through the mouth can cause mouth and throat sores, severe drooling, and burning burns. Moderate levels of exposure can cause destruction of the oral cavity, nasal airways, and voice box, difficulty breathing, and swelling of the lungs and bronchial tubes. Ammonia exhibits no structural warnings indicating potential DNA reactivity and is not listed among substances known or suspected to cause cancer in humans or animals.
opportunity
technological progress
The industrial ammonia synthesis process consumes 1.8% of the world’s energy supply and produces approximately 500 million tons of CO2 emissions. Therefore, energy efficient strategies are in great need in today’s world. Due to the low cost of potassium iron oxide catalysts, 80% of the ammonia produced using the Haber-Bosch process is used to make fertilizers. However, more expensive catalysts, such as Ru catalysts, are more active. On the other hand, thermal synthesis, electrochemical synthesis, photocatalytic ammonia synthesis, and electrolytic ammonia synthesis are technologies that have developed in recent years. However, these processes need to be fine-tuned to achieve more sustainable and effective practices.
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Blue Ammonia Market – The global blue ammonia market size is anticipated to reach approximately USD 16,499.72 million by 2034 and is projected to grow at a CAGR of 62.33% from 2024 to 2034. Green Ammonia Market – The green ammonia market size is expected to reach approximately USD 16,499.72 million. 70.19 billion by 2032, growing at a CAGR of 72.6% from 2023 to 2032.
Recent trends in the ammonia market
In October 2024, Yara International opened a new ammonia import terminal in Brunsbüttel, Germany, allowing the company to import up to 3 million tonnes of low-emission ammonia into Europe per year. In October 2024, Evonik and BASF signed an agreement to supply BASF’s ammonia BMBcert grade. , demonstrating our commitment to reducing carbon emissions. In September 2024, McDermott and BW Offshore partnered to enhance ocean blue ammonia production, promote low-carbon energy transitions and sustainable practices, and contribute to the global energy transition. In August 2024, Topsaw, Skovgaard Energy and Vestas commissioned a green ammonia plant. In Denmark. The factory will utilize renewable energy for efficient production and cost-effectiveness, contributing to net-zero emissions.
ammonia market companies
Achema ABACME GroupACRONAcron (Russia)AquaHydrex (USA)BASF SE (Germany)CF Industries Holdings Inc. (USA)China Petroleum & Chemical CorporationElectrochaea (Germany)Enter (Italy)ENGIE (France)EuroChem Group AG (Switzerland)EXTRON (Germany)Fertiglobe plcGreen Hydrogen Systems (Denmark)Greenfield Nitrogen LLCGroup DF (Ukraine)Haifa Chemicals Ltd.Haldor Topsoe (Denmark)Helm AGHHiringa Energy (New Zealand)Honeywell InternationalHydrogenics (Canada)Incitec Pivot LtdIndian Farmers Fertilizer Cooperative Limited (India)ITM Power (UK)Jiangsu Province Huachang Chemical Co. Ltd.Koch Fertilizer, LLC (USA)Linde GroupMaire Tecnimont SpAMAN, Energy Solutions (Germany)McPhy Energy (France)Mitsubishi Gas Chemical Co., Ltd.Nel Hydrogen (Norway)Nutrien Ltd. (Canada)OCI NV (Netherlands)Orica Limited (Australia)Ostchem HoldingPotash CorpPraxair, Inc.Qatar Fertilizer Company (Qatar)Queensland Nitrates Pty Ltd (Australia)SABIC (Saudi Arabia)Siemens Energy (Germany)Starfire Energy (US)Sumitomo Chemical The Dow Chemical CompanyThyssenKrupp AG (Germany)Togliatti Azotto ( Russia) Trammo IncUbe Industries Uniper (Germany) Uralchem JSC (Russia) Yara International (Norway)
Report target segment
By product form
By use
Fertilizer Refrigerant Pharmaceutical Textile Others
By region
North America Europe Germany UK France Italy Spain Sweden Denmark Norway Asia Pacific China Japan India South Korea Thailand Latin America Middle East and Africa (MEA) South Africa UAE Saudi Arabia Kuwait
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