Ammonia Market Size, Share, Trends & Forecast | 2034

Ammonia Market Outlook

According to the report by Expert Market Research (EMR), the global ammonia market size reached a value of 194.80 MMT in 2024. Fueled by the increasing demand for fertilizers, growing industrial applications, and the rise in global agricultural production, the market is projected to grow at a compound annual growth rate (CAGR) of 1.90% between 2025 and 2034, reaching a value of 235.14 MMT by 2034.

Ammonia (NH₃) is a colorless, pungent gas that is one of the most widely produced chemicals globally. Its primary use is in fertilizers, where it is a key component for promoting plant growth, but it also plays a significant role in industries such as refrigeration, pharmaceuticals, and the production of synthetic fibers. The continued growth of the global population, rising food demand, and advancements in industrial applications are expected to drive the ammonia market’s expansion.

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Key Market Drivers

The ammonia market is primarily driven by the growing demand for nitrogen-based fertilizers, the increasing adoption of ammonia for industrial uses, and the expansion of agricultural activities worldwide. Fertilizers account for a substantial share of ammonia consumption, and with the rising need for food production to support a growing global population, ammonia demand in the agricultural sector is set to continue increasing.

Additionally, ammonia is used as a feedstock in the production of various chemicals, including urea, ammonium nitrate, and nitric acid, all of which are essential in various industrial processes. The continued advancement in ammonia-based technologies, such as ammonia-powered vehicles and ammonia as a potential carbon-free fuel, further drives the market’s potential.

Ammonia in Fertilizer Production

Ammonia’s most significant contribution is in the fertilizer industry, where it is used primarily to produce nitrogen-based fertilizers like urea, ammonium nitrate, and ammonium sulfate. As agricultural activities continue to grow worldwide, the demand for these fertilizers is also on the rise. The increasing need for high crop yields to meet the dietary needs of an expanding global population is a major driver of ammonia demand in the agriculture sector.

In particular, developing economies are experiencing significant growth in their agricultural sectors. Countries like India, China, Brazil, and other emerging markets are ramping up their fertilizer usage, driving ammonia consumption. Fertilizer demand is also rising due to the increasing need for precision farming and sustainable agricultural practices. The use of fertilizers helps optimize crop production, which is essential in addressing food security concerns in many parts of the world.

Industrial and Environmental Applications

Apart from its role in agriculture, ammonia is also widely used in various industrial applications. One of the key uses of ammonia in the industrial sector is in refrigeration systems, where it serves as a highly efficient refrigerant. Ammonia refrigeration systems are used in food processing, cold storage, and even in the production of air conditioning systems. The need for efficient and sustainable refrigeration systems is increasing, particularly with the growth of the cold chain logistics industry, which further boosts ammonia demand.

Ammonia is also used as a raw material in the production of chemicals such as nitric acid, which is used in the manufacture of explosives and in various chemical syntheses. Additionally, ammonia plays a crucial role in producing synthetic fibers like nylon, and its use in the textile industry supports its continued demand.

Furthermore, ammonia is becoming a key player in efforts to reduce industrial carbon footprints. Ammonia is being explored as a potential carbon-free fuel in power generation, with its ability to burn cleanly without producing carbon dioxide. As countries and industries strive for sustainability, ammonia’s role in reducing greenhouse gas emissions is expected to play a significant part in the transition to cleaner energy sources, further propelling market growth.

Technological Advancements

Advancements in ammonia production technologies are also contributing to the growth of the market. The traditional method of producing ammonia, known as the Haber-Bosch process, requires high energy consumption and results in significant carbon emissions. However, recent innovations, such as green ammonia production using renewable energy sources, are transforming the industry. Green ammonia is produced by using hydrogen derived from renewable energy sources, such as wind and solar power, which significantly reduces the carbon footprint of ammonia production.

The development of carbon capture and storage (CCS) technologies also provides an opportunity for ammonia manufacturers to reduce their environmental impact while maintaining high production levels. As sustainability becomes a growing concern for industries, these technological advancements are expected to drive the demand for ammonia in the coming years.

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Ammonia Market Segmentation

The market can be divided based on the type, end use, and region.

Some of the major players explored in the report by Expert Market Research are as follows:

• Yara International ASA
• CSBP Limited
• CF Industries Holdings, Inc.
• Koch Fertilizer, LLC
• GROUP DF
• CASCALE SA
• OCI N.V.
• Acron Group
• BASF SE
• SABIC
• Indian Farmers Fertiliser Cooperative (IFFCO)
• Nutrien Ltd
• Others

Challenges in the Market

North America is the largest market for ATVs and UTVs, accounting for a significant share of global sales. The United States, in particular, dominates the market, with a large number of recreational users, extensive off-roading trails, and a growing demand for utility vehicles in agriculture. The region’s strong outdoor culture, coupled with favorable terrain for off-road activities, contributes to the widespread popularity of these vehicles. Furthermore, ATV and UTV racing events and enthusiast clubs are thriving, providing a boost to the market.

Europe is also a key market for ATVs and UTVs, with strong demand for both recreational and utility vehicles. Countries like France, Spain, and Italy are popular destinations for off-road enthusiasts, and the rising interest in ATV/UTV tourism is driving market growth. Additionally, the increasing demand for UTVs in agriculture and forestry applications in countries like Germany and the UK is contributing to the market expansion.

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