Indian Ammonia Market to Reach US$ 5,928.7 Million by 2032, Propelled by Considerable Rise in Crop Production Volumes

March 20, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Indian Ammonia Market Report by Physical Form (Anhydrous Ammonia, Aqueous Ammonia), End-Use (Urea, Ammonium Phosphate Fertilizers, Industrial, and Others), and States 2024-2032”, the Indian ammonia market size reached US$ 5,469.4 Million in 2023.  Ammonia (NH3) is an inorganic stable binary hydride compound that serves as a starting material for the production of a wide range of commercial nitrogen compounds. It is characterized by a distinctive pungent odor, high water solubility, and colorless form. Ammonia is a part of the nitrogen cycle and is produced in soil by bacterial processes and is thus naturally sourced from plants and animals. In commercial manufacturing, it is produced in a Haber-Bosch reaction, which involves the direct reaction of elemental nitrogen and hydrogen under high temperatures, catalysts, and elevated temperatures. Ammonia liquid is created by compressing gaseous ammonia into a liquid form, which dissolves in water to form ammonium hydroxide. Ammonia is most commonly used in the manufacturing of ammonium nitrate fertilizers, which discharge nitrogen into the soil to promote growth in farm crops and plants.

Indian Ammonia Market Trends:

The market in India is majorly driven by the rising fertilizer consumption in the agricultural sector across the country. This can be attributed to the rapid expansion in the crop production due to the growing population. In line with this, rapid urbanization resulting in a significant reduction in cultivation lands is propelling the demand for higher volume of crop produce, which, in turn, is resulting in a higher uptake for ammonia-based fertilizers. Moreover, continual product innovations, such as the advent of nitrogen-rich, ammonia-based natural fertilizers and agrochemicals to enhance produce quality, is also creating lucrative growth opportunities in the market. Besides this, an enhanced focus on sustainable development resulting in the manufacturing of green ammonia is positively impacting the market. Additionally, the rapid utilization of ammonia in the formulation of cleaning agents, such as detergents and wash liquids, is providing an impetus to the market. The market is further fueled by the growing adoption of ammonia as a refrigerant in heating, ventilation and air conditioning (HVAC) appliances. Apart from this, the escalating demand for ammonia and ammonia byproducts in the pharmaceuticals industry is further creating a positive outlook for the market. Some of the other factors contributing to the market include rapid industrialization, rise in government investments in the agricultural sector, increasing industrial applications of steam methane, and extensive research and development (R&D) activities conducted by the key players. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 5,928.7 Million by 2032.

Market Summary:

  • Based on the physical form, the market has been segmented into anhydrous ammonia and aqueous ammonia.
  • On the basis of the end use, the market has been divided into urea, ammonium phosphate fertilizers, industrial, and others.
  • On the geographical front, the market has been segregated into Gujarat, Maharashtra, Rajasthan, and others.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Chambal Fertilizers and Chemicals Ltd., Gujarat Narmada Valley Fertilisers and Chemicals (GNFC), Indian Farmers Fertiliser Cooperative Limited (IFFCO), Krishak Bharati Co-Operative Limited (KRIBHCO), Nagarjuna Fertilizers and Chemicals Limited (NFCL), Rashtriya Chemicals and Fertilizers Ltd (RCFL), and Southern Petrochemicals Industries Limited (SPIC).

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million, Million Tons
Segment Coverage Physical Form, End-Use, State
States Covered Gujarat, Maharashtra, Rajasthan, Others
Companies Covered Chambal Fertilizers and Chemicals Ltd., GNFC (Gujarat Narmada Valley Fertilizers and Chemicals), IFFCO (Indian Farmers Fertilizer Cooperative Limited), KRIBHCO (Krishak Bharati Cooperative Limited), NFCL (Nagarjuna Fertilizers and Chemicals Limited), RCFL (Rashtriya Chemicals and Fertilizers Ltd) and Southern Petrochemicals Industries Limited (SPIC)
Customization Scope 10% Free Customization
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Indian Ammonia Market to Reach US$ 5,928.7 Million by 2032, Propelled by Considerable Rise in Crop Production Volumes
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