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The global ammonia market was valued at US$ 71.34 Billion in 2021.
We expect the global ammonia market to exhibit a CAGR of 5.60% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous end-use industries for ammonia.
The rising demand for efficient and nitrogen-rich ammonia-based agrochemicals to ensure optimal food production, along with the ongoing development of green ammonia through sustainable technologies, is primarily driving the global ammonia market.
Based on the physical form, the global ammonia market has been segmented into liquid, powder, and gas. Currently, liquid holds the majority of the total market share.
Based on the end use industry, the global ammonia market can be divided into agrochemical, industrial chemical, mining, pharmaceutical, textiles, and others. Among these, the agrochemical industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global ammonia market include Achema AB, BASF SE, CF Industries Holdings Inc., Koch Industries Inc., Linde plc, Nutrien Ltd, OCI N.V., Orica Limited, PJSC Togliattiazot, Saudi Basic Industries Corporation, and Yara International ASA.
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