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The global ammonia market is anticipated to witness substantial growth during the forecast period from 2024 to 2031. As of 2023, the market has exhibited consistent expansion, and with the increasing adoption of strategic measures

by major industry players, this growth is expected to accelerate over the projected horizon. Ammonia, a colorless and nonflammable gas with a distinct pungent odor, is a compound consisting of nitrogen and hydrogen (NH3). It is typically transported as a liquefied gas under its vapor pressure of 114 psig. The predominant application of ammonia lies in soil fertilization, where it is employed in the form of salts, nitrates, and urea.

Market Overview and Insights: Global Ammonia Industry

As a result of the COVID-19 pandemic, the global ammonia market is estimated to have reached a value of USD 75.39 billion in 2023. It is projected to reach an adjusted value of USD 80.5 billion by 2031, with a compound annual growth rate (CAGR) of 1.1% during the forecast period. Taking into full consideration the economic impacts of the pandemic, the liquid ammonia segment, which accounted for a significant percentage of the global ammonia market in 2021, is expected to reach a valuation of USD million by 2031, growing at a revised CAGR over the post-pandemic period. Meanwhile, the fertilizer segment is forecasted to experience a modified CAGR throughout this period.

Key players in the global ammonia market include Yara, CF Industries, Shandong Everlast AC Chemical, Hangzhou Hengmao Chemical, and DOW, among others. The top five manufacturers collectively account for over 20% of the global market share.

China holds the largest share of the market, accounting for approximately 35%, followed by North America and Europe, each contributing around 35% to the overall market.

From a product perspective, Electronic Grade Aqua Ammonia represents the largest segment, accounting for over 40% of the market share. In terms of application, the Agriculture Industry stands as the leading sector, followed by the Rubber Industry and others.

From the production perspective, this report examines ammonia capacity, production, growth rate, and market share by manufacturers and regions (both regional and country levels) from 2017 to 2023, with forecasts extending to 2031.

On the sales side, this report concentrates on ammonia sales by region (both regional and country levels), by company, by type, and by application, covering the period from 2017 to 2023 and providing forecasts through 2031.

Scope and Segmentation of the Global Ammonia Market

The ammonia market is divided into segments based on Type and Application. Industry players, stakeholders, and other participants can leverage this report as a valuable resource to gain a competitive advantage. The segmental analysis provides insights into production capacity, revenue, and forecasts by Type and Application for the period from 2017 to 2031.

What factors are driving the growth of the ammonia market?

The increasing demand for the following applications globally has directly contributed to the growth of the ammonia market.

• Fertilizer

• Refrigerant

• Polymer Synthesis

• Others

What types of ammonia are available in the market?

Based on product types, the market is categorized into the following types, which held the largest share of the ammonia market in 2024.

• Liquid Ammonia

• Gas Ammonia