The Global Ammonia Market is projected to grow and cross $ 68 billion by 2025.
Wide use of ammonia in fertilizer industry is one of the key factors which is anticipated to drive the market during the forecast years.
The growing demand for nitrogen fertilizers and upsurge in the utilization of ammonia to produce explosives is positively influencing the market growth.
The Global Ammonia Market is segmented based on grade, manufacturing process, application, and region.
Based on application, the market can be categorized into Fertilizers, Chemicals, Pharmaceuticals, Electronics, Refrigeration, Household, Food, and Others.
The Fertilizers segment dominates the global ammonia market with the segment’s share standing at more than 70% in 2019.
Ammonia is widely used in the manufacturing of various liquid fertilizer solutions consisting of aqua ammonia, ammonium nitrate and urea.
In terms of grade, the market is fragmented into Anhydrous and Aqueous.
Anhydrous segment is anticipated to continue its dominance in the market over the next five years on account of its easy availability in gaseous grade and lower cost compared to aqueous grade in end-use applications.
Region wise, APAC is likely to continue its dominance in the market, attributed to high consumption in agrochemicals and explosives.
China and India, being the major consumers in the region, account for a significant chunk of the global ammonia demand. China is also the largest producer of ammonia, globally.
Sudden outbreak of COVID-19 pandemic has resulted in an unparalleled slump in manufacturing activities across the globe.
Spread of the pandemic has brought down demand for ammonia. Asia-Pacific ammonia market is anticipated to get highly affected by the pandemic.
Disruptions in trade flows and logistics due to lockdown measures taken around the globe to contain the spread of coronavirus have negatively impacted the fertilizer industry, which is affecting the Global Ammonia Market.
However, with increasing inclination towards fighting the pandemic and opening up economies, coupled with surging the demand from food and chemical industry, the demand for ammonia is forecast to grow over the next five years.
Major players operating in the Global Ammonia Market include CF Industries Holdings, Yara International, Nutrien Fertilizer, OCI NV, Ostchem Holdings, Ma’aden Phosphate, Mosaic Crop Nutrition, Eurochem Group AG, among others.
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