Summary

The ammonia market size is projected to grow from USD 79.47 billion in 2024 and is projected to reach USD 91.95 billion by 2029, at a CAGR of 3.0%. With the ongoing increase in the global population, the demand for food production is increasing, resulting in the agricultural sector relying increasingly on nitrogen-based fertilizers, with ammonia being an essential component. Ammonia plays a crucial role in the production of fertilizers such as urea which contributes to increased crop yields and the maintenance of soil fertility. Countries like India and China, which have large agricultural sectors, are boosting their use of ammonia-based fertilizers to secure food for their expanding populations. The regular demand from the agricultural sector plays a crucial role in the ongoing growth of the ammonia market. The potential of ammonia in the clean energy transition is a significant driver of market growth. “Anhydrous is projected to be the largest segment by type in ammonia market” Sustainability is increasingly at the forefront, efficient usage methods of anhydrous ammonia enhance its appeal to consumers. When used effectively, it reduces nitrogen loss and reduces the environmental impact in comparison to other types of nitrogen fertilizers. This boosts long-term environmental sustainability, especially in areas carrying out stricter regulations on agricultural emissions. Anhydrous ammonia, known for its high efficiency, cost-effectiveness, and industrial versatility, is anticipated to stay as the largest segment in the ammonia market. “Direct is projected to be the largest segment by sales channel in ammonia market” Direct sales enable manufacturers to grow greater ties with end-users, providing constant supply and customized products created to meet specific requirements. This approach additionally reduces intermediaries, lowering expenses and enhancing efficiency for both suppliers and buyers. The increasing demand for bulk ammonia, especially within the agriculture and chemical sectors, places direct sales as a dependable and economical channel, establishing it as the leading channel for sales in the market. “Refrigeration is the third largest segment by end-use industry in ammonia market during forecast region.” The growth of the cold chain logistics industry increases the demand for ammonia in refrigeration. The growth of global trade in perishable goods has led to an increased demand for refrigeration systems to maintain product quality during transportation. Ammonia is good in low-temperature applications, making it the ideal choice for refrigerated warehouses and transport vehicles. Major logistics companies are implementing ammonia refrigeration systems to enhance their cold chain operations, ensuring that food and pharmaceuticals are maintained at optimal temperatures during transit. “Middle East & Africa accounts for the third-largest share in ammonia market by region” Countries in the Middle East, including Saudi Arabia, the UAE, and Qatar, are investing in chemical industries to reduce their dependence on oil. SABIC (Saudi Basic Industries Corporation) and Qatar Fertiliser Company (QAFCO) are key players influencing chemical and fertilizer production throughout the Middle East and Africa. SABIC, a leading player in the global petrochemical industry is a crucial producer of ammonia and plays an important part in Saudi Arabia's Vision 2030. SABIC's ammonia plays an important role in the production of fertilizers. The company's emphasis on increasing its ammonia production capacity and establishing large-scale ammonia plants addresses both domestic needs and export opportunities, thereby increasing the overall ammonia market in the Middle East and Africa region. By Company Type: Tier 1: 25%, Tier 2: 42%, and Tier 3: 33% By Designation: C-level Executives: 20%, Directors: 30%, and Others: 50% By Region: North America: 20%, Europe: 10%, Asia Pacific: 40%, South America: 10%, Middle East & Africa 20% Notes: Others include sales, marketing, and product managers. Tier 1: >USD 1 Billion; Tier 2: USD 500 million–1 Billion; and Tier 3:

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Table of Contents

1 INTRODUCTION 21
1.1 STUDY OBJECTIVES 21
1.2 MARKET DEFINITION 21
1.3 STUDY SCOPE 22
1.3.1 AMMONIA MARKET SEGMENTATION 22
1.3.2 INCLUSIONS & EXCLUSIONS 23
1.3.3 YEARS CONSIDERED 23
1.3.4 CURRENCY CONSIDERED 24
1.3.5 UNITS CONSIDERED 24
1.4 LIMITATIONS 24
1.5 STAKEHOLDERS 24
1.6 SUMMARY OF CHANGES 25
2 RESEARCH METHODOLOGY 26
2.1 RESEARCH DATA 26
2.1.1 SECONDARY DATA 27
2.1.1.1 Key data from secondary sources 27
2.1.2 PRIMARY DATA 27
2.1.2.1 Key primary participants 27
2.1.2.2 Key data from primary sources 28
2.1.2.3 Breakdown of interviews with experts 28
2.1.2.4 Key industry insights 29
2.2 MARKET SIZE ESTIMATION 30
2.2.1 TOP-DOWN APPROACH 30
2.2.2 BOTTOM-UP APPROACH 31
2.3 BASE NUMBER CALCULATION 31
2.3.1 DEMAND-SIDE APPROACH 31
2.3.2 SUPPLY-SIDE APPROACH 32
2.4 GROWTH FORECAST 32
2.4.1 SUPPLY SIDE 32
2.4.2 DEMAND SIDE 32
2.5 DATA TRIANGULATION 33
2.6 RESEARCH ASSUMPTIONS 34
2.7 FACTOR ANALYSIS 34
2.8 RESEARCH LIMITATIONS 35
2.9 RISK ASSESSMENT 35
3 EXECUTIVE SUMMARY 36
4 PREMIUM INSIGHTS 40
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AMMONIA MARKET 40
4.2 AMMONIA MARKET GROWTH, BY TYPE 40
4.3 AMMONIA MARKET GROWTH, BY SALES CHANNEL 41
4.4 AMMONIA MARKET, BY END-USE INDUSTRY 41
4.5 ASIA PACIFIC: AMMONIA MARKET, BY TYPE & COUNTRY 42
4.6 AMMONIA MARKET: MAJOR COUNTRIES 42
5 MARKET OVERVIEW 43
5.1 INTRODUCTION 43
5.2 MARKET DYNAMICS 43
5.2.1 DRIVERS 44
5.2.1.1 Rising agricultural demand for ammonia 44
5.2.1.2 Rising demand for grain and oilseed crops and increasing population 45
5.2.1.3 Growing demand for refrigeration 46
5.2.2 RESTRAINTS 47
5.2.2.1 Fluctuations in pricing 47
5.2.2.2 High production costs 48
5.2.3 OPPORTUNITIES 48
5.2.3.1 Growing emphasis on low carbon solutions 48
5.2.3.2 Increasing demand from emerging markets 49
5.2.4 CHALLENGES 50
5.2.4.1 Alternative technologies 50
5.2.4.2 Regulatory compliance 50
6 INDUSTRY TRENDS 51
6.1 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 51
6.2 PRICING ANALYSIS 52
6.2.1 AVERAGE SELLING PRICE OF KEY PLAYERS, BY TYPE 52
6.2.2 AVERAGE SELLING PRICE TREND OF AMMONIA, BY REGION, 2022–2029 53
6.3 PORTER’S FIVE FORCES ANALYSIS 54
6.3.1 THREAT OF NEW ENTRANTS 55
6.3.2 THREAT OF SUBSTITUTES 55
6.3.3 BARGAINING POWER OF SUPPLIERS 55
6.3.4 BARGAINING POWER OF BUYERS 55
6.3.5 INTENSITY OF COMPETITIVE RIVALRY 55
6.4 KEY STAKEHOLDERS & BUYING CRITERIA 56
6.4.1 KEY STAKEHOLDERS IN BUYING PROCESS 56
6.4.2 BUYING CRITERIA 57
6.5 VALUE CHAIN ANALYSIS 58
6.6 ECOSYSTEM ANALYSIS 59
 
6.7 TRADE ANALYSIS 60
6.7.1 EXPORT SCENARIO (HS CODE 2814) 60
6.7.2 IMPORT SCENARIO (HS CODE 2814) 61
6.8 TECHNOLOGY ANALYSIS 61
6.8.1 KEY TECHNOLOGIES 62
6.8.1.1 Haber-Bosch Process 62
6.8.1.2 Electrochemical Nitrogen Reduction 62
6.8.2 COMPLEMENTARY TECHNOLOGIES 62
6.8.2.1 Renewable Energy Integration 62
6.8.2.2 Advanced Heat Recovery Systems 62
6.9 IMPACT OF GEN AI ON AMMONIA MARKET 63
6.9.1 INTEGRATING AI IN AMMONIA SECTOR 63
6.9.2 BEST PRACTICES TO LEVERAGE AI FOR AMMONIA MARKET 63
6.9.3 USE CASES OF AI IN AMMONIA MARKET 64
6.10 REGULATORY LANDSCAPE 65
6.10.1 REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 65
6.11 CASE STUDY ANALYSIS 67
6.11.1 GREEN AMMONIA IMPACT ASSESSMENT CASE STUDY 67
6.11.2 AMMONIA WASTEWATER TREATMENT 68
6.12 PATENT ANALYSIS 69
6.12.1 METHODOLOGY 69
6.12.2 PATENT ANALYSIS 69
6.13 KEY CONFERENCES & EVENTS, 2024–2025 72
6.14 MACROECONOMIC ANALYSIS 72
6.14.1 INTRODUCTION 72
6.14.2 GDP 72
6.15 INVESTMENT & FUNDING SCENARIO 73
7 AMMONIA MARKET, BY TYPE 74
7.1 INTRODUCTION 75
7.2 ANHYDROUS 76
7.2.1 GROWING SIGNIFICANCE IN FERTILIZER PRODUCTION 76
7.3 AQUEOUS 76
7.3.1 RISING DEMAND FOR EFFICIENT WATER TREATMENT SOLUTIONS 76
8 AMMONIA MARKET, BY SALES CHANNEL 77
8.1 INTRODUCTION 78
8.2 DIRECT 79
8.2.1 STRONG DEMAND FROM LARGE-SCALE BUYERS 79
8.3 INDIRECT 79
8.3.1 GROWTH OF E-COMMERCE SECTOR 79
9 AMMONIA MARKET, BY END-USE INDUSTRY 80
9.1 INTRODUCTION 81
9.2 AGRICULTURE 82
9.2.1 CRUCIAL FOR SUSTAINING AGRICULTURAL PRODUCTIVITY 82
9.3 TEXTILE 83
9.3.1 GROWING DEMAND FOR HIGH-QUALITY TEXTILES 83
9.4 REFRIGERATION 83
9.4.1 RAPID EXPANSION OF COLD CHAIN LOGISTICS SECTOR 83
9.5 MINING 84
9.5.1 GROWING USE AS LEACHING AGENT IN EXTRACTING AND
PROCESSING METALS 84
9.6 PHARMACEUTICAL 85
9.6.1 RISING AGING POPULATION AND CHRONIC DISEASES 85
9.7 OTHER END-USE INDUSTRIES 85
10 AMMONIA MARKET, BY REGION 86
10.1 INTRODUCTION 87
10.2 ASIA PACIFIC 88
10.2.1 CHINA 91
10.2.1.1 High use of ammonia for clean energy transition 91
10.2.2 INDIA 93
10.2.2.1 Expansion of food processing industry 93
10.2.3 JAPAN 95
10.2.3.1 Ambitious carbon neutrality strategy for 2050 95
10.2.4 INDONESIA 97
10.2.4.1 Growing agricultural sector 97
10.2.5 RESF OF ASIA PACIFIC 99
10.3 EUROPE 101
10.3.1 GERMANY 105
10.3.1.1 Increasing imports of green ammonia and agricultural demand 105
10.3.2 FRANCE 106
10.3.2.1 Strong export performance to expand market 106
10.3.3 UK 108
10.3.3.1 Green initiatives driving demand for ammonia 108
10.3.4 SPAIN 110
10.3.4.1 Plans to generate substantial quantities of green ammonia by 2030 110
10.3.5 ITALY 112
10.3.5.1 Strong economy and agricultural leadership 112
10.3.6 RUSSIA 113
10.3.6.1 Growing domestic demand and export opportunities 113
10.3.7 REST OF EUROPE 115
 
10.4 NORTH AMERICA 117
10.4.1 US 119
10.4.1.1 Rising population and global textile demand 119
10.4.2 CANADA 121
10.4.2.1 Leveraging clean energy and incentives to drive market 121
10.4.3 MEXICO 122
10.4.3.1 Strategic role in global trade and investment in ammonia industry 122
10.5 MIDDLE EAST & AFRICA 124
10.5.1 GCC COUNTRIES 127
10.5.1.1 SAUDI ARABIA 128
10.5.1.1.1 Saudi Arabia’s vision 2030 promoting sustainable energy solutions 128
10.5.1.2 UAE 130
10.5.1.2.1 Commitment to a carbon-free future to drive market 130
10.5.1.3 Rest of GCC Countries 131
10.5.2 IRAN 133
10.5.2.1 Increasing agricultural productivity 133
10.5.3 REST OF MIDDLE EAST & AFRICA 135
10.6 SOUTH AMERICA 136
10.6.1 BRAZIL 138
10.6.1.1 Initiatives like Project Iracema to produce renewable ammonia 138
10.6.2 ARGENTINA 139
10.6.2.1 Establishment of regulatory framework to drive market 139
10.6.3 REST OF SOUTH AMERICA 141
11 COMPETITIVE LANDSCAPE 143
11.1 OVERVIEW 143
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 143
11.3 MARKET SHARE ANALYSIS 145
11.4 REVENUE ANALYSIS 147
11.5 COMPANY VALUATION & FINANCIAL METRICS 147
11.6 COMPANY VALUATION 148
11.7 FINANCIAL MATRIX 148
11.8 BRAND/PRODUCT COMPARISON 149
11.9 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 149
11.9.1 STARS 149
11.9.2 EMERGING LEADERS 149
11.9.3 PERVASIVE PLAYERS 150
11.9.4 PARTICIPANTS 150
11.9.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 151
11.9.5.1 Company footprint 151
11.9.5.2 Type footprint 152
11.9.5.3 Sales channel footprint 152
11.9.5.4 End-use industry footprint 153
11.9.5.5 Region footprint 154
11.10 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 154
11.10.1 PROGRESSIVE COMPANIES 154
11.10.2 RESPONSIVE COMPANIES 154
11.10.3 DYNAMIC COMPANIES 155
11.10.4 STARTING BLOCKS 155
11.10.5 COMPETITIVE BENCHMARKING 156
11.10.5.1 Detailed list of key startups/SMEs 156
11.10.5.2 Competitive benchmarking of key startups/SMEs 157
11.11 COMPETITIVE SCENARIO 158
11.11.1 PRODUCT LAUNCHES 158
11.11.2 DEALS 158
11.11.3 EXPANSIONS 167
11.11.4 OTHER DEVELOPMENTS 169
12 COMPANY PROFILES 170
12.1 KEY PLAYERS 170
12.1.1 CF INDUSTRIES HOLDINGS, INC. 170
12.1.1.1 Business overview 170
12.1.1.2 Products/Solutions/Services offered 171
12.1.1.3 Recent developments 172
12.1.1.3.1 Deals 172
12.1.1.3.2 Other developments 174
12.1.1.4 MnM view 174
12.1.1.4.1 Key strengths 174
12.1.1.4.2 Strategic choices 175
12.1.1.4.3 Weaknesses and competitive threats 175
12.1.2 YARA INTERNATIONAL ASA 176
12.1.2.1 Business overview 176
12.1.2.2 Products/Solutions/Services offered 177
12.1.2.3 Recent developments 178
12.1.2.3.1 Deals 178
12.1.2.3.2 Expansions 181
12.1.2.4 MnM view 181
12.1.2.4.1 Key strengths 181
12.1.2.4.2 Strategic choices 181
12.1.2.4.3 Weaknesses & competitive threats 181
 
12.1.3 SAUDI BASIC INDUSTRIES CORPORATION 182
12.1.3.1 Business overview 182
12.1.3.2 Products/Solutions/Services offered 183
12.1.3.3 Recent developments 184
12.1.3.3.1 Deals 184
12.1.3.4 MnM view 185
12.1.3.4.1 Key strengths 185
12.1.3.4.2 Strategic choices 185
12.1.3.4.3 Weaknesses & competitive threats 185
12.1.4 OCI GLOBAL 186
12.1.4.1 Business overview 186
12.1.4.2 Products/Solutions/Services offered 187
12.1.4.3 Recent developments 188
12.1.4.3.1 Deals 188
12.1.4.3.2 Expansions 190
12.1.4.4 MnM view 191
12.1.4.4.1 Key strengths 191
12.1.4.4.2 Strategic choices 191
12.1.4.4.3 Weaknesses and competitive threats 191
12.1.5 BASF SE 192
12.1.5.1 Business overview 192
12.1.5.2 Products/Solutions/Services offered 194
12.1.5.3 Recent developments 194
12.1.5.3.1 Product launches 194
12.1.5.3.2 Deals 195
12.1.5.3.3 Other developments 195
12.1.5.4 MnM view 196
12.1.5.4.1 Key strengths 196
12.1.5.4.2 Strategic choices 196
12.1.5.4.3 Weaknesses and competitive threats 196
12.1.6 NUTRIEN 197
12.1.6.1 Business overview 197
12.1.6.2 Products/Solutions/Services offered 199
12.1.6.3 Recent developments 199
12.1.6.3.1 Deals 199
12.1.6.3.2 Expansions 200
12.1.6.4 MnM view 200
 
12.1.7 QATAR FERTILISER COMPANY 201
12.1.7.1 Business overview 201
12.1.7.2 Products/Solutions/Services offered 201
12.1.7.3 Recent developments 202
12.1.7.3.1 Deals 202
12.1.7.4 MnM view 202
12.1.8 KOCH FERTILIZER, LLC 203
12.1.8.1 Business overview 203
12.1.8.2 Products/Solutions/Services offered 203
12.1.8.3 Recent developments 204
12.1.8.3.1 Expansions 204
12.1.8.4 MnM view 204
12.1.9 EUROCHEM GROUP 205
12.1.9.1 Business overview 205
12.1.9.2 Products/Solutions/Services offered 205
12.1.9.3 Recent developments 205
12.1.9.3.1 Expansions 206
12.1.9.4 MnM view 206
12.1.10 CSBP LIMITED 207
12.1.10.1 Business overview 207
12.1.10.2 Products/Solutions/Services offered 207
12.1.10.3 MnM view 208
12.2 OTHER PLAYERS 209
12.2.1 GROUP DF 209
12.2.2 GUJARAT STATE FERTILIZERS & CHEMICALS LIMITED 210
12.2.3 JSC TOGLIATTIAZOT 210
12.2.4 PT PUPUK SRIWIDJAJA PALEMBANG 211
12.2.5 GULF COAST AMMONIA LLC 211
12.2.6 DEEPAK FERTILISERS AND PETROCHEMICALS CORPORATION LIMITED 212
12.2.7 JAYSONS CHEMICAL INDUSTRIES 212
12.2.8 MYSORE AMMONIA PVT. LTD. 213
12.2.9 STEELMAN GASES PVT. LTD. 214
12.2.10 SUMITOMO CHEMICAL CO., LTD. 214
12.2.11 SURAT AMMONIA AND CHEMICAL COMPANY 215
12.2.12 J.R. SIMPLOT COMPANY 215
12.2.13 ANMOL CHEMICALS PRIVATE LIMITED 216
12.2.14 UBE CORPORATION 216
12.2.15 GRUPA AZOTY S.A. 217
 
13 ADJACENT & RELATED MARKET 218
13.1 INTRODUCTION 218
13.2 LIMITATIONS 218
13.2.1 REFRIGERANTS MARKET 218
13.2.1.1 Market definition 218
13.2.1.2 Refrigerants market, by type 218
13.2.1.3 Refrigerants market, by application 220
13.2.1.4 Refrigerants market, by region 223
14 APPENDIX 225
14.1 DISCUSSION GUIDE 225
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 228
14.3 CUSTOMIZATION OPTIONS 230
14.4 RELATED REPORTS 230
14.5 AUTHOR DETAILS 231