Global Ammonia Market is garnering substantial traction, witnessing an augmenting demand. Massive consumption of Ammonia in the production of fertilizers is driving a large share of the market. Besides, rising demand from several burgeoning industries such as agrochemicals, fibers & plastics, pharmaceutical, and pulp & paper, foster the growth of the market. Moreover, massive investments in the agriculture sector worldwide is escalating the market growth to furthering heights.
According to Market Research Future (MRFR), Global Ammonia Market is poised to touch a valuation of USD 70.75 BN by the end of 2025, registering around 5.85% CAGR during the anticipated period (2019-2025). There is growing consumption of ammonia as a refrigerant in HFCs and HCFCs, which would support the market growth significantly.
Furthermore, the steadily growing demand for Ammonia as an alternative fuel in power generation & transportation is predicted to generate significant growth opportunities for the market players. On the flip side, stringent emission regulations against Ammonia refrigeration systems are estimated to hinder the growth of the market during the years to follow.
Ammonia Market – Segments
The analysis has been segmented into three major dynamics.
By Form: Liquid, Gas, Powder, and others.
By Application: Fertilizer, Chemicals, Refrigeration, Fibers & Plastics, Pharmaceutical, Pulp & Paper, and others.
By Regions: Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
Ammonia Market – Competitive Analysis
Highly Competitive, the Ammonia Market appears well-established due to the presence of many large players. To garner a larger competitive share in the market, these players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology launch. Manufacturers operating in the Ammonia market strive to deliver the best quality products developed with innovative technologies and best practices. The market demonstrates significant growth potential, which is expected to intensify the competition further, attracting many entrants to the market.
Players Leading the Ammonia Market include The prominent players in the Global Ammonia Market are Yara, CF Industries Holdings, Inc., Nutrien Ltd., OCI NV, Group DF, EuroChem Group AG, Acron Group, SABIC, Orica Limited, AB “Achema, Togliattyazot, Uralchem JSC, IFFCO, Koch Fertilizer, LLC, and Qatar Fertiliser Company, among others.
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September 03, 2019 — TerraVest Industries Inc. (Canada), a major investor in oil service companies, announced the acquisition of Iowa Steel Fabrication Business, known as Countryside Tank Co. and Majona Steel Corp. TerraVest is a leading global producer of propane, anhydrous ammonia, and natural gas liquids transport vehicles & storage vessels, energy processing equipment, fiberglass storage tanks, and home heating products.
Countryside Tank is primarily focused on manufacturing transportation equipment for the propane and anhydrous ammonia markets, as well as structural steel projects. The transaction enhances TerraVest’s propane and NH3 trailer offering in the US as well as in the Midwest. It would further play a part in TerraVest’s overall effort to maximize product and service capabilities to customers across North America.
Ammonia Market – Regional Analysis
The Asia Pacific region dominates the Global Ammonia market, mainly due to the expanding ammonia applications in the region. Besides, rising consumption of ammonia in various sectors such as fertilizer, chemicals, refrigeration, fibers & plastics, pharmaceutical, pulp & paper, and others impacts the regional market growth, positively. Attributing to the increasing demand for ammonia in the production of fertilizers across the major APAC countries, the regional market had accounted for a 53% share in 2017.
Simultaneously, the high production and exportation of agrochemical capacities in China, Indonesia, Thailand, and India, are expected to influence the market growth positively. The ever-increasing population, alongside the rapid industrialization in the region, provide a considerable impetus to the market growth, prompting higher demand for food. Besides, the cost-competitive logistics (land & labor-force) and raw material advantage in the region acts as a major driving force for the market growth, attracting foreign investors.
North America stands second in the Global Ammonia Market, due to the extensive use of chemical fertilizers and the rapidly growing agriculture sector in the region. Moreover, factors such as the constant expansion of the F&B sector attributes to the outstanding growth of the regional market. The US, backed by the 25 production plants of Ammonia and more than 15 ammonia manufacturers account for the key contributors to the regional market growth. The North American Ammonia Market is estimated to register an increase of USD 10,141.9 MN by 2025, growing at 5.37% CAGR over the review period.
European Ammonia Market is witnessing slow but steady growth. Stringent regulatory framework, alongside the joint proposal of ESPP for Fertilizer Regulation in EU that imposes strict recovery rules for struvites, ashes, biochars, and pyrolysis products, are posing challenges to the market growth.
However, the rising consumption of Ammonia in fertilizer, chemicals, refrigeration, fibers & plastics, and pulp & paper applications is expected to support the regional market growth. Also, increasing uptake of ammonia France, Belgium, Italy, and Germany for various purposes is projected to contribute to the regional market growth.
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