Dublin, Nov. 08, 2024 (GLOBE NEWSWIRE) — The “Ammonia Market by Type (Anhydrous, Aqueous), Sales Channel (Direct and Indirect), End-use Industry (Agriculture, Textile, Refrigeration, Mining, and Pharmaceutical), and Region – Global Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.
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%.
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.
Research Coverage
This research report categorizes the ammonia market by type, (anhydrous, aqueous), by sales channel, (direct, indirect), by end-use industry (agriculture, textile, refrigeration, mining, pharmaceutical, and other end-use, industries), and by region (Asia Pacific, North America, Europe, South America, and Middle East & Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the ammonia market.
A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product launches, acquisitions, and recent developments associated with the ammonia market. Competitive analysis of upcoming startups in the ammonia market ecosystem is covered in this report.
The report provides insights on the following:
- Analysis of key drivers (Rising agricultural demand for ammonia), restraints (Fluctuations in pricing), opportunities (Growing emphasis on low carbon solutions) and challenges (Alternative technologies).
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the ammonia market
- Market Development: Comprehensive information about profitable markets – the report analyses the ammonia market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the ammonia market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in the ammonia market including CF Industries Holdings, Inc. (US), Yara International ASA (Norway), OCI Global (Netherlands), BASF SE (Germany), and Nutrien (Canada)and among others in the ammonia market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 232 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $79.47 Billion |
| Forecasted Market Value (USD) by 2029 | $91.95 Billion |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | Global |
Key Topics Covered:
Premium Insights
- Attractive Opportunities for Players in Ammonia Market
- Ammonia Market Growth, by Type
- Ammonia Market Growth, by Sales Channel
- Ammonia Market, by End-use Industry
- Asia-Pacific: Ammonia Market, by Type & Country
- Ammonia Market: Major Countries
Market Dynamics
Drivers
- Rising Agricultural Demand for Ammonia
- Rising Demand for Grain and Oilseed Crops and Increasing Population
- Growing Demand for Refrigeration
Restraints
- Fluctuations in Pricing
- High Production Costs
Opportunities
- Growing Emphasis on Low Carbon Solutions
- Increasing Demand from Emerging Markets
Challenges
- Alternative Technologies
- Regulatory Compliance
Case Study Analysis
- Green Ammonia Impact Assessment Case Study
- Ammonia Wastewater Treatment
Ammonia Market, by Type
- Anhydrous – Growing Significance in Fertilizer Production
- Aqueous – Rising Demand for Efficient Water Treatment Solutions
Ammonia Market, by Sales Channel
- Direct – Strong Demand from Large-Scale Buyers
- Indirect -Growth of E-Commerce Sector
Ammonia Market, by End-use Industry
- Agriculture – Crucial for Sustaining Agricultural Productivity
- Textile -Growing Demand for High-Quality Textiles
- Refrigeration – Rapid Expansion of Cold Chain Logistics Sector
- Mining – Growing Use as Leaching Agent in Extracting and Processing Metals
- Pharmaceutical – Rising Aging Population and Chronic Diseases
Company Profiles
Key Players
- CF Industries Holdings, Inc.
- Yara International Asa
- Saudi Basic Industries Corporation
- OCI Global
- BASF
- Nutrien
- Qatar Fertiliser Company
- Koch Fertilizer
- Eurochem Group
- CSBP
Other Players
- Group DF
- Gujarat State Fertilizers & Chemicals Limited
- JSC Togliattiazot
- Pt Pupuk Sriwidjaja Palembang
- Gulf Coast Ammonia
- Deepak Fertilisers and Petrochemicals Corporation Limited
- Jaysons Chemical Industries
- Mysore Ammonia Pvt. Ltd.
- Steelman Gases Pvt. Ltd.
- Sumitomo Chemical Co. Ltd.
- Surat Ammonia and Chemical Company
- J.R. Simplot Company
- Anmol Chemicals Private Limited
- Ube Corporation
- Grupa Azoty
For more information about this report visit https://www.researchandmarkets.com/r/bbgn8t
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