The Global Ammonia Market Growth is Propelled by Growing Fertilizer Demand
The global ammonia market is estimated to be valued at US$ 91.42 billion in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period of 2024-2031. Ammonia has wide applications in fertilizer production, wastewater treatment plants, and refrigeration systems owing to its physical and chemical properties. It is majorly produced through the Haber-Bosch process and serves as a key building block for the production of a variety of nitrogen-containing compounds. Rising global fertilizer consumption to meet the increasing food demand is one of the primary factors driving the demand for ammonia. Key Takeaways Key players operating in the ammonia market are Yara International ASA, BASF SE, CF Industries Holdings, Inc., Nutrien Ltd., Potash Corporation of Saskatchewan Inc., Dangyang Huaqiang Chemical Co., Ltd., Shanxi Jinfeng Coal Chemical Co Ltd., GTS Chemical Holdings plc.,Togliattiazot, OCI Nitrogen B.V., Agrium Inc., Sabic, and Koch Fertilizer, LLC among others. Major pl...