The global ammonia market size was USD 67.01 billion in 2020 and is projected to grow from USD 71.98 billion in 2021 to USD 110.93 billion in 2028 at a CAGR of 6.4% during the 2021-2028 period.
the global ammonia market was influenced by several factors including agricultural demand for fertilizers, industrial applications such as in the production of chemicals and pharmaceuticals, and its potential as a clean energy carrier in the context of the growing interest in hydrogen-based energy systems.
The demand for ammonia as a fertilizer is typically the largest driver of the market, with agriculture being the primary consumer. However, industrial applications also play a significant role, particularly in chemical synthesis processes.
It's important to note that the ammonia market can be subject to fluctuations based on factors such as raw material prices (natural gas being a primary feedstock for ammonia production), energy costs, and geopolitical events that may affect supply chains or trade dynamics.
For the most current information on the ammonia market, I recommend consulting recent market reports, industry publications, and financial news sources. These sources will provide up-to-date insights into factors impacting supply, demand, prices, and market trends.
LIST OF KEY COMPANIES PROFILED:
- Yara International ASA (Oslo, Norway)
- BASF SE (Ludwigshafen, Germany)
- CF Industries Holdings, Inc. (Illinois, the U.S.)
- Nutrien Ltd. (Saskatoon, Canada)
- SABIC (Riyadh, Saudi Arabia)
- Qatar Petroleum (Doha, Qatar)
- EuroChem Group (Zug, Switzerland)
