Low-Carbon Ammonia: A Game Changer for the Global Energy Transition
The global ammonia market size is expected to reach USD 313.2 billion by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.9% from 2025 to 2030. The growth is majorly driven by rising consumption of ammonia in fertilizers and refrigerants.
As the population of major countries around the world is projected to increase significantly, the demand for food will continue to rise, putting pressure on farmers to adopt more efficient methods of production. Ammonia-based nitrogenous fertilizers are poised to benefit from this trend as they offer increased yield, effective crop protection, and enhanced production cycles, making them a valuable tool for farmers facing the challenge of ensuring food security for an ever-rising global population.
Ammonia Market Report Highlights
The anhydrous segment accounted for the largest revenue market share, 59.8%, in 2024 and is expected to continue to dominate the industry over the forecast period.
The herbicides segment dominated the market with a market share of 78.8% in 2024, during the forecast period. This growth is due to farmers' increasing use of nitrogenous fertilizers.
The Asia Pacific region is expected to grow the fastest growth during the forecast period. The Asia-Pacific region is home to many agricultural countries, including Japan, Thailand, Indonesia, India, and the Philippines.
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NH3 is commonly used in large-scale refrigeration plants and is available in various forms such as liquid and gas. The advantage of using NH3 in refrigeration systems is that it costs 10-20% to produce compared to systems that use CFCs. In addition, according to the International Institute of Ammonia Refrigeration, ammonia is an efficient and cost-effective alternative to HFCs and CFCs and considered safe for the environment. Moreover, as per the U.S. Environment Protection Agency, the Global Warming Potential and the Potential of Ozone Depletion rating is almost null for NH3-based refrigerants.
Companies are more inclined toward producing sustainable/green NH3 as it has the potential to be a key component of a more sustainable, low-carbon energy system, as it can be used as a renewable fuel for transportation and power generation, as well as a zero-carbon feedstock for the production of fertilizers and other chemicals.
Moreover, companies like Yara International are focusing on developing sustainable product with the help of green hydrogen along with the production of conventional product. Moreover, the company is actively involved in cooperation with Statkraft & Aker Clean Hydrogen, with a goal of decarbonizing Yara’s NH3 plant by eliminating 800 kilotons of annual CO2 emissions.
List of Key Players in the Ammonia Market
Acron
Koch Fertilizers, LLC
Yara International
CF Industries Holdings, Inc.
Nutrien Ltd.
Qatar Fertiliser Company
Togliattiazot
SABIC
Sumitomo Chemical Co., Ltd.
Mitsui Chemicals, Inc.
BASF SE
Asahi Kasei Corp
We have segmented the global ammonia market on the basis of product, application and region.