Why did the Ammonia Price Change in July 2025? The Ammonia Spot Price in North America declined consistently throughout Q2 2025, falling from USD 435/MT in April to USD 404/MT by June, marking a quarter-over-quarter drop of approximately 7.1%.

The global ammonia market is expected to witness significant growth from 2023 to 2032. The market value of ammonia amounted to nearly ** billion U.S. dollars in 2023 and is anticipated to exceed *** billion U.S. dollars in 2032. This growth is driven by the increasing demand for ammonia in various end-use industries such as fertilizers, chemicals, and pharmaceuticals.

The green ammonia market is projected to grow from USD 475.2 million in 2025 to USD 49,320.5 million by 2035, at a CAGR of 68.0%.

Metric	Value
Market Size (2025E)	USD 475.2 million
Market Value (2035F)	USD 49,320.5 million
CAGR (2025 to 2035)	68.0%

Green Ammonia Market by Top Investment Segments

Production Process Segment	CAGR (2025 to 2035)
Proton Exchange Membrane Electrolysis	72.5%

End Use Segment	CAGR (2025 to 2035)
Fertilizer	73.0%

Country-wise Outlook

Country	CAGR (2025 to 2035)
USA	68.2%

Country	CAGR (2025 to 2035)
UK	65.7%

Country	CAGR (2025 to 2035)
European Union	67.0%

Country	CAGR (2025 to 2035)
Japan	66.5%

Country	CAGR (2025 to 2035)
South Korea	67.4%

In August 2022, the ammonia price per ton amounted to $1.1K (CIF, US), increasing by 2.2% against the previous month.

Ammonia Market size was valued to be USD 83.22 Billion in the year 2024 and it is expected to reach USD 134.47 Billion in 2031, at a CAGR of 6.82 % over the forecast period of 2024 to 2031.Global Ammonia Market DriversThe market drivers for the Ammonia Market can be influenced by various factors. These may include:Sector of Agriculture: Ammonia is needed to produce fertilizers, especially urea. Crop production and other agricultural operations are directly related to the demand for ammonia. Demand for agricultural goods rises in response to changes in dietary choices and worldwide population growth, which in turn drives demand for ammonia.Ammonia finds extensive usage in a range of industrial processes, such as the production of nitrogen-based compounds such as nitric acid and ammonium nitrate. Ammonia is used in the manufacturing of textiles, plastics, explosives, medicines, and other products, which increases demand overall.Infrastructure Development: Large-scale refrigeration units, such those in food storage warehouses, cold storage facilities, and ice producing plants, employ ammonia as a coolant and in their refrigeration systems. Ammonia demand is fueled by the ongoing construction of infrastructure, particularly in emerging nations where refrigeration and cooling systems are becoming more and more necessary.Environmental rules: The demand for ammonia may be impacted by environmental rules that are designed to lower greenhouse gas emissions and improve air quality. Ammonia, for example, can be utilized as a feedstock for the creation of green energy through hydrogen synthesis or as a clean alternative fuel for vehicles. Policies that support sustainable development and clean energy may open up new markets for ammonia.Technological developments: By altering production costs and supply availability, improvements in ammonia manufacturing procedures, such as those using Haber-Bosch synthesis or the creation of more effective and ecologically friendly production techniques, can impact market dynamics.Global Economic Conditions: The demand for ammonia is influenced by the expansion of economies and industrial activity in major economies. The demand for ammonia can be driven or restrained by variables like GDP growth rates, industrial output, and investments in infrastructural projects.Energy Prices: A major factor in determining the cost of producing ammonia is the price and accessibility of energy sources, especially natural gas. Changes in energy costs have the potential to impact market dynamics and ammonia production's competitiveness.

The ammonia market is 190 million tonnes in 2023 and is projected to cross 230 million tonnes by 2032 with A CAGR of 6.5%, primarily driven by increasing consumption in the Agriculture Industry.

The East European ammonia market totaled $15.7B in 2024, increasing by 15% against the previous year. The total consumption indicated a measured increase from 2012 to 2024: its value increased at an average annual rate of +2.7% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -12.5% against 2022 indices. As a result, consumption reached the peak level of $17.9B.

Global green ammonia market size is expected to grow from USD 701 million in 2024 to USD 2,672 million in 2025 and USD 55,056 million by 2032, at CAGR of 54.1%

The global ammonia market, valued at $76,660 million in 2025, is projected to experience steady growth, driven primarily by its crucial role in fertilizer production to meet the escalating global food demand. The Compound Annual Growth Rate (CAGR) of 1.1% reflects a relatively stable market, suggesting a mature industry with consistent, albeit moderate, expansion. Key drivers include the increasing global population and the consequent need for enhanced agricultural yields. Furthermore, the rising demand for ammonia in industrial applications, such as in the production of nitric acid, nylon, and other chemicals, contributes to market growth. However, environmental concerns related to ammonia emissions and stringent regulations aimed at reducing its impact on air quality may act as restraints. Technological advancements focusing on energy-efficient ammonia production and sustainable farming practices are likely to shape the future trajectory of the market. Major players like Yara, CF Industries, and Nutrien are expected to continue dominating the market landscape through strategic expansions, technological innovations, and mergers and acquisitions. Regional variations in demand are anticipated, with regions experiencing rapid agricultural expansion and industrialization exhibiting higher growth rates. The competitive landscape is characterized by both established multinational corporations and regional players. The significant number of companies involved underlines the importance of ammonia in various sectors. The forecast period of 2025-2033 suggests a continued reliance on ammonia across diverse industries, emphasizing its sustained relevance within global economic and agricultural activities. Future market dynamics will likely be shaped by factors such as geopolitical stability, the price volatility of natural gas (a key raw material for ammonia production), and evolving government policies related to fertilizer subsidies and environmental protection. While the 1.1% CAGR suggests moderate growth, opportunities exist for innovation in production technologies and sustainable practices to enhance efficiency and environmental performance, thereby driving further market expansion.

Forecast: Anhydrous Ammonia Market Size Value in Sweden 2023 - 2027 Discover more data with ReportLinker!

The global ammonia market, valued at approximately $XX million in 2025, is projected to experience steady growth, driven by increasing demand from key sectors. A compound annual growth rate (CAGR) of 1.89% from 2025 to 2033 indicates a positive, albeit moderate, expansion. This growth is primarily fueled by the expanding agricultural sector's reliance on nitrogen-based fertilizers, a significant application of ammonia. The textile industry, particularly in rapidly developing economies, also contributes to the demand, alongside applications in mining, pharmaceuticals, and refrigeration. However, stringent environmental regulations concerning ammonia emissions and potential fluctuations in raw material prices pose challenges to sustained growth. Regional variations are anticipated, with Asia Pacific, encompassing major producers like China and India, likely to dominate the market share due to high fertilizer consumption and industrial activity. North America and Europe, while possessing established ammonia production capacities, are expected to experience more moderate growth, influenced by factors like mature agricultural markets and environmental concerns. The competitive landscape is characterized by a mix of large multinational corporations and regional players, leading to ongoing innovation and price competition. The market's future trajectory will depend heavily on the interplay between global food security demands, environmental regulations, technological advancements in ammonia production (e.g., green ammonia), and geopolitical factors influencing raw material availability and pricing. The segmentation within the ammonia market reveals further nuances. The liquid form of ammonia currently holds the largest market share, given its ease of transportation and storage. However, the gaseous form is experiencing growth, driven by its increasing use in specialized industrial applications. Among end-user industries, agriculture remains the dominant sector, followed by the textiles industry. While the pharmaceutical and refrigeration sectors contribute significantly, their growth rates might be comparatively slower compared to agriculture. The ongoing shift towards sustainable agricultural practices and stricter emission control policies may influence future segment growth. Competition amongst established players like BASF, Yara, and CF Industries, along with regional players, is expected to remain intense, characterized by strategic alliances, capacity expansions, and technological improvements in production efficiency. Recent developments include: March 2024: Yara collaborated with GHC SAOC, a wholly-owned subsidiary of Acme Cleantech. Under this collaboration, ACME will provide YARA with ammonia with reduced CO2 emissions. This collaboration covers the supply of 100,000 tons per annum of renewable ammonia., December 2023: CF Industries Holdings Inc. completed the acquisition of Incitec Pivot Limited’s (IPL) Waggaman ammonia production facility for USD 1.675 billion. This acquisition added 880,000 tons of ammonia production annually to the company’s existing production capability.. Key drivers for this market are: Abundant Use in the Fertilizer Industry, Increasing Usage to Produce Explosives. Potential restraints include: Abundant Use in the Fertilizer Industry, Increasing Usage to Produce Explosives. Notable trends are: The Agriculture Industry is Expected to Dominate the Market.

Anhydrous Ammonia Market Size Value in Sweden, 2022 Discover more data with ReportLinker!

The global ammonia market, valued at $76.14 billion in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 1.1% from 2025 to 2033. This relatively moderate growth reflects a mature market with established players and a complex interplay of factors influencing demand and supply. Key drivers include the continued demand for ammonia in fertilizer production, particularly in regions with growing populations and agricultural intensification. Furthermore, the increasing use of ammonia as a raw material in various industrial processes, including the production of plastics, contributes to market growth. However, fluctuating energy prices, stringent environmental regulations aiming to reduce greenhouse gas emissions associated with ammonia production, and geopolitical uncertainties impacting fertilizer trade present significant restraints on market expansion. The market is highly competitive, with major players like Yara, CF Industries, and Nutrien holding substantial market share. Emerging markets in Asia and Africa are anticipated to demonstrate increased demand driven by agricultural development, potentially offsetting slower growth in more saturated regions. Technological advancements focused on sustainable and efficient ammonia production methods, including green ammonia initiatives utilizing renewable energy sources, are expected to shape the market's future trajectory. The competitive landscape is characterized by both established multinational corporations and regional players. Consolidation and strategic partnerships are likely to continue as companies strive to enhance their market position and secure access to resources. Regional variations in growth rates are expected, with some regions experiencing faster growth due to factors such as population growth, increased agricultural activity, and government policies supporting fertilizer use. A focus on improving fertilizer efficiency and reducing environmental impact will be crucial for sustained market growth in the long term. The forecast period (2025-2033) will likely witness ongoing innovations in ammonia production technology, influencing both cost and sustainability, thus impacting the overall market dynamics and profitability for producers.

The Indonesian ammonia market stood at $2.4B in 2024, almost unchanged from the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $2.5B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

According to Cognitive Market Research, the global Anhydrous Ammonia market size was USD 72142.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 28857.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 21642.78 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 16592.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 3607.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1442.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.
The Agricultural Anhydrous Ammonia category is the fastest growing segment of the Anhydrous Ammonia industry

Market Dynamics of Anhydrous Ammonia Market

Key Drivers for Anhydrous Ammonia Market

Increasing Demand for Fertilizers to Boost Market Growth

Ammonia is used extensively in agriculture because it increases crop yield and, consequently, food security. Due to the world's population growth, there is a significant demand for goods like fertilisers. The International Fertiliser Association provided the data used to analyse the global consumption of ammonia in fertilisers for the years 2019 to 2022. The data, which is displayed in the figure below, demonstrates the fluctuations in ammonia consumption in fertilisers. Its constant elevation, however, emphasises its significance for contemporary agriculture. China, India, the United States, and Brazil are among the major agricultural nations that depend on ammonia to produce nitrogen fertilizers. For instance, it is predicted that there will be more than 9 billion people on the planet by 2050. A 60–70% increase in food production is needed to fulfil the rising demand./p>

Ammonia Demand Will Rise as Researchers Work to Reduce Greenhouse Gas to Drive Market Growth

Ammonia, which is needed to generate fertilisers, is often made using the Haber-Bosch process from nitrogen and hydrogen. Around 1.8% of the world's CO2 emissions are caused by its production using traditional fossil fuel-based methods. Researchers from the University of Minnesota and the University of Illinois at Chicago have been experimenting with a new electrolysis technique that produces an average of 2.8 tonnes of CO2 per tonne of NH3 while using about the same amount of energy as the conventional method. Furthermore, 2.65 tonnes of CO2 would be produced during the electrolysis process if power from fossil fuels were used, while renewable energy sources might result in zero carbon emissions. Furthermore, the researchers are assessing the potential for employing airborne NH3 instead as a source of purified nitrogen gas.

Restraint Factor for the Anhydrous Ammonia Market

Fluctuating Raw Material Prices Will Limit Market Growth

Natural gas and coal are the primary raw materials required to make ammonia, and their prices fluctuate due to geopolitics, speculation, and changes in energy regulations. Changes in demand periods or supply disruptions, as well as advancements in extraction and exploration technology, can all cause fluctuations in the price of natural gas. Ammonia is produced using a volatile raw material, and fluctuations in the price of the raw material directly affect the prices of ammonia on the market.

Impact of Covid-19 on the Anhydrous Ammonia Market

The Asia Pacific fertiliser market supply chain has been severely impacted by the COVID-19 outbreak. Road and port congestion, delays in customs clearances, and disruptions in local and international transportation systems all had an impact on crop producers by limiting their access to fertilisers. Due to farmers' inability to obtain raw materials, the reliance on oilseed and grain production on these characteristics has led to decreased productivity. For example, the Indian government is keeping a careful eye on fertiliser production and...

The global aqueous ammonia market, valued at $70,480 million in 2025, is projected to experience moderate growth, exhibiting a compound annual growth rate (CAGR) of 1.1% from 2025 to 2033. This relatively low CAGR suggests a mature market with established players and consistent demand. Key drivers for this market include its extensive use in various industries, notably as a fertilizer component in agriculture, a crucial raw material in the production of numerous chemicals and industrial cleaning solutions, and its application in wastewater treatment. The increasing global food production demand, coupled with ongoing advancements in agricultural practices, contributes to the sustained demand for aqueous ammonia as a nitrogen source in fertilizers. However, stringent environmental regulations regarding ammonia emissions and the potential for fluctuating raw material prices pose significant challenges to market growth. Competitive dynamics within the market are shaped by the presence of both large multinational corporations and regional players, leading to price competition and a need for ongoing innovation in production processes and delivery systems. The market segmentation (data not provided) likely includes distinctions based on concentration, application (fertilizer, industrial cleaning, etc.), and geographical region. Understanding the specific market segments with the highest growth potential is crucial for strategic planning. Companies like Yara, CF Industries, and others listed play significant roles, competing based on product quality, pricing strategies, and geographical reach. Future growth will likely depend on the successful adoption of sustainable production techniques, minimizing environmental impact, and meeting the rising global demand for agricultural products in a responsible manner. The expansion into emerging economies and the development of innovative applications for aqueous ammonia will also influence the market trajectory over the forecast period.

The global green ammonia market size has grown to a value of more than 3.51 Million Tons in 2024. It is expected to expand further at a CAGR of roughly 58.30% in the forecast period of 2025-2034. The market value will reach around 346.83 Million Tons by 2034.

Urea fell to 383.25 USD/T on October 6, 2025, down 0.07% from the previous day. Over the past month, Urea's price has fallen 2.36%, but it is still 15.00% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Urea.

Forecast: Nitric Acid, Sulphonitric Acids and Ammonia Market Size Value in Sweden 2022 - 2026 Discover more data with ReportLinker!

Ammonia Market Outlook

According to our latest research, the Global Ammonia Market size was valued at $73.5 billion in 2024 and is projected to reach $112.4 billion by 2033, expanding at a CAGR of 4.9% during 2024–2033. The primary driver for this robust growth is the surging demand for ammonia-based fertilizers, which remains critical to supporting the world’s rising food production needs. As population growth and dietary shifts continue to pressure agricultural output, ammonia’s role as a core ingredient in nitrogen-based fertilizers ensures its indispensable position in global supply chains. Additionally, the market is witnessing diversification with increased utilization in refrigeration, pharmaceuticals, and water treatment, further strengthening its long-term outlook.

Regional Outlook

The Asia Pacific region commands the largest share of the global ammonia market, accounting for over 55% of total consumption in 2024. This dominance is attributed to the region’s massive agricultural sector, particularly in countries like China and India, where ammonia-based fertilizers are pivotal for crop yield maximization. The presence of numerous large-scale fertilizer manufacturing facilities, coupled with supportive government policies aimed at achieving food security, has cemented Asia Pacific’s leadership. Moreover, ongoing investments in infrastructure and the expansion of the chemicals sector further bolster market growth. The region’s established logistics networks and competitive production costs also contribute to its preeminent position in the ammonia industry.

Meanwhile, Latin America is projected to be the fastest-growing region with a CAGR exceeding 6.2% through 2033. This rapid expansion is driven by increasing agricultural activities, particularly in Brazil and Argentina, where the adoption of advanced farming practices is fueling demand for high-quality fertilizers. The region is also witnessing significant investments in ammonia production capacity and supply chain enhancements to reduce dependency on imports. Additionally, initiatives to modernize refrigeration and water treatment infrastructure are opening new avenues for ammonia utilization. International partnerships and technology transfers are further accelerating market penetration, making Latin America a focal point for future growth in the ammonia sector.

Emerging economies across Africa and Southeast Asia are showing promising potential, although adoption rates are tempered by infrastructural challenges and limited access to advanced production technologies. In these regions, localized demand for ammonia is primarily driven by the need to boost agricultural productivity and improve water treatment capabilities. However, inconsistent regulatory frameworks and volatile raw material prices pose hurdles to market expansion. Governments are increasingly recognizing the strategic importance of ammonia, leading to targeted policy reforms and public-private partnerships aimed at fostering domestic production. Over the forecast period, these efforts are expected to yield gradual but steady gains in ammonia adoption, particularly as global sustainability initiatives gain traction.

Report Scope

Attributes	Details
Report Title	Ammonia Market Research Report 2033
By Product Form	Anhydrous Ammonia, Aqueous Ammonia
By Application	Fertilizers, Refrigeration, Pharmaceuticals, Water Treatment, Chemicals, Textiles, Others
By End-Use Industry	Agriculture, Industrial, Residential, Commercial, Others
Regions Covered	North America, Europe, Asia Pacific, Latin America and Middle East & Africa
Countries Covered	North America (U.S., Canada), Europe (Germany, France, Italy, U.