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 global ammonia market size was valued at USD 83.32 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 127.10 Billion by 2033, exhibiting a CAGR of 4.3% from 2025-2033. Asia Pacific currently dominates the market, holding a market share of over 55.9% in 2024. The market is driven by increasing demand for fertilizers in agriculture, growing industrial applications, rising production of chemicals and explosives, advancements in refrigeration technologies, and expanding usage in wastewater treatment. Additionally, the shift towards sustainable and eco-friendly agricultural practices further fuels market growth.

The global Ammonia market has reached around 166 million tonnes in 2024 and is expected to grow at a CAGR of 4.48% during the forecast period until 2035.

Ammonia Market was valued at USD 70.4 Bn. It is estimated to reach USD 134.9 Bn in 2032 at a CAGR of 6.9% from 2023 and 2032

The ammonia agriculture and industrial sector is forecast to reach a market size of some 111 billion U.S. dollars worldwide in 2050, making it the largest application for the chemical. Shipping fuel is expected to follow in second, with a market valued at 87 billion U.S. dollars. That same year, agriculture and industry is also estimated to account for the highest share of ammonia demand across the globe.

The global ammonia market reached a volume of approximately 194.80 MMT in 2024. The market is assessed to grow at a CAGR of 1.90% in the forecast period of 2025-2034 to reach a volume of around 235.14 MMT by 2034.

In 2021, the global green ammonia market stood at around *** thousand metric tons, up from *** thousand metric tons in the previous year. Over the next decade, this figure is forecast to grow at a compound annual growth rate (CAGR) of ** percent, reaching approximately *** million metric tons by 2030.

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%

The ammonia market size was valued at USD 90.6 billion in 2025 and is projected to reach a valuation of USD 254.3 billion by the end of 2045, rising at a CAGR of 5.2% during the forecast period, i.e., 2026-2045. Asia Pacific excluding Japan industry is expected to dominate the global market with a share of 64.2% during the forecast period due to the high consumption of fertilizer and industrial uses of ammonia and ammonia in clean energy technologies.

The Green Ammonia Market Report is Segmented by Application (Agriculture, Marine Fuel, Power Generation, Hydrogen Carrier, Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, Middle East and Africa). The Market Forecasts are Provided in Terms of Volume (tons).

According to Cognitive Market Research, the global Anhydrous Ammonia market size will be 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...

The Ammonia Market Report Segments the Industry by Type (Liquid and Gas), Application (Nitrogen Fertiliser Intermediate, Refrigerants (Industrial and Cold-Chain), Explosives and Mining Nitrates, and More), End-User Industry (Agriculture, Textiles, Mining, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Volume (tons).

The Asia-Pacific Ammonia Market Report is Segmented by Type (Liquid and Gas) and End-User Industry (Agriculture, Textile, Mining, Pharmaceutical, Refrigeration, and Other End-User Industries). The Market Sizes and Forecasts are Provided in Volume (Tons) for all the Above Segments.

India Ammonia market has reached around 19 million tonnes in FY2023 and is expected to further grow at a CAGR of 3.9% during the forecast period until FY2034.

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 clean ammonia market size was over USD 2.38 billion in 2024 and is anticipated to cross USD 123.53 billion by 2037, witnessing more than 35.5% CAGR during the forecast period i.e., between 2025-2037. Europe industry is predicted to dominate majority revenue share of 35% by 2037, backed by presence of large facilities for ammonia production in the region.

Global Blue Ammonia Market size will exceed a valuation of USD 22.91 million by 2032, to grow at a CAGR of 5.90% during the forecast period.

Green Ammonia Market is estimated to be valued at USD 2.52 Bn in 2025 and is expected to expand at CAGR of 70.5%, reaching USD 105.75 Bn by 2032.

According to Cognitive Market Research, the global Aqua Ammonia market size will be USD 612.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 3.50% 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 245.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 183.75 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 140.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 30.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.9% 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 12.25 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
The Electronic Grade held the highest Aqua Ammonia market revenue share in 2024.

Market Dynamics of Aqua Ammonia Market

Key Drivers for Aqua Ammonia Market

Growing Demand for Agricultural Practices

Aqua ammonia is critical to the production of fertilizers that have a nitrogen foundation since it is a key component. One of these factors is the increasing need for fertilizers that has arisen as a consequence of greater crop yields and increased agricultural output on a global scale. In the agricultural industry, it is commonly used as a source of ammonia for the production of fertilizers. There is a possibility that the market for aqua ammonia might be influenced by agricultural developments like as precision farming and the focus placed on boosting crop yields.

Increasing Demand for the Product as a Natural Refrigerant

Ammonia is becoming increasingly necessary in fertilizers and refrigerants. NH3 fertilizers are in high demand due to the increasing global population, increasing food demands, and a decrease in arable land. Consequently, the market will expand. Ammonia is frequently utilized in large-scale refrigeration facilities, and it is available in both liquid and gaseous forms. It is firmly advised due to its considerable cost savings of 10–20% over systems that utilize CFCs. Furthermore, the substance is considered a natural refrigerant due to its lack of direct contribution to ozone depletion or greenhouse gas emissions. Furthermore, NH3 possesses favorable thermodynamic properties that enable it to produce refrigeration with minimal energy input. During the anticipated period, these factors are expected to stimulate the growth of the product market.

Restraint Factor for the Aqua Ammonia Market

Toxicity and Safety Concerns

Exposure to excessive quantities of aqua ammonia can be hazardous due to its caustic nature. It has the ability to cause irritation to the skin, eyes, and respiratory system. It is imperative to implement suitable safety measures, including the use of personal protective equipment, when working with aqua ammonia. Extreme caution is required when handling and storing aqua ammonia due to its caustic nature. Proper storage conditions, such as well-ventilated chambers and secure containers, can prevent accidents. Therefore, it is anticipated that these factors will impede the expansion of the aqua ammonia market during the forecast period.

Impact of Covid-19 on the Aqua Ammonia Market

The worldwide COVID-19 pandemic has been unprecedented and devastating, with demand across all areas falling below pre-pandemic levels. Due to market expansion and demand reverting to pre-pandemic levels, CAGR rose suddenly. The worldwide epidemic has disrupted global supply chains in several industries. Movement restrictions, lockdowns, and additional measures have disrupted chemical manufacture, distribution, and transportation, which may impair Aqua Ammonia's supply. Chemical demand has fluctuated throughout the outbreak. Due to changing priorities and economic instability, Aqua Ammonia demand may have shifted in water treatment and agriculture (for fertilizers). Introduction of the Aqua Ammonia Market

Aqua ammonia, or ammonium hydroxide, is a solution that is produced when ammonia gas (NH3) is dissolved in water (H2O). ...

The ammonia market size is projected to grow from $ 85.21 billion in 2024 to $156.36 billion by 2035, representing a CAGR of 5.67% during the forecast period 2024-2035.