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 Sri Lankan ammonia market surged to $530K in 2024, picking up by 60% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $630K. From 2023 to 2024, the growth of the market remained at a somewhat lower figure.

The Canadian ammonia market rose sharply to $2.5B in 2024, picking up by 6.8% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $2.6B. From 2023 to 2024, the growth of the market failed to regain momentum.

Statistics illustrates consumption, production, prices, and trade of Anhydrous Ammonia in the World from 2007 to 2024.

The Indonesian ammonia market surged to $3.4B in 2024, picking up by 20% against the previous year. In general, the total consumption indicated a moderate increase from 2012 to 2024: its value increased at an average annual rate of +2.6% 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 increased by +71.6% against 2020 indices.

In 2023, after two years of decline, there was significant growth in supplies from abroad of anhydrous ammonia, when their volume increased by 199% to 693K tons.

The Indian ammonia market rose rapidly to $14.6B in 2024, surging by 9% against the previous year. Overall, the total consumption indicated a perceptible expansion from 2012 to 2024: its value increased at an average annual rate of +3.3% 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 -5.1% against 2022 indices.

The Omani ammonia market skyrocketed to $884M in 2024, with an increase of 23% against the previous year. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $1.1B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

According to Cognitive Market Research, the global Granular Sulfur market size will be USD 22541.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 10.60% 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 9016.6 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 6762.4 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 5184.5 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1127.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% 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 450.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031.
The Food Grade Type held the highest Granular Sulfur market revenue share in 2024.

Market Dynamics of Granular Sulfur Market

Key Drivers for Granular Sulfur Market

Increasing Demand for Fertilizers to Increase the Demand Globally

Granular sulfur is a vital component in the production of fertilizers, especially sulfur-containing types such as ammonium sulfate and single superphosphate. These fertilizers play a crucial role in crop nutrition, improving soil fertility, and boosting agricultural yields. Plants require significant amounts of nitrogen, phosphorus, potassium, sulfur, calcium, and magnesium. Nutrients are lost from the soil due to crop removal, erosion, leaching, soil fixation, and other factors. This is particularly important during the early stages of plant development for producing essential amino acids, proteins, and oils. Sulfur's most critical role in crop production is aiding in forming protein molecules and amino acids, which are necessary for producing chlorophyll, lignin, and pectin. It supports photosynthesis, the process by which plants convert sunlight into chemical energy. Agricultural fertilizer production accounts for about 54% of all recovered sulfur produced globally. Between September 2021 and April 2022, anhydrous ammonia prices in the United States more than doubled, reaching a record-high $1,300 per ton. According to the world fertilizer outlook, the demand for phosphorus (P2O5) fertilizer was estimated at 47,402 thousand tons in 2020 and is expected to reach 49,096 thousand tons in 2022.

Growing petrochemical industry to Propel Market Growth

Granular sulfur is utilized in various chemical processes, particularly in producing sulfuric acid, a key raw material for many industrial applications. The growth of chemical industries, especially in developing regions, is fueling the demand for granular sulfur. In the petroleum refining sector, sulfur is produced as a byproduct of desulfurization processes. As the petrochemical industry expands, the availability of sulfur and its uses in producing rubber, detergents, and other chemicals have risen. In 2022, the United States set a record for petroleum product exports, increasing by 7% compared to 2021, as reported in the Petroleum Supply Monthly. U.S. petroleum product exports averaged 5.97 million barrels per day (b/d) in 2022, which is 405,000 b/d more than in 2021, largely due to an 18% increase (193,000 b/d) in distillate fuel oil exports.

Restraint Factor for the Granular Sulfur Market

Market Volatility and Competition from Alternative Products to Limit the Sales

The price of sulfur is closely linked to the petroleum industry, as sulfur is often a byproduct of oil refining. Fluctuations in crude oil prices can lead to volatility in sulfur prices, creating uncertainty in the market and impacting profitability for producers and consumers. The availability of alternative fertilizers, such as nitrogen, phosphorus, and potassium-based fertilizers, can limit the demand for sulfur-based fertilizers. Innovations in alternative fertilizers and improved efficiency can reduce the reliance on sulfur. In industrial applications, alternative chemicals and materials can serve as substitutes for sulfur. For example, in the rubber industry, other vulcanizing agents can be u...

The Pakistani ammonia market rose rapidly to $2.8B in 2024, increasing by 7% against the previous year. Over the period under review, the total consumption indicated a notable increase from 2012 to 2024: its value increased at an average annual rate of +4.7% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -6.2% against 2022 indices.

Statistics illustrates consumption, production, prices, and trade of Anhydrous Ammonia in Saudi Arabia from 2007 to 2024.

The Asian ammonia market totaled $65.5B in 2024, surging by 9.8% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2024: its value increased at an average annual rate of +2.4% 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 -3.1% against 2022 indices. As a result, consumption attained the peak level of $67.6B.