Ammonia Market Industry Overview, Market Share, Leading Players, Regional Overview and Growth Prospects Report

The ammonia market is poised for steady growth, driven by its vital role in agriculture as a key fertilizer component and expanding demand in industrial applications. Innovations in green ammonia production and rising adoption in renewable energy sectors further bolster its future prospects.
The global ammonia market size [https://www.marketsandmarkets.com/Market-Reports/ammonia-market-252376175.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=ammonia] is projected to grow from USD 79.47 billion in 2024 to USD 91.95 billion by 2029, at a CAGR of 3.0% during the forecast period.

The ammonia market is expanding as it is essential to the transition to sustainable and clean energy. Green and blue ammonia are becoming important for decarbonizing industries like shipping, electricity production, and agriculture. Ammonia has the potential to be a direct zero-carbon fuel in sectors like marine transportation. The usage of ammonia in fertilizers continues to drive the ammonia market, despite the world's growing need for food. Thus, ammonia is increasingly playing a crucial role in helping to meet climate targets and facilitate the switch to sustainable energy sources.

A few of the major players are CF Industries Holdings, Inc. (US), Yara International ASA (Norway), OCI Global (Netherlands), BASF SE (Germany), and Nutrien (Canada). These players have implemented various growth strategies, such as product launches, collaborations, partnerships, acquisitions, and expansions to enhance their market shares and boost their product portfolios.

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CF Industries Holdings, Inc., founded in 1946 is the largest global ammonia producer. CF Industries was established in 1946 as Central Farmers Fertilizer Company and became CF Industries in 1970. The company manufactures ammonia and ammonia-derived products at nine production facilities. The company's primary product is anhydrous ammonia, composed of 82% nitrogen and 18% hydrogen. From this, CF Industries produces nitrogen-based products such as granular urea, urea ammonium nitrate solution (UAN), and ammonium nitrate (AN). It offers other nitrogen products like diesel exhaust fluid (DEF), urea liquor, nitric acid, and aqua ammonia, which are mainly supplied to its industrial customers. The company produces between 9.5 and 10 million tons of ammonia annually at its manufacturing facilities, with a portion of ammonia sold directly to agricultural and industrial customers.

Yara International ASA was established in 1905 and headquartered in Oslo, Norway. It is a global leader in crop nutrition, ammonia production, and essential industrial solutions. Yara operates through the following segments: Europe, Americas, Africa & Asia, Global Plants & Operational Excellence, Clean Ammonia, and Industrial Solutions. The Global Plants & Operational Excellence segment manages Yara's largest and export-focused production facilities, including those at Porsgrunn and Sluiskil. The Industrial Solutions segment offers nitrogen-based solutions and services across various industries. The Clean Ammonia segment oversees Yara's Ammonia Sales and Logistics operations, playing a key role in optimizing production capacity. This segment also leads Yara's efforts to explore renewable and low-carbon ammonia projects. The company operates over 10,800 Yara-branded retail outlets across more than 60 countries and has sales in 140 countries. Yara's infrastructure includes 26 production sites, terminals, warehouses, blending units, and bagging facilities worldwide.

OCI Global founded in 2013, is a leading global producer and distributor of hydrogen products, supplying fertilizers, fuels, and feedstock to agricultural, transportation, and industrial customers worldwide. The reportable segments are Methanol US, Methanol Europe, and Nitrogen Europe. The company has a production capacity of 16.81 million metric tons per year. It operates across four continents, producing ammonia, nitrogen fertilizers, methanol, biofuels, diesel exhaust fluid, and other nitrogen products. Its production facilities are situated in the United States, the Netherlands, the United Arab Emirates, Egypt, and Algeria. In 2023, OCI Global produced 1,898.2 thousand metric tons of ammonia.

BASF SE founded in 1865, is one of the prominent chemical manufacturing companies in Europe. Its business is divided Into six segments, namely, Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions. In BASF's Materials segment, there are two divisions: Monomers and Performance Materials. In BASF's Materials segment, the two divisions are Monomers and Performance Materials. The Monomers division includes products such as isocyanates (MDI, TDI), ammonia, caprolactam, adipic acid, chlorine, urea, glues and impregnating resins, caustic soda, polyamides 6 and 6.6, standard alcoholates, sulfuric acid, and nitric acid. The annual capacity for ammonia in this division is 1,370,000 metric tons. BASF operates in 93 countries and has 234 production sites around the world.

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Nutrien founded in 2018, is a leading provider of crop inputs and services. The company operates a top-tier, integrated network of production, distribution, and agricultural retail facilities, enabling customers to efficiently meet the needs of growers. Nutrien Ag Solutions is the subsidiary of the company which is the retail business of the company, handling distribution of farming supplies and fertilizers. It has four reportable segments, namely, Retail, Potash, Nitrogen, and Phosphate. Nutrien is the world's third-largest producer of nitrogen, with a gross ammonia capacity exceeding seven million tons and the capability to produce over 11 million tons of total nitrogen products across the US, Canada, and Trinidad.

Textile accounts for the second-largest share of the ammonia market by end-use industry

Ammonia is used in the textile industry for fabric finishing and dyeing, along with the production of synthetic fibers such as nylon and polyester. According to the Indian Chamber of Commerce, the global apparel market is expected to reach USD 2.6 trillion by 2025, with an estimated growth rate of 4%. The expansion will primarily be fueled by emerging economies, especially China and India, which are anticipated to achieve double-digit growth rates. China is expected to emerge as the largest apparel market, with an addition of over USD 378 billion to its market size by 2025. India is forecasted to be the second largest market, with an estimated increase of around USD 121 billion.

Europe accounted for the second largest share in the global ammonia market

Europe has major market players such as Yara International ASA in Norway, OCI Global Netherlands, BASF SE in Germany, and EuroChem Group in Switzerland among others. These companies are the leading producers of ammonia and remain involved in the development of both typical and green ammonia solutions and importantly drive the sulfate of the European ammonia market. Yara International ASA is a leading global producer of ammonia and fertilizers involved in green ammonia investments. Yara has the European environmental standards and the policy of the European Green Deal, which plans to reach the level of carbon neutrality during 2050. Yara is setting up an industry benchmark through the production of green ammonia through renewable energy sources. This accelerates the pace of the transition to sustainable ammonia throughout Europe.

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The companies have initiated the following developments:

* In August 2024, OCI Global entered into a binding equity purchase agreement to sell 100% of its equity interests in the 1.1 million metric tons Clean Ammonia project, currently under construction in Beaumont, Texas to Woodside Energy Group Ltd. The transaction follows a competitive process, with the agreed purchase price set at USD 2.35 billion on a cash-free, debt-free basis.
* In July 2024, CF Industries Holdings, Inc. announced plans to advance a carbon capture and sequestration (CCS) project at its Yazoo City, Mississippi, facility, aimed at reducing carbon dioxide (CO2) emissions by up to 500,000 metric tons per year. The company entered into a definitive commercial agreement with ExxonMobil for the transport and permanent geological storage of the captured CO2, with sequestration expected to begin in 2028. As part of the project, CF Industries will invest approximately USD 100 million to construct a CO2 dehydration and compression unit at the Yazoo City Complex. This unit will capture and store up to 500,000 metric tons of CO2, a byproduct of ammonia production.
* In July 2024, CF Industries Holdings, Inc. and POET LLC, the world's largest biofuel producer and a leader in sustainable bioproducts, announced a collaboration to test the use of low-carbon ammonia fertilizer to lower the carbon intensity of corn production and ethanol.
* In May 2024, Yara Clean Ammonia and Greenko ZeroC, the green ammonia production division of India's AM Green, signed a term sheet for the supply of renewable ammonia from Phase 1 of AM Green's production facility in Kakinada, India.
* In May 2024, BASF SE introduced its first biomass-balanced products within its ammonia and urea portfolio.
* In May 2024, BASF SE and International Process Plants (IPP), a global leader in the acquisition and sale of process plants and equipment, partnered to market ammonia, methanol, and melamine plants situated at BASF's Verbund site in Ludwigshafen, Germany.
* In April 2024, CF Industries Holdings, Inc. and JERA Co., Inc., Japan's largest energy company, announced the signing of a joint development agreement (JDA) to explore the creation of new low-carbon ammonia production facilities at CF Industries' Blue Point Complex in Louisiana.
* In March 2024, BASF SE launched AdBlue ZeroPCF marking the introduction of the first AdBlue product with a reduced carbon footprint.
* In March 2024, Yara and GHC SAOC, a fully owned subsidiary of Acme Cleantech, a prominent renewable energy company in India, entered into a firm and binding agreement for the long-term supply of low CO2 emission ammonia from Acme to Yara.

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