The global ammonia market size 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.
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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.
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.
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.
The companies have initiated the following developments:
Related Reports:
Ammonia Market by Type (Anhydrous, Aqueous), Sales Channel (Direct and Indirect), End-use Industry (Agriculture, Textile, Refrigeration, Mining, and Pharmaceutical), and Region - Global Forecast to 2029
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