Ammonia market projected to reach $121.5 billion by 2032 due to increased demand
From GlobeNewswire: 2024-12-20 09:00:00
The ammonia market is projected to reach USD 121.5 billion by 2032, with a CAGR of 4.9% from 2024 to 2032. Key trends driving this growth include increased demand for ammonia-based fertilizers due to rising global population and agricultural needs. Ammonia is also used in industrial applications and emerging energy sectors. Asia-Pacific dominated the market in 2023, with significant contributions from the fertilizer and industrial segments. Innovations in green ammonia production and storage technology are shaping the future of the market, with companies like Yara International and BASF leading the way. Major players in the market include Koch Fertilizer LLC, SABIC, and Nutrien Ltd. Asia-Pacific, Europe, and North America are key regions driving market growth, with a focus on sustainable production methods and increasing industrial demand. Recent developments include Yara International’s commercial-scale green ammonia plant and CF Industries’ investment in low-carbon production technologies. The market dynamics analysis includes PESTLE analysis and Porter’s Five Forces model to assess driving factors and industry competition. Statistical insights cover production capacity, feedstock prices, regulatory impact, and environmental metrics. The competitive landscape examines major companies, market share, strategic initiatives, and technological advancements.
Segmentation of the ammonia market by product and application is detailed, along with regional analysis and company profiles. Use cases and best practices are highlighted, leading to a conclusion. For deeper insights, consult with expert analysts at SNS Insider for customized research and market trends information.
SNS Insider is a top market research and consulting agency offering global industry dominance. Providing clients with current market data and consumer insights, we aim to empower decision-making in evolving environments. Utilizing surveys, video talks, and focus groups worldwide, we ensure accurate information for confident decisions. Contact us for customized research at [email protected].
Read more at GlobeNewswire: Ammonia Market Projected to Reach USD 121.5 Billion by 2032