Global Ammonia Market Outlook

The chart displays data for global ammonia market for the years 2018 to 2032, wherein the market size was usd 182.85 billion in the year 2022, and the cagr was estimated to be 6.6% during the forecast period 2023 to 2030. the primary driver of the ammonia market is its use in the production of nitrogen-based fertilizers. ammonia is a key ingredient in the manufacturing of fertilizers like urea, ammonium nitrate, and ammonium phosphate. as global population increases and the need for food rises, the demand for ammonia-based fertilizers to enhance agricultural productivity and crop yields also grows. ammonia finds applications in various industrial sectors. it is used in the production of chemicals such as nitric acid, explosives, plastics, synthetic fibers, and cleaning agents. industrial growth, particularly in developing economies, drives the demand for ammonia in these sectors. ammonia is gaining attention as a potential energy carrier and a source of renewable energy. it can be used as a hydrogen carrier for fuel cells or as a feedstock for ammonia combustion to generate power or produce green hydrogen. with the increasing focus on decarbonization and the transition to clean energy sources, ammonia's role as a sustainable energy solution is expected to drive its demand in the future. ammonia is utilized in various construction materials, such as insulation foams, as well as in refrigeration systems. as infrastructure projects increase worldwide, particularly in developing regions, the demand for ammonia in construction and refrigeration applications is likely to grow