The global ammonia market was valued at USD 70.7 billion in 2024 and is projected to grow to USD 113 billion by 2034, expanding at a CAGR of 4.8% from 2025 to 2034. Asia‑Pacific currently leads with a 54.2% revenue share, generating roughly USD 38.3 billion in 2024.
Ammonia (NH₃), a colourless gas used extensively in fertilizers, chemicals, refrigeration, and emerging as a clean energy carrier, remains fundamental to global agriculture accounting for almost 80% of usage and plays a growing role in industrial and energy applications
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A rising global population, increased demand for food, and the push for sustainable farming drive fertilizer use. The emerging role of ammonia in clean energy (especially green and blue variants) further fuels interest
Advancements in green ammonia produced via renewable-powered electrolysis are gaining momentum, backed by government and private investments such as green projects worth over USD 50 billion.
Conventional ammonia heavily relies on fossil-based feedstocks like natural gas and coal, resulting in significant GHG emissions (~1‑2% of global CO₂), while green ammonia remains costly and in early commercial stages
Blue ammonia (with carbon capture) is gaining attention in regulatory-driven markets, while green ammonia sees rapid projected growth (78.2% CAGR through 2032), particularly in Europe.Numerous global renewable energy and green ammonia initiatives are underway, with major investments in India, Germany, Australia, and the U.S.
Conclusion:
The ammonia market remains pivotal in agriculture and traditional industrial use, supported by steady growth. However, it is undergoing a strategic shift toward sustainability, driven by escalating demand for green and blue ammonia amid stringent environmental policies. While traditional production remains dominant, green ammonia innovations powered by renewables are gaining traction. Economies capable of scaling cleaner ammonia production will likely lead in the next phase of ammonia-based global supply chains.
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