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Global Ammonia Market 2019-2023 | 2% CAGR Projection Through 2023 | Technavio

The global ammonia market is expected to post a CAGR of almost 2% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio announced its latest market research report titled global ammonia market 2019-2023. (Photo: Business Wire)

A rapid rise in the global population and the growing demand for food has led to an increase in the number of agricultural activities. In addition, factors such as declining arable land and rapid urbanization and industrialization have increased the use of fertilizers in the agricultural sector. Ammonia fertilizers are widely used in the agriculture industry owing to the high content of nitrogen, which is crucial for plant growth. Therefore, the increasing demand for fertilizers is expected to fuel the growth of the global ammonia market during the forecast period.

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As per Technavio, the introduction of green ammonia will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Ammonia Market: Introduction of Green Ammonia

Ammonia is produced by the Haber process which involves the conversion of hydrogen and nitrogen at high temperatures using an iron catalyst. This process accounts for 1.6% of global carbon dioxide emissions. However, in green ammonia production, hydrogen is obtained from water by electrolysis. Also, the use of renewable electricity, water, and air does not result in greenhouse gas emissions. Hence, the introduction of green ammonia will have a positive impact on the growth of the global ammonia market during the forecast period.

"Adoption of precision farming and the expansion of ammonia production capacities by key vendors will further boost market growth during the forecast period," says a senior analyst at Technavio.

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Global Ammonia Market: Segmentation Analysis

This market report segments the global ammonia market by application (fertilizers and industrial) and geography (Americas, APAC, and EMEA).

The APAC region led the market in 2018, followed by EMEA and the Americas, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the decline in arable land and increased industrialization and urbanization in the region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

  • Geographic comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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