Market Overview The global ammonia market was valued at USD 71.99 billion in 2021 and is projected to achieve a revenue CAGR of 6.5% during the forecast period. Growth in the global ammonia market is primarily driven by increasing demand for ammonia in fertilizers and household cleaning products, as well as the rising need for clean fuel in energy production.
Ammonia is an inorganic compound consisting of one nitrogen atom covalently bonded to three hydrogen atoms. It serves as an amidase inhibitor and neurotoxin and is produced both naturally through bacterial processes and manufactured. In 2021, global ammonia production was estimated to be around 150 million metric tons. Ammonia finds applications in various industrial and agricultural processes, including refrigerants and fertilizers. It is an essential source of nitrogen for plants and animals, leading to its widespread use in farming. Approximately 90% of produced ammonia is utilized in fertilizers worldwide. As soil nutrients deplete naturally during food crop production, ammonia-based fertilizers are increasingly adopted by farmers to ensure healthy crops and productive soil. In 2019, global consumption of nitrogen fertilizers reached 105 million metric tons, further driving the demand for ammonia.
The COVID-19 pandemic has heightened awareness of cleanliness and hygiene, resulting in increased adoption of household cleaning products. Ammonium hydroxide, commonly known as household ammonia, is a mixture of ammonia and water used for cleaning various surfaces such as kitchen countertops, sinks, toilets, and bathtubs. Its effectiveness in removing animal fats, vegetable oils, and stains from surfaces contributes to hygiene and cleanliness. Ammonia's fast evaporation rate also makes it a common ingredient in glass cleaning solutions. In 2020, the average expenditure on housekeeping supplies per consumer unit in the United States was USD 836.51. Additionally, ammonia serves as a crucial feedstock ingredient for creating nitric acid, a primary component in the production of specialty organic chemicals. The focus on energy efficiency and reducing energy consumption is expected to drive the use of ammonia as a refrigerant, offering safe, environmentally friendly, and energy-saving cooling solutions. With zero Ozone Depletion Potential (ODP) and Global Warming Potential (GWP), ammonia outperforms other chemicals as a refrigerant. These factors are anticipated to contribute to the market's revenue growth during the forecast period.
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Market Dynamics Driver: Rising demand for clean fuel in energy production Increasing global energy consumption, driven by rising energy demands for economic and social development, has led to the need for clean fuels. Ammonia presents a potential solution for transitioning to a hydrogen economy due to its use in combustion engines and gas turbines, including internal combustion engines. As a carbon-free fuel, ammonia helps reduce Carbon Dioxide (CO2) emissions and addresses challenges related to hydrogen energy options and the hydrogen economy. It can also serve as a storage medium and transportation method for hydrogen without requiring significant changes to existing infrastructure. Ammonia has also shown promise as a cost-effective marine fuel, with MAN Energy Solutions developing ammonia-fueled engines for the maritime industry. With its high-octane rating, narrow flammability range, and safety from explosion risks, ammonia offers potential growth opportunities in the clean fuel sector.
Restraint: Risk associated with exposure to high levels of ammonia Exposure to high levels of ammonia in the air can cause immediate burning sensations in the nose, throat, and respiratory tract, potentially leading to respiratory distress or failure. Swallowing ammonia solutions can also harm the mouth, throat, and stomach due to their high ammonia concentrations. Inhalation of lower concentrations can result in coughing, nose irritation, and throat irritation. While ingestion of ammonia usually does not cause systemic poisoning, exposure to high levels of ammonia can have irreversible or serious
Ammonia Market: Drive factors
The ammonia market is driven by several factors, including:
1. Rising Demand for Ammonia in Fertilizers: The increasing need for ammonia in the production of fertilizers is a major driver of market growth. Ammonia is a vital source of nitrogen, an essential nutrient for plant growth. With the depletion of nutrients in soil during food crop production, farmers are increasingly using ammonia-based fertilizers to maintain healthy crops and soil fertility. Approximately 90% of ammonia production is used in fertilizer applications worldwide.
2. Growing Demand for Household Cleaning Products: The COVID-19 pandemic has heightened awareness of cleanliness and hygiene, leading to an increased adoption of household cleaning products. Ammonium hydroxide, a mixture of ammonia and water, is commonly used in cleaning solutions to clean various surfaces, such as kitchen countertops, sinks, and bathtubs. Ammonia's effective cleaning properties, including its ability to remove grease and stains, make it a popular ingredient in household cleaning products.
3. Increasing Demand for Clean Fuel in Energy Production: The global focus on reducing carbon emissions and transitioning to cleaner energy sources is driving the demand for clean fuels. Ammonia is considered a carbon-free fuel and can be used to reduce CO2 emissions in energy production. It has the potential to serve as a hydrogen storage medium, fuel for combustion engines and gas turbines, and a marine fuel. Ammonia's characteristics, such as its high-octane rating, efficiency, and safety profile, make it an attractive option for clean fuel applications.
Overall, the rising demand for ammonia in fertilizers, household cleaning products, clean fuel applications, and refrigeration systems, along with supportive government initiatives, are key driving factors for the ammonia market.
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