Ammonia Market Segmentation:
Product Segment Analysis
The anhydrous ammonia segment is expected to dominate the ammonia market, commanding a 62.9% share through 2045 due to its high nitrogen content and its use in agricultural and industrial applications. Anhydrous ammonia is increasingly favored as a component of fertilizers which is used as a hydrogen transport medium for energy uses. Several companies are capitalizing on this application to expand their share. In July 2024, CF Industries invested USD 100 million to establish a CO2 capture facility at the Yazoo City Complex and develop low-carbon anhydrous ammonia. Due to its cost-efficiency and applicability to various industries, the anhydrous segment is anticipated to remain dominant.
Application Segment Analysis
The fertilizer segment is anticipated to lead the ammonia market and hold 60.2% of the market share by 2045, as agriculture continues to be the largest consumer of ammonia. Ammonia is a constituent of almost all fertilizers, and farmers use it to enhance crop yields, hence driving the demand for ammonia. In April 2024, OCI agreed with COMPO EXPERT to obtain low-carbon ammonia for NPK fertilizer production, which testifies to the industry’s focus on the use of environmentally friendly products. Furthermore, the increase in food consumption and climate change is anticipated to continue promoting the adoption of ammonia in the agriculture sector.
Our in-depth analysis of the ammonia market includes the following segments:
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