Ammonia Market Outlook:
Ammonia Market size was valued at USD 90.6 billion in 2025 and is projected to reach a valuation of USD 254.3 billion by the end of 2045, rising at a CAGR of 5.2% during the forecast period, i.e., 2026-2045. In 2026, the industry size of ammonia is evaluated at USD 95.5 billion.
The ammonia market is steadily growing due to its widespread use in fertilizers, chemicals, and future energy solutions. Ammonia production from renewable hydrogen is changing the industry, lowering CO2 emissions, and increasing sustainability. In January 2025, LUPRO, a Korean green energy company, signed a USD 4.5 billion deal with Muscat House in Oman and MA Corporation in Thailand to advance and market green ammonia. This investment represents the increasing global focus on reducing carbon emissions in ammonia production to meet the increasing demand for fertilizers and industrial chemicals.
Governments across the globe are promoting the increase of ammonia production, including green and low-carbon ammonia. In December 2024, the European Union provided financial backing to Air Liquide for the development of the first large-scale renewable hydrogen production from ammonia project at the Port of Antwerp-Bruges in Belgium. Also, the two biggest consumers of ammonia, China and the U.S., are exploring ways to use capture technologies in order to cut emissions from ammonia production. As the world shifts towards clean energy sources and there is an increase in demand for fertilizer, ammonia continues to be a key industrial and agricultural product in the global market.
