Global Ammonium Bicarbonate Market Trends, Forecast Report 2025-2037
Ammonium Bicarbonate Market size was over USD 1.29 billion in 2024 and is projected to reach USD 2.04 billion by 2037, witnessing around 3.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of ammonium bicarbonate is assessed at USD 1.32 billion.
The ammonium bicarbonate market is primarily driven by its use as a raw material in fire extinguishers. Fire extinguisher preparations in 2022 were the world's 1101st most traded product according to OEC, accounting for a total trade value of USD 335 million. In 2022 the fire extinguishers preparations export rate grew to USD 335 million from USD 281 million in 2021, a CAGR of 19.2%, and represented 0.0014% of the overall world trade. The U.S. recorded an export value of USD 77.7 million, marking the top exporter of fire extinguisher preparations, while Canada remained the top importer with a value of USD 20.2 million in 2022. The U.S. world import trade flow in 2023 as per the WTIS was USD 239,309.34, which comprised USD 147,812.82 from Mexico, USD 38,811 from Hungary, and USD 14,831 from China. The high global trade value of fire extinguishers is directly influencing the growth of ammonium bicarbonate as a potential raw material.
The ammonium bicarbonate market dynamics are proportionately influenced by the global supply chain of anhydrous ammonia. In 2022, ammonia was the world's 250th most traded product and held a total trade value of USD 17 billion, registering a 62% year-on-year growth, and anhydrous ammonium, an ammonium bicarbonate raw material grew by 63.6% in 2022. According to the OEC, the key exporters of anhydrous ammonia include Trinidad and Tobago (USD 3.53 billion), Saudi Arabia (USD 2.3 billion), Indonesia (USD 1.83 billion), Algeria (USD 1.27 billion), and Canada (USD 1.1 billion). Furthermore, public and private initiatives and strategies to incentivize domestic production of green fossil fuels are facilitating the proliferation of low-carbon ammonia and its byproducts including ammonium bicarbonate for cultivators. For instance, in September 2024, the U.S. Loan Program Office (LPO) announced a commitment to finance USD 1.559 billion for commercial-scale waste-to-ammonia facilities to promote sequestration and carbon capture technologies.
