A Look Into the Future: The Growing Global Ammonia Market

In 2017, the global ammonia market was estimated to be worth around $55.56 billion dollars and forecasters predict that it will grow at a compounded annual growth rate (CAGR) of 4.7% to $80.14 billion by the year 2026. 

This future growth can mainly be attributed to the rapid development of the fertilizer industry which Ammonia’s uses are most notable for. In addition to fertilizers, Ammonia is also used within the pharmaceuticals industry as well as in industrial refrigeration. Ammonia can also be found within the livestock, plastics, paper, food and chemical industries serving many purposes. 

With a growing population and a growing demand for food to feed that population, Ammonia has been on the rise for its applications within the fertilizer industry and is expected to be a major part of its expected future growth. 

Ammonia comes in two forms, a gaseous form called “Anhydrous(NH4)” which means “Ammonia without water” and “Aqueous(NH4OH)” which is a liquid compound of Ammonia and Water. Of these two forms, Anhydrous Ammonia is expected to be a larger growth component due to its high availability and low-cost relative to Aqueous Ammonia. 

In addition to its benefits in various industries, use of Ammonia products also have several associated risk factors  to be aware of like its reliance on the fluctuating price on natural gas(used in the creation of Ammonia) as well as its toxic nature and harmfulness to humans. 

As the population in the Asian region explodes over time, the demand for Ammonia products should rise with it as more people need things like cosmetics and food as well as new sources of fuel as mentioned in one of our previous blog posts. 

The Ammonia industry is still in the early innings of its growth story and there is still a lot to be hopeful for as companies make breakthroughs for new use cases as well as the growing demand for it in current industries as the world’s population increases. 

R. M. Technologies is acknowledged for quality products and service. Our extensive engineering expertise with ammonia, combined with our product knowledge and highly trained personnel, provides you with the convenience of dealing with one company for all your ammonia project requirements.​

For additional information or specific application, please contact RM Technologies of America at: (800) 775-4280 or sales@rmtech.net