Indian Ammonia Market is to be Driven by Increasing Food Demand and Increasing Fertilizer Demand in the Forecast Period of 2023-2028

The new report by Expert Market Research titled, ‘Indian Ammonia Market Report and Forecast 2023-2028’, gives an in-depth analysis of the Indian Ammonia Market, assessing the market based on its segments like physical forms, end-uses and states. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2018-2028)

Historical Market Size (2022): 16.9 million metric tons
Forecast CAGR (2023-2028): 8.2%
Forecast Market Size (2028): 27.12 million metric tons

The market’s growth would be aided by Fertilizer as it is the largest end-use sector currently represents the country’s largest source of ammonia. Growing food demand, combined with a growing focus on production security, is expected to catalyse the demand for fertilizers in India, facilitating the growth of the ammonia industry.

Industry Definition and Major Segments

Ammonia is a suffocating gas that is colourless and has an extremely unpleasant odour. It dissolves easily in water and forms an ammonium hydroxide solution. Burns and irritation are possible side effects of the solution. Its gaseous form can be compressed quickly, and it is colourless and transparent in its liquid form under pressure. It is normally delivered in steel cylinders as a compressed liquid. It is not particularly combustible, but if subjected to excessive temperatures, it will burst. Ammonia is used as a refrigerant due to its advantages, which include high efficiency, environmental friendliness, the ability to use narrower coils, and better heat transfer.

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On the basis of physical forms, the Ammonia Market is segmented into:

Anhydrous Ammonia
Aqueous Ammonia

On the basis of end-uses, the industry can be segmented into:

Urea
Ammonium Phosphate Fertilizers
Industrial
Others

The following states are included in the regional markets:

Gujarat
Maharashtra
Rajasthan
Others

Market Trends

Indian Ammonia Market Report is being driven the fertilizers sector that dominates end-use, and it is regarded as a critical source of nitrogen for plant development. Ammonia is also used to make ammonium nitrate, water ammonia, and urea, both of which are liquid fertilizer solutions. Since it reacts easily with clay particles, organic matter, free hydrogen ions, and groundwater, the chemical is commonly used in agricultural applications (which inhibits the volatilization of ammonia).

However, In China, ammonia is primarily generated by coal gasification, while it is primarily derived from natural gas in the rest of the world. In terms of product market growth, China is led by India and Indonesia. In the coming years, the product’s potential is predicted to skyrocket around the world.

Key Market Players

The major players in the market are Chambal Fertilizers and Chemicals Company, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Indian Farmers Fertilizer Cooperative Limited (IFFCO), Krishak Bharati Co-Operative Limited (KRIBHCO) and others. The report covers the market shares, plant turnarounds, capacities, investments, expansions and mergers and acquisitions, among other latest developments of these market players.