Revolutionizing Industry: Ammonia Market Soars to $91.95 Billion by 2029 – Green Innovations Fuel Growth
The global ammonia market is poised for significant growth, projected to reach $91.95 billion by 2029 with a 3.0% CAGR. Anhydrous ammonia remains crucial in agricultural fertilizers, driving market expansion. The textile industry’s increasing reliance on ammonia for fabric production and dyeing contributes to rising demand, particularly in emerging markets like China and India. Europe leads in green ammonia innovations, with companies like Yara International and BASF at the forefront of low-carbon production methods. This aligns with the European Green Deal’s carbon neutrality goals. Industrial ammonia uses continue to diversify, supporting global market growth. As agricultural fertilizer demand rises and the textile sector expands, the ammonia market forecast for 2029 remains optimistic. The European ammonia market trends reflect a shift towards sustainable practices, positioning the region as a key player in shaping the industry’s future.