Indian Ammonia Market Size, Top Manufacturers Share, Growth, Demand and Forecast 2023-2028
IMARC Group’s latest research report, titled “Indian Ammonia Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” The Indian ammonia market size reached US$ 5,415 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 5,748 Million by 2028, exhibiting a growth rate (CAGR) of 1% during 2023-2028.
Indian Ammonia Market Overview:
Ammonia is a naturally occurring compound with a pungent odor. It is a colorless gas with one nitrogen atom and three hydrogen atoms, giving it the chemical formula NH3. It can be found in small amounts in the air, soil, and water. It is widely used in agriculture as a fertilizer as it provides a source of nitrogen that plants need to grow. It is also used to produce various chemicals, such as plastics, explosives, and cleaning products. It is highly soluble in water, and when dissolved, it can be a strong base. It is a versatile compound with important industrial and agricultural applications.
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Indian Ammonia Industry Growth Analysis:
The market in India is majorly driven by the increasing product demand as a fertilizer in the agriculture sector. In line with this, the expanding chemical industry, which uses ammonia as a raw material in manufacturing various chemicals, is significantly contributing to the market. Furthermore, the rising government initiatives to promote ammonia as a fuel in the transportation sector are creating a positive outlook for the market. Apart from this, the rapid growth in industrialization and urbanization in India is leading to an accelerating demand for ammonia for various industrial purposes. Moreover, developing new technologies and processes for ammonia production is expected to positively influence the market. Besides, the widespread product utilization as a raw material for the production of drugs in the pharmaceutical industry is offering lucrative opportunities for the market. Additionally, the rapid product uptake as a refrigerant in the food and beverage industry is providing a boost to the market.
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Key Market Segmentation:
Top Ammonia Manufacturers in India:
- Chambal Fertilisers and Chemicals Limited
- Gujarat Narmada Valley Fertilizers Company Ltd.
- Indian Farmers Fertiliser Cooperative Limited (IFFCO)
- Krishak Bharati Cooperative Ltd (KRIBHCO)
- Nagarjuna Fertilizers and Chemicals Limited,
- Rashtriya Chemicals and Fertilizers Limited
- Southern Petrochemical Industries Corporation (SPIC) Limited
Breakup by Physical Form:
- Anhydrous Ammonia
- Aqueous Ammonia
Breakup by End-Use:
- Urea
- Ammonium Phosphate Fertilizers
- Industrial
- Others
Breakup by States:
- Gujarat
- Maharashtra
- Rajasthan
- Others
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