Ammonia In Aqueous Solution Market

The article discusses the increasing global demand for ammonia in aqueous solution, forecasting a steady upward trend in consumption over the next eight years. Market performance is expected to grow, with a projected increase in market volume and value by 2030. Key insights include data on consumption, production, exports, and imports of ammonia in aqueous solution worldwide, highlighting trends in major consuming and producing countries.

Market Forecast

Driven by increasing demand for ammonia in aqueous solution worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.8% for the period from 2022 to 2030, which is projected to bring the market volume to 9.8M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.0% for the period from 2022 to 2030, which is projected to bring the market value to $7.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Ammonia In Aqueous Solution

Global ammonia in aqueous solution consumption expanded rapidly to 6.7M tons in 2022, surging by 6.3% compared with the year before. Over the period under review, consumption showed a buoyant increase. Global consumption peaked at 7M tons in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

The global ammonia in aqueous solution market revenue amounted to $4.3B in 2022, with an increase of 6.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a prominent increase. Over the period under review, the global market hit record highs at $4.4B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Consumption By Country

The country with the largest volume of ammonia in aqueous solution consumption was China (1.3M tons), comprising approx. 19% of total volume. Moreover, ammonia in aqueous solution consumption in China exceeded the figures recorded by the second-largest consumer, Russia (545K tons), twofold. The third position in this ranking was taken by India (531K tons), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +14.3%. In the other countries, the average annual rates were as follows: Russia (+12.4% per year) and India (+13.3% per year).

In value terms, Japan ($565M), the United States ($500M) and China ($328M) were the countries with the highest levels of market value in 2022, with a combined 33% share of the global market. Indonesia, South Korea, Russia, India, Finland, Brazil, Bangladesh, France, Turkey and Pakistan lagged somewhat behind, together comprising a further 25%.

Among the main consuming countries, Finland, with a CAGR of +56.7%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of ammonia in aqueous solution per capita consumption was registered in Finland (24 kg per person), followed by Russia (3.8 kg per person), South Korea (3.2 kg per person) and Japan (3.2 kg per person), while the world average per capita consumption of ammonia in aqueous solution was estimated at 0.9 kg per person.

In Finland, ammonia in aqueous solution per capita consumption expanded at an average annual rate of +58.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+12.4% per year) and South Korea (+14.5% per year).

Production

World Production of Ammonia In Aqueous Solution

Global ammonia in aqueous solution production totaled 6.9M tons in 2022, surging by 4.9% compared with the previous year's figure. Overall, production saw a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 41%. Over the period under review, global production hit record highs at 7.3M tons in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In value terms, ammonia in aqueous solution production reached $4.6B in 2022 estimated in export price. In general, production saw strong growth. The pace of growth was the most pronounced in 2014 when the production volume increased by 53%. Over the period under review, global production reached the peak level at $4.6B in 2020; afterwards, it flattened through to 2022.

Production By Country

The country with the largest volume of ammonia in aqueous solution production was China (1.3M tons), comprising approx. 19% of total volume. Moreover, ammonia in aqueous solution production in China exceeded the figures recorded by the second-largest producer, Russia (553K tons), twofold. India (546K tons) ranked third in terms of total production with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +14.1%. The remaining producing countries recorded the following average annual rates of production growth: Russia (+12.0% per year) and India (+13.0% per year).

Imports

World Imports of Ammonia In Aqueous Solution

In 2022, the amount of ammonia in aqueous solution imported worldwide soared to 758K tons, increasing by 52% on 2021. Over the period under review, imports saw resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ammonia in aqueous solution imports skyrocketed to $244M in 2022. In general, imports enjoyed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

The purchases of the three major importers of ammonia in aqueous solution, namely France, the United States and Germany, represented more than third of total import. It was distantly followed by Belgium (67K tons), making up an 8.9% share of total imports. The following importers - Italy (31K tons), Israel (27K tons), Sweden (26K tons), Romania (25K tons), Croatia (23K tons), Switzerland (21K tons), Slovakia (21K tons), Austria (18K tons) and the Netherlands (12K tons) - together made up 27% of total imports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +78.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, France ($40M), Germany ($25M) and Italy ($20M) appeared to be the countries with the highest levels of imports in 2022, with a combined 35% share of global imports. The United States, Israel, Belgium, Switzerland, Sweden, the Netherlands, Austria, Slovakia, Romania and Croatia lagged somewhat behind, together comprising a further 35%.

In terms of the main importing countries, Romania, with a CAGR of +61.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average ammonia in aqueous solution import price stood at $322 per ton in 2022, growing by 9.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 12% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($816 per ton), while Croatia ($77 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Ammonia In Aqueous Solution

In 2022, global ammonia in aqueous solution exports surged to 912K tons, growing by 26% compared with the previous year. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 44% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, ammonia in aqueous solution exports soared to $754M in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 127%. The global exports peaked at $759M in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, Saudi Arabia (187K tons), distantly followed by the Netherlands (87K tons), Poland (84K tons), Egypt (82K tons), Belgium (74K tons), the Czech Republic (46K tons) and Bahrain (44K tons) were the key exporters of ammonia in aqueous solution, together constituting 66% of total exports. The following exporters - Germany (33K tons), France (31K tons), Canada (30K tons), Slovakia (26K tons), the United States (24K tons) and Lithuania (23K tons) - together made up 18% of total exports.

Exports from Saudi Arabia decreased at an average annual rate of -2.7% from 2012 to 2022. At the same time, Lithuania (+41.9%), Slovakia (+32.9%), the Czech Republic (+19.6%), Poland (+17.5%), the United States (+15.0%), the Netherlands (+8.0%), Belgium (+6.8%), Bahrain (+5.2%) and France (+4.6%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing exporter exported in the world, with a CAGR of +41.9% from 2012-2022. By contrast, Germany (-3.2%), Canada (-3.5%) and Egypt (-5.6%) illustrated a downward trend over the same period. Poland (+7.4 p.p.), the Netherlands (+5.1 p.p.), the Czech Republic (+4.2 p.p.), Belgium (+3.9 p.p.), Slovakia (+2.7 p.p.), Lithuania (+2.5 p.p.), the United States (+2 p.p.) and Bahrain (+1.9 p.p.) significantly strengthened its position in terms of the global exports, while Saudi Arabia and Egypt saw its share reduced by -6.7% and -7.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($414M) remains the largest ammonia in aqueous solution supplier worldwide, comprising 55% of global exports. The second position in the ranking was taken by Egypt ($42M), with a 5.6% share of global exports. It was followed by Bahrain, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia totaled +3.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (-6.8% per year) and Bahrain (+8.8% per year).

Export Prices By Country

In 2022, the average ammonia in aqueous solution export price amounted to $827 per ton, leveling off at the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 77%. Over the period under review, the average export prices hit record highs at $842 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($2,213 per ton), while Lithuania ($131 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform