India Ammonia Market to Grow with a CAGR of 4.85% through 2030
Strategic Partnerships and Joint Ventures is expected to
drive the India Ammonia Market growth in the forecast period, 2026-2030.
According to TechSci Research report, “India Ammonia
Market- By Region, Competition, Forecast and Opportunities,
2020-2030F”, the India Ammonia Market achieved a total market volume of 16.23
Million Tonnes in 2024 and is anticipated to grow with a CAGR of 4.85% through
2030. Strategic
partnerships and joint ventures are pivotal drivers in the Indian ammonia
market, offering a range of benefits such as access to advanced technologies,
expanded market reach, shared resources and risks, increased investment
opportunities, operational synergies, and support for sustainable practices.
These collaborations are crucial for enhancing the efficiency, growth, and
competitiveness of the ammonia industry in India. In 2024, ACME Group and the
Indian Gas Exchange (IGX) signed a memorandum of understanding (MoU) during the
India Energy Week in Goa to advance the market for green molecules like
hydrogen and ammonia, focusing on establishing a nationwide physical trading
market. This collaboration aims to foster the development of green ammonia and
related technologies. Similarly, Avaada Group and Mysore Ammonia signed an MoU
in June 2024, marking a significant step in the provision of green ammonia.
This partnership aims to assist various industries in transitioning to
sustainable energy sources, highlighting the increasing focus on green ammonia
projects and sustainable production methods.
In 2023, Adani Global Pte. Ltd., a
subsidiary of Adani Enterprises Limited, entered into a joint venture with Kowa
Holdings Asia Pte. Ltd. The agreement outlines the creation of a joint venture
company based in Singapore, dedicated to the sales and marketing of green
ammonia, green hydrogen, and related derivatives sourced from Adani's
environmentally sustainable production processes. These strategic alliances
facilitate the sharing of resources such as technology and infrastructure,
which reduces costs and improves operational efficiency. They also provide
Indian companies with access to new domestic and international markets, enhancing
distribution networks and expanding the ammonia market. These partnerships and
joint ventures drive the industry’s growth and competitiveness by advancing
technological innovation, improving market reach, and supporting sustainable
practices.
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The India Ammonia Market is segmented into form, sales
channel, application, regional distribution, and company.
Based on the Form, the Aqueous
Ammonia emerged as the fastest growing segment in the Indian market for Ammonia
during the forecast period This growth is driven by aqueous ammonia's broad
industrial applications, increasing agricultural use, safer handling
properties, and ongoing technological improvements. It is extensively used in
chemical processes such as manufacturing industrial chemicals, pharmaceuticals,
and cleaning agents, and plays a key role in water treatment by removing
pollutants and neutralizing acidic waste. Aqueous ammonia, being a diluted
solution, is generally safer and more manageable than anhydrous ammonia, which
boosts its adoption. Technological advancements have enhanced its efficiency in
industrial uses, further driving its market growth. Additionally, rising
investments in storage and distribution infrastructure are supporting its
expansion.
Based on the region, the South India emerged as the
fastest growing region in the India Ammonia market during the forecast period.
The South
region, encompassing states like Tamil Nadu, Karnataka, and Andhra Pradesh, has
a robust agricultural sector that drives high fertilizer demand to support a
variety of crops, thereby increasing the need for ammonia, a key ingredient in
these fertilizers. Significant investments are being made to enhance fertilizer
production facilities in the region. For instance, in January 2024, Southern
Petrochemical Industries Corporation (SPIC) Ltd announced a Rs 1,900 crore
investment over the next two years to expand its operations in Tamil Nadu,
including the development of a green ammonia plant. There is also growing
interest in green ammonia projects utilizing renewable energy sources.
Investments in sustainable ammonia production are on the rise, driven by
environmental policies and a push for cleaner technologies. The Kerala
Government has received Rs 72,760 crore in investment proposals from four major
companies for green hydrogen and green ammonia projects, based on the state's
draft green hydrogen policy. Additionally, the Andhra Pradesh government has
introduced a green hydrogen and green ammonia policy for 2023, aiming for a
five-year production capacity of 0.5 MTPA of green hydrogen and 2 MTPA of green
ammonia. This policy will encourage the establishment of green hydrogen and
ammonia equipment manufacturing plants, potentially creating around 12,000 jobs
per MTPA of green hydrogen produced. The New and Renewable Energy Development
Corporation of Andhra Pradesh (NREDCAP) will oversee this policy. Southern
states also benefit from major ports like Chennai and Visakhapatnam, which
enhance the efficiency of ammonia import and export. The region’s industrial
growth, particularly in chemicals and manufacturing, further fuels the demand
for ammonia across various applications.
Major companies operating in India Ammonia Market are:
- Indian
Farmers Fertiliser Cooperative Limited
- Gujarat
State Fertilizer & Chemicals Limited
- Madras
Fertilizers Limited
- Trilok
Chemicals Pvt Ltd
- Deepak
Fertilisers And Petrochemicals Corporation Limited
- Yara
Fertilisers India Pvt. Ltd.
- Tata
Chemicals Limited
- Brahmaputra
Valley Fertlizers Corporation Limited
- Mysore
Ammonia Pvt. Ltd.
- Fertilisers
and Chemicals Travancore Limited
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“The Indian ammonia market is significantly impacted
by the country's move towards decentralized production. Regions like Odisha and
West Bengal are investing heavily in expanding ammonia fertilizer facilities
and promoting green ammonia initiatives. These investments in modern
infrastructure and sustainable practices are driving market growth, making
these areas pivotal for meeting domestic demands and advancing global
environmental objectives. This shift highlights India's strategic emphasis on
regional specialization and innovation in the ammonia industry,” said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based management
consulting firm.
“India Ammonia Market By Form (Anhydrous Ammonia, Aqueous Ammonia), By Sales Channel (Direct Sales Channel, Indirect Sales Channel), By Application (Fertilizers, Explosives, Others), By Region, Competition, Forecast and Opportunities, 2020-2030F”, has evaluated
the future growth potential of India Ammonia Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Ammonia Market.
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