Southeast Asia Ammonia Market Report and Forecast 2024-2032

Southeast Asia Ammonia Market Report and Forecast 2024-2032

Market Outlook

According to the report the Southeast Asia ammonia market grew substantially in 2023. Aided by the escalating demand in the agriculture sector and versatile applications in other industries, the market is projected to further grow at a CAGR of 2.20% between 2024 and 2032.

Ammonia, primarily a compound of nitrogen and hydrogen, is predominantly deployed as a key ingredient in fertilisers, specifically urea, ammonium nitrate, and ammonium phosphate. Given the agrarian profile of many Southeast Asian countries, the application of ammonia-based fertilisers plays a pivotal role in enhancing crop yields, ensuring food security, and supporting the livelihoods of vast agrarian populations.

As per the Southeast Asia ammonia market analysis, beyond its agricultural implications, ammonia serves varied purposes across different industries. Its anti-fungal properties make it integral for pharmaceutical applications, while it's also employed in refrigeration systems, wastewater treatments, and the production of plastics and dyes. Such multifaceted usability significantly bolsters its demand in the Southeast Asian market.

The major impetus pushing the Southeast Asia ammonia market growth in the region is the burgeoning agricultural sector. With Southeast Asia being a powerhouse for commodities like rice, maize, and palm oil, the necessity for enhanced fertilisers to guarantee optimum yield is paramount. As the global population surges and the pressure on Southeast Asian countries to export crops intensifies, reliance on ammonia-derived products is expected to swell.

Simultaneously, industrial growth and urbanisation in countries like Indonesia, Vietnam, and the Philippines are spawning newer applications for ammonia, from waste treatment in booming urban centres to its use in rapidly expanding industries like textiles and plastics and propel the Southeast Asia ammonia market demand.

Furthermore, while the agricultural demand for ammonia is robust, overuse poses environmental challenges. Excess nitrogen from fertilisers can lead to water pollution, causing harm to aquatic ecosystems, and contributing to greenhouse gas emissions.

The integration of green technologies in ammonia production could be the game-changer. Research is ongoing to harness renewable energy sources for ammonia production, reducing its carbon footprint. Additionally, precision agriculture using data and technology to apply fertilisers more efficiently can mitigate the environmental impacts, making the use of ammonia more sustainable in the long run and further increasing the value of the Southeast Asia ammonia market size.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type

• Gas
• Liquid

Market Breakup by Application

• Fertilisers
• Textile
• Mining
• Pharmaceuticals
• Refrigeration
• Others

Market Breakup by Country

• Myanmar
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Vietnam
• Others

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Southeast Asia ammonia market. Some of the major players explored in the report are as follows:

• Yara International ASA
• PT Pupuk Kalimantan Timur (PKT)
• PETRONAS Chemicals Group Berhad
• Brunei Fertilizer Industries Sdn Bhd (BFI)
• Linde plc
• Teknogas (M) Sdn Bhd
• NFC Public Company Limited
• Pride-Chem Industries
• Others