India Ammonia Market Poised for Growth Driven by Strategic Partnerships and Sustainable Initiatives

According to a recent report by TechSci Research, titled "Ammonia Market in India – By Region, Competition, Forecast, and Opportunities, 2020-2030F", the Indian ammonia market recorded a total volume of 16.23 million tonnes in 2024 and is projected to grow at a CAGR of 4.85% through 2030. The market’s expansion is primarily fueled by strategic partnerships and joint ventures, enabling companies to access advanced technologies, expand market reach, share resources, and drive sustainable practices.

Strategic Collaborations Boosting Market Expansion

In 2024, ACME Group and the Indian Gas Exchange (IGX) signed a Memorandum of Understanding (MoU) at India Energy Week in Goa, aimed at developing a nationwide physical trading market for green molecules like hydrogen and ammonia. This collaboration is expected to accelerate the adoption of green ammonia technologies. Similarly, Avaada Group and Mysore Ammonia signed an MoU in June 2024, signifying a major step towards promoting green ammonia as an alternative energy source for industries transitioning to sustainable solutions.

In 2023, Adani Global Pte. Ltd., a subsidiary of Adani Enterprises Limited, partnered with Kowa Holdings Asia Pte. Ltd. to establish a Singapore-based joint venture dedicated to the sales and marketing of green ammonia, green hydrogen, and related derivatives. These alliances enable resource sharing, cost optimization, and improved operational efficiency while expanding both domestic and international market access.

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Market Segmentation and Regional Insights

By Form: Aqueous Ammonia Leading Growth

The aqueous ammonia segment is emerging as the fastest-growing category in the Indian ammonia market due to its widespread industrial applications, including:

• Chemical manufacturing (industrial chemicals, pharmaceuticals, and cleaning agents)

• Water treatment (neutralizing acidic waste and removing pollutants)

• Safer handling compared to anhydrous ammonia

Technological advancements and increasing investments in storage and distribution infrastructure are further boosting the demand for aqueous ammonia.

By Region: South India at the Forefront

South India is expected to be the fastest-growing region in the Indian ammonia market, driven by:

• A robust agricultural sector in states like Tamil Nadu, Karnataka, and Andhra Pradesh, increasing fertilizer demand.

• Significant investments in fertilizer production facilities, such as Southern Petrochemical Industries Corporation (SPIC) Ltd.'s Rs 1,900 crore expansion plan in Tamil Nadu, including a green ammonia plant.

• Growing interest in green ammonia projects supported by environmental policies and renewable energy investments.

The Kerala Government has received Rs 72,760 crore in investment proposals from major companies for green hydrogen and ammonia projects, aligning with the state’s draft green hydrogen policy. Additionally, the Andhra Pradesh government introduced its Green Hydrogen and Green Ammonia Policy 2023, aiming for a production capacity of 0.5 MTPA of green hydrogen and 2 MTPA of green ammonia over five years, potentially creating 12,000 jobs per MTPA of green hydrogen produced. This policy is overseen by the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP).

With major ports like Chennai and Visakhapatnam, the South Indian region is also positioned as a key hub for ammonia imports and exports, further strengthening its industrial and economic growth.

Key Players in the India Ammonia Market

Major companies operating in the Indian ammonia market include:

• 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 Fertilizers Corporation Limited

• Mysore Ammonia Pvt. Ltd.

• Fertilisers and Chemicals Travancore Limited

Future Outlook and Investment Opportunities

The Indian ammonia market is witnessing a shift towards decentralized production, with regions like Odisha and West Bengal investing in ammonia fertilizer facilities and green ammonia initiatives. This transition aligns with India’s commitment to sustainable energy solutions and global environmental goals.

“India's ammonia market is undergoing a transformation driven by technological advancements, regional investments, and sustainability-focused initiatives. These developments are crucial in meeting domestic demand while positioning India as a key player in the global ammonia sector,” said Mr. Karan Chechi, Research Director at TechSci Research.

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Report Insights

The India Ammonia Market Report provides:

• Market size, structure, and future growth projections

• Key drivers, challenges, and opportunities

• Emerging trends and technological innovations

For more details, download the free sample report and request 10% free customization.

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