The Vietnam Ammonia market demand stood at 610 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.89% during the forecast period until 2034.
Ammonia's importance primarily lies in its crucial role as a fundamental component in the manufacturing of nitrogen fertilizers, essential for promoting agricultural growth. Beyond its agricultural role, Ammonia finds widespread application across various industries, such as refrigeration systems. Its inclusion in detergent formulations underscores its efficacy in cleaning products, while its presence in explosives and pesticides highlights its significance in industrial and agricultural domains, respectively. Particularly noteworthy is the textile industry's heavy reliance on ammonia, extensively used in tanning processes and dye synthesis for fabric colouring. Moreover, it plays a pivotal role in producing synthetic fabrics, where ammonia solution is used in fabric dyeing procedures to produce a diverse range of colours.
The ammonia market in Vietnam is witnessing significant expansion, driven by several factors. Agriculture stands out as a key driver, with ammonia serving as an essential ingredient in fertilizers, bolstering the thriving agricultural industry. Additionally, the growth of the chemical sector and increasing demand for nitrogen-based chemicals make substantial contributions to the ammonia market. Ammonia exhibits versatility across multiple industries, including refrigeration, chemical production, and pharmaceutical manufacturing, highlighting its diverse applications in industrial processes. Vietnam Ammonia market is likely to reach roughly 930 thousand tonnes in the year 2034.
Based on the end-user industry, the Vietnam Ammonia market is segmented into Agriculture & Fertilizers, Textiles & Pharmaceutical, Refrigeration, and Others. The largest market share of Ammonia goes with high proportion in Agriculture & Fertilizers. It was about 58% in the year 2023.
Significant player in the Vietnam Ammonia market is PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo). Other global players in the Global ammonia market are PetroChina Group, Parsian Oil and Gas Development Group Co., Nutrien, EuroChem Group, Qatar Fertilizer Co (QAFCO), Indian Farmers Fertiliser Co-operative Limited (IFFCO), Yihua Group, TogliattiAzot, Yangmei Group, Acro Group, and others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Vietnam Ammonia which covers production, demand and supply of Ammonia market in Vietnam.
• To analyse and forecast the market size of Vietnam Ammonia
• To classify and forecast Vietnam Ammonia market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Ammonia market in Vietnam.
To extract data for Vietnam Ammonia market, primary research surveys were conducted with Ammonia manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Vietnam Ammonia market over the coming years.
ChemAnalyst calculated Ammonia demand across the Vietnam region by analysing the volume of Ammonia consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Ammonia manufacturers and other stakeholders
• Organizations, forums and alliances related to Ammonia distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Ammonia manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Vietnam Ammonia market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
610 thousand tonnes
Market size Volume by 2034
930 thousand tonnes
Growth Rate
CAGR of 3.89% from 2024 to 2034
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Agriculture & Fertilizers, Textiles & Pharmaceutical, Refrigeration, and Others)
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the size of Vietnam Ammonia market in terms of volume in 2023?
Ans:
The size of Vietnam Ammonia market has grown significantly in the historic period and reached approximately 610 thousand tonnes in 2023.
Q2.
Which industry is leading as the leading end-user industry of Vietnam Ammonia market?
Ans:
Agriculture & Fertilizers industry is the leading end-user industry of Vietnam Ammonia market.
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