Latin America Ammonia Market Size & Outlook, 2025-2028
Latin America Ammonia Market Size
According to Straits Research analysis, The Latin America Ammonia Market was valued at USD 12365.86 Million in 2024 and is projected to reach USD 16747.57 Million by 2028, expanding at a CAGR of 7.9% during the forecast period. A significant portion of this growth is attributed to its use in agriculture as a crucial component of fertilizers. Additionally, application of ammonia in chemical industries as a basic building block for various products and in the energy sector as a hydrogen carrier or coolant further fuels the market demand. Key trends encompass adoption of green production techniques, interest in sustainable processes, and technological advancements in production capacities. The market sees a lucrative opportunity in export, given the region's robust production. Moving forward, Latin America aims to establish itself as a significant player in the global ammonia market by leveraging these emerging trends and opportunities.
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Ammonia Market Highlights
- Liquid represented the largest share of the Type market in terms of size in 2024.
- Among the Type segments, Gas is forecasted to achieve the highest growth and remain the most lucrative through the forecast period.
- In 2024, Latin America accounted for 7.72% of the global ammonia market size.
- By 2028, China is projected to lead the global market in terms of market size.
- Mexico is projected to emerge as the fastest-growing market in Latin America, reaching USD 4707 Million by 2028.
Latin America Ammonia Market Revenue Share 2024
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Report Summary
| Report Scope | Details |
|---|---|
| Base Year for Study | 2024 |
| Study Period | 2019-2028 |
| Historical Period | 2019-2023 |
| Forecast Period | 2025-2028 |
| Market Size In 2024 | USD 12365.86 Million |
| Market Size In 2028 | USD 16747.57 Million |
| Largest segment | Liquid |
| Fastest segment | Gas |
| Units | Revenue in USD Million |
| CAGR | 7.9% (2025-2028) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
Latin America Ammonia Market Share By Type
Segmentation Covered
| Segments | Sub Segments |
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| Country |
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| Type |
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| End-use |
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| Sales Channel |
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Latin America Ammonia Market By Country 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Ammonia Market By Type 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Ammonia Market By End-use 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America Ammonia Market By Sales Channel 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
