Strong Agricultural Fundamentals Drive Consumption Growth
Global ammonia demand has grown at an average annual rate of approximately 2 percent over the past decade. Fertilizer use typically represents more than 80 percent of global nitrogen demand. Urea fertilizer production consumes almost half of all global ammonia production.
Although industrial use only represents 20 percent of ammonia consumption, demand has grown by an average of 5 percent per year over the past decade. The largest growth in industrial use comes from Asia, where China’s consumption is estimated to have grown by 6 percent per year over the past 10 years. Consumption of nitrogen for industrial uses has rebounded in the US as the economy recovers and new products are developed such as Diesel Exhaust Fluid (DEF).