South Korea Ammonia Market Size, Share, and COVID-19 Impact Analysis, By Type (Liquid, and Gas), By End Use (Agriculture, Textile, Mining, Pharmaceutical, Refrigeration, and Others), and South Korea Ammonia Market Insights, Industry Trend, Forecasts to 2035

South Korea Ammonia Market Insights Forecasts to 2035

• The South Korea Ammonia Market Size Was Estimated at USD 3407.5 Million in 2024
• The Market Size is Expected to Grow at a CAGR of Around 8.02% from 2025 to 2035
• The South Korea Ammonia Market Size is Expected to Reach USD 7958.7 Million by 2035

According to a research report published by Spherical Insights & Consulting, the South Korea ammonia market size is anticipated to reach USD 7958.7 Million by 2035, Growing at a CAGR of 8.02% from 2025 to 2035. The ammonia market in South Korea is driven by fertilizer demand, chemical industry applications, energy sector use, green ammonia acceptance, technological improvements, export potential, and strategic placement in global sustainable ammonia production

Market Overview

The South Korea ammonia market includes all stages of ammonia production and distribution, and industrial ammonia consumption across different sectors. Ammonia serves as the main raw material for producing fertilizers and chemicals, pharmaceutical products, refrigeration systems, and wastewater treatment systems. The green ammonia technology develops into various new applications because of its use for clean energy production and hydrogen storage. Ammonia serves as a resource for South Korea's agricultural sector and industrial operations and energy transition projects, which enable the country to produce sustainable products that fulfill domestic and international market needs.

The South Korea ammonia market gets backing through the National Hydrogen Strategy government programs, which provide $39 billion toward green hydrogen and ammonia project costs. The policies of the organization support ammonia co-firing, clean hydrogen certification processes, and the development of infrastructure and research and development activities. Sustainable production and market expansion receive support through tax credits, refueling station funding, and export assistance programs.

South Korea witnesses technological progress in ammonia-to-power systems through Amogy's local expansion in February 2025 and GS E&C and HD Hyundai's 1 MW pilot project, which will start operations in 2026. The company demonstrates its ability to innovate through its relationship with Samsung Heavy Industries and its use of ammonia cracking technology. The company plans to develop commercial clean power systems and ammonia-hydrogen decarbonization solutions in the future.

Report Coverage

This research report categorizes the market for the South Korea ammonia market based on various segments and regions, and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea ammonia market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea ammonia market.

Driving Factors

The ammonia market in South Korea is driven by the strong fertilizer production requirements for agricultural needs, the chemical and pharmaceutical industries, and the use of ammonia as a sustainable energy solution. The South Korean market for green hydrogen and ammonia experiences rapid growth because of government funding, technological progress, and the development of infrastructure and the export capabilities of the country, which positions it as a top contributor to sustainable ammonia manufacturing and worldwide ammonia distribution networks.

Restraining Factors

The ammonia market in South Korea is mostly constrained by the high green ammonia production expenses and unstable energy costs, rigorous environmental rules, insufficient domestic hydrogen resources and infrastructure limitations, and the need to import materials, which together prevent the market from reaching its full potential.

Market Segmentation

The South Korea ammonia market share is classified into type and end use.

• The liquid segment accounted for the largest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period. 

The South Korea ammonia market is segmented by type into liquid, and gas. Among these, the liquid segment accounted for the largest revenue market share in 2024 and is expected to grow at a significant CAGR during the forecast period. Due to its widespread use in fertilizer production, chemical manufacturing, and energy applications, ease of handling, storage, and transportation, and suitability for large-scale industrial and export operations, liquid ammonia dominates the South Korean market and drives higher demand and revenue growth than gaseous ammonia.

• The agriculture segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. 

The South Korea ammonia market is segmented by end use into agriculture, textile, mining, pharmaceutical, refrigeration, and others. Among these, the agriculture segment dominated the share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. Due to its widespread use in fertilizer manufacture, which sustains the nation's booming agricultural industry, the ammonia market in South Korea is dominated by the agriculture segment. Modern farming methods, the need for food security, and the high need for nitrogen-based fertilizers all contribute to steady increases in revenue and consumption.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea ammonia market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Namhae Chemical Corporation
• Matheson Gas Products Korea Co. Ltd.
• KPM TECH Co. Ltd.
• LOTTE Chemical
• Hanwha Solutions
• SK E&S
• Hanyang Corporation
• Toyo-Korea
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments:

• In December 2025, a breakthrough in ammonia-based hydrogen generation was confirmed in Chungju's Green Hydrogen Zone, lowering commercialization-related regulatory obstacles.

• In November 2025, Amogy and Samsung Heavy Industries form a strategic alliance to produce ammonia-to-power systems in South Korea.

• In September 2025, the first large-scale ammonia cracking project for hydrogen mobility will start in Jeonbuk Province.

Market Segment

This study forecasts revenue at the South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea ammonia market based on the below-mentioned segments:

South Korea Ammonia Market, By Type

• Liquid
• Gas

South Korea Ammonia Market, By End Use

• Agriculture
• Textile
• Mining
• Pharmaceutical
• Refrigeration
• Others