Ammonia Storage Tanks Market Size, Growth Trends & Insights Analysis Report by Type (Single-wall Tank, Double-wall Tank), by Application (Chemical, Agriculture, Refrigeration, Energy and Others), by Region, and Competitive Landscape Forecasts, 2025 – 2033

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Updated on 12/17/2024

1 Global Ammonia Storage Tanks Market Size (Revenue) and CAGR (2024-2033)

The global Ammonia Storage Tanks market size is 582.90 M USD in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 4.78% from 2024 to 2033. This growth rate indicates that despite certain challenges facing the market, the overall trend remains positive, reflecting the continued demand for Ammonia Storage Tanks.

This growth is attributed to the increasing demand for ammonia in agricultural fertilizers, the expansion of the refrigeration industry, and the adoption of ammonia as a renewable energy carrier. In the agricultural sector, the continued rise in the global population has led to a growing demand for food, and the use of fertilizers has increased significantly to ensure crop yields. Ammonia is a core raw material for the production of various fertilizers such as nitrogen fertilizers, and its demand has risen. A large amount of ammonia needs to be properly stored, which directly drives the demand for the Ammonia Storage Tanks market.

In the chemical industry, ammonia is not only the key to fertilizer production, but is also widely used in the manufacturing process of many chemical products such as nitric acid and soda ash. With the continuous expansion of the scale of the chemical industry, the consumption of ammonia is increasing, which accordingly puts higher requirements on the number and capacity of Ammonia Storage Tanks.

In addition, in the context of energy transformation, ammonia has emerged as a highly promising clean energy carrier. In particular, with the advancement of renewable energy hydrogen production technology, green ammonia (produced with the help of renewable energy) has gradually become an emerging zero-carbon fuel option in shipping, power generation and other fields. This has opened up a new growth path for the Ammonia Storage Tanks market, and the demand for Ammonia Storage Tanks in many energy-related projects has shown a rapid growth trend. The compound annual growth rate between 2024 and 2033 shows the potential of the market and reflects the healthy growth in the adoption of Ammonia Storage Tanks worldwide.

Figure Global Ammonia Storage Tanks Market Size (M USD) Outlook (2024-2033)

2 Ammonia Storage Tanks Industry Limitations and Growth Drivers

Table Key Industry Limitations of Ammonia Storage Tanks

Item	Descriptions
High cost	Ammonia storage tanks are large and complex pieces of equipment that require significant initial investment as well as ongoing maintenance and operating costs. Ammonia storage tank suppliers need to provide customers with transportation, installation and maintenance work. Due to the special nature of ammonia and the expertise required to operate and maintain equipment, staff require lengthy training, resulting in higher labor costs for manufacturers. On the other hand, ammonia storage tanks are a technology-intensive industry, and technological innovation is crucial in industry competition, which brings additional challenges to manufacturers that lack internal technical capabilities. The production of ammonia storage tanks is highly regulated and may need to meet different market safety and environmental requirements and laws, which can add cost and complexity to the product. Therefore, high costs hinder the growth of the market.
Concerns about leaking ammonia storage tanks	Ammonia storage tank leaks pose major safety risks. The main hazards of ammonia storage tank leaks include poisoning injuries, fire explosions, environmental pollution and secondary accidents. Leakage of ammonia gas can lead to poisoning, irritation to the eyes, lung mucosa, or skin, and there is a risk of chemical cold burns. Liquid ammonia easily volatilizes into ammonia gas. When the liquid ammonia storage tank ruptures, liquid ammonia leaks, which may lead to fire and explosion when encountering a fire source. After ammonia leaks, the source of ammonia in the air will rise rapidly, which will cause people to absorb high concentrations of ammonia in a short period of time and cause poisoning, and the continuous diffusion of ammonia will make the environment continue to deteriorate. The dangers of liquid ammonia leakage also include easy gasification and diffusion, and secondary accidents. Once a ammonia leakage accident occurs, it will easily cause serious consequences. In October 2023, an ammonia tanker leaked in the United States, and the anhydrous ammonia released caused the death of 5 people and hospitalized 7 others. Hundreds of residents were also evacuated as a precaution. Ammonia leakage will cause major dangers, and the storage tank pressure needs to be strictly controlled, and production must also be strictly carried out in accordance with standards. Users should assess the risks and take appropriate precautions to ensure their own safety and that of those around them. Concerns about leaking ammonia storage tanks could therefore dampen the market.

Table Key Market Drivers & Growth Opportunities of Ammonia Storage Tanks

Item

Descriptions

Growing demand from the agricultural sector

Healthy, sustainable and inclusive food systems are critical to achieving the world’s development goals. Agricultural development is one of the most powerful tools for eradicating extreme poverty, promoting shared prosperity and feeding an estimated 10 billion people by 2050. Growth in the agricultural sector is two to four times more effective than other sectors in raising incomes for the poorest. Approximately 50% of the world’s food production depends on the application of mineral fertilizers. As the world’s population continues to increase, fertilizer consumption continues to grow. Ammonia is an important component of fertilizers. It can effectively increase the nitrogen content in the soil, thereby supplying nutrients needed for plant growth. Today, a large proportion of the ammonia produced each year is used in fertilizer production. Fertilization can improve plant nutrition, promote plant growth, improve crop quality, and ultimately maintain or even enhance soil fertility. With the increase in population and economic growth, increasing crop yields has become an important part of agricultural development. Therefore, increasing demand from the agricultural sector is driving the ammonia storage tanks market.

Ammonia stores renewable energy

Renewable energy plays an important role in addressing some of the key challenges facing global society today, such as climate change, energy costs and energy security. However, the deployment of renewable energy requires higher storage capacity to overcome the inherent intermittency of renewable resources and increase their power generation capacity to match energy production with demand. There are different energy storage technologies to choose from, such as batteries or pumped storage. However, due to their own limitations, they don’t solve all the problems of energy storage.

Ammonia is a carbon-free and dispatchable energy carrier, enabling it to store large amounts of renewable electricity. It is a prime candidate to provide a secure, clean renewable energy supply for a variety of fixed or mobile applications, and can leverage existing infrastructure, clear regulations, and a history of over 75 years of acceptable security to provide a wide range of energy storage services. Therefore, ammonia stores renewable energy has created opportunities for the ammonia storage tank market.

The global ammonia storage tanks market is segmented into two primary product types: single-wall tanks and double-wall tanks. Each type has distinct definitions and serves different market needs, contributing to the overall market size in 2024.

Single-wall ammonia storage tanks are composed of a low-temperature steel inner wall, an outer cold insulation layer, and a protective layer. They are known for their simplicity in structure, lower investment costs, and ease of production. However, they pose a higher risk of leakage and have relatively lower safety standards. Despite these concerns, single-wall tanks hold the largest market share in 2024, with a value of $425.77 million USD, reflecting their widespread use due to cost-effectiveness.

Double-walled ammonia storage tanks consist of two walls with an insulation layer between them. The outer wall is typically made of ordinary carbon steel and does not come into direct contact with the storage medium, serving to protect the insulation layer. The inner wall, made of low-temperature resistant material, is in direct contact with the medium. This design enhances safety, as even if the inner wall leaks, the outer wall provides additional protection. Double-wall tanks require higher investment and are more difficult to manufacture, leading to higher costs. Despite the higher costs, the market for double-wall tanks is growing at a faster rate, with a value of $157.13 million USD in 2024, indicating a growing preference for enhanced safety in storage solutions.

In terms of market share, single-wall tanks dominate with a 73.04% share in 2024, while double-wall tanks capture the remaining 26.96%. However, the growth rate analysis reveals that double-wall tanks are projected to have a faster growth rate, suggesting a shift in market preference towards safer storage options.

	2024
Single-wall Tank	86.72%
Double-wall Tank	13.28%
Total	100.00%

The applications of ammonia storage tanks are diverse, with the chemical, agriculture, refrigeration, and energy sectors being the primary consumers. Each application has a unique requirement, influencing the market size and growth dynamics in 2024.

The chemical industry requires ammonia storage tanks for the storage and transportation of ammonia, a key chemical raw material used in the manufacture of various chemicals, including synthetic fibers. In 2024, the chemical application market share is 6.39% and is valued at 37.24 M USD.

Agriculture is the largest consumer of ammonia, primarily due to the use of ammonia in the production of fertilizers. With a market value of 293.17 M USD in 2024, agriculture accounts for the majority of the market share, 50.30%, highlighting the critical role of ammonia in global food production.

Ammonia is used as a refrigerant in refrigeration systems, especially in large-scale industrial applications. The refrigeration application has a market value of 96.57 M USD in 2024, market share is 16.57%, reflecting the growing need for efficient and environmentally friendly cooling solutions.

The energy sector uses ammonia storage tanks for storing ammonia as a fuel source for power generation. With a market value of 88.37 M USD in 2024, market share is 15.16%, the energy application is gaining traction as ammonia emerges as a potential renewable energy carrier.

While the agriculture sector has the largest market share, the energy application is projected to have the fastest growth rate, indicating a significant shift towards renewable energy solutions and the increasing use of ammonia in power generation.

	2024
Chemical	6.39%
Agriculture	50.30%
Refrigeration	16.57%
Energy	15.16%
Others	11.59%
Total	100.00%

The global ammonia storage tanks market is spread across various regions, with North America, Europe, China, Japan, and the rest of the world competing for market dominance in 2024.

North America leads the global market with the highest revenue, reflecting the region’s mature industrial base and strong demand for ammonia storage tanks across various sectors. The North American market is expected to be valued at $213.08 million in 2024, with a market share of 36.55%.

Europe follows closely with a market value of $123.72 million USD, with a market share of 21.22%, driven by the region’s robust chemical and energy industries.

China’s market is expanding rapidly, with a value of $111.85 million USD in 2024, with a market share of 19.19%, due to the country’s rapid industrialization and growing demand for ammonia in agriculture and energy sectors.

Japan holds a smaller but significant share with a market value of $36.93 million USD, with a market share of 8.51%, influenced by the country’s advanced chemical and electronics industries.

Among the regions, China is identified as the fastest-growing market, attributed to the country’s ongoing industrial expansion and increasing focus on renewable energy sources, including ammonia as a potential energy carrier.

In conclusion, the global ammonia storage tanks market is characterized by a diverse range of product types and applications, with distinct regional dynamics. Understanding these variations is crucial for stakeholders to navigate the market effectively and capitalize on emerging opportunities.

Global Ammonia Storage Tanks Market Share by Region in 2024

In the global Ammonia Storage Tanks market, the top three companies are Airgas Specialty Products, Chusheng and Shandong Zhongjie. Airgas Specialty Products, established in 1981 and headquartered in the USA, is a distributor of industrial chemicals and gases. The company specializes in providing anhydrous ammonia, aqua ammonia, and diesel exhaust fluid (DEF) for various applications, including nitrogen oxide abatement (DeNOx) within the utility industry, metal finishing, water treatment, chemical processing, and ammonia refrigeration. Airgas Specialty Products offers a range of storage tanks for both anhydrous and aqueous ammonia, with capacities ranging from 500 gallons to 30,000 gallons. They also provide vaporizing equipment, unloading stations, pumps, and telemetry. Airgas Specialty Products is projected to achieve a sales revenue of $42.08 million USD in 2024, with a market share of 7.22%, maintaining its position as a significant player in the global ammonia storage tanks market.

Chusheng, established in 2002 and headquartered in China, is a leading vehicle manufacturer specializing in pressure vessels, LPG Gas Tank Trucks, and various other vehicles and auto parts. Chusheng offers 125m3 ASME Liquid Ammonia Storage Tanks with capacities ranging from 10cbm to 125cbm. Their tanks are designed for efficient storage and transportation of liquid ammonia. Chusheng’s sales revenue for 2024 is forecasted to be $13.85 million USD, with a market share of 2.38%, indicating a steady growth in the ammonia storage tanks segment.

Shandong Zhongjie, founded in 2001 and based in China, is a high-tech enterprise engaged in the design and manufacturing of industrial boilers and pressure vessel products. Their product lineup includes insulated boiler products, vacuum thermal cryogenic pressure vessels, and more. Shandong Zhongjie specializes in liquid ammonia storage tanks, known for their technical advantages in material selection and manufacturing processes. They offer tanks with fully automatic shot blasting technology and high-quality paint applications for corrosion resistance. The company is expected to generate a sales revenue of $12.43 million USD in 2024, with a market share of 2.13%, reflecting its growing presence in the global market.