From 2013 to 2023, there has been an overall upward trend in the import of anhydrous ammonia to India, culminating at 2.8761 billion kilograms in 2023. Year-on-year variations indicate considerable volatility, particularly in 2018 with a 10.75% increase and 2020 with a 14.77% decrease. Comparatively, the last two years showcased a modest growth with 2.45% in 2022 and 2.35% in 2023. Over the past five years, the compound annual growth rate (CAGR) averaged 2.1%.
Future trends to watch for include:
- Expected steady growth continuing into 2028, driven by demand expansion in agriculture and industrial applications.
- A forecasted 5-year CAGR of 1.78% suggesting a more stable market environment.
- Potential impacts of global supply chain disturbances and domestic policies on import volumes.