Ammonia Market Expected To Grow At A CAGR Of 4.60% By 2030 |


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According to the ChemAnalyst report, “Analysis of the ammonia market: plant capacity, production, operating efficiency, demand and supply, end use, distribution channel, region, competition, trade, intelligence market analysis Customer and Price, 2015-2030 ”, the ammonia market has witnessed significant growth as it reached 11.38 million tonnes in 2020 and is expected to reach a healthy global CAGR of 4.60% during the forecast period until 2030. With the increasing use of ammonia by the agricultural industry, as it is heavily used in fertilizers, it is expected to thrive. the ammonia market across the world over the next few years. However, the dangerous effects of ammonia in its concentrated form may somehow hamper the growth of the market in the years to come.

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Ammonia referred to by its molecular formula NH3 is an organic compound made up of nitrogen and hydrogen. It is a colorless, very reactive and soluble gas with a pungent odor. Ammonia is considered a basic chemical element and a key component widely used in the manufacture of everyday products. Naturally, ammonia is present in plants, soil, air, water, animals and humans. Global production of ammonia takes place on a large industrial scale by steam reforming natural gas, which is converted into liquefied petroleum gas, or petroleum naphtha to produce hydrogen, which is further combined with nitrogen to produce ammonia through the Haber-Bosch process.

Ammonia is considered to be an important chemical that can be used in a variety of industries and for many different purposes. Ammonia is used as a fuel in power generation and engines, a key chemical raw material, the main ingredient in cleaning products, and a refrigerant for cooling systems. It is widely used in a wide range of applications, including pesticides, fertilizers, explosives, refrigerant gases, plastics, textiles, dyes, sewage treatment, leather, rubber, paper and others. One of the main end uses of ammonia is as a fertilizer. About 80% of industrially produced ammonia is used in agriculture as a fertilizer which helps to increase the levels of essential nutrients, like zinc, selenium, boron, etc. Ammonia is widely used in household cleaning applications as a cleaning agent for removing stains or cleaning mirrors, bathtubs.

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The global ammonia market is segmented on the basis of type, end use, sales channel, and region. Based on type, the global ammonia market is segmented into liquid and gas. Ammonia in liquid form dominates the world market as it is widely used in household cleaning and fertilizer applications. On the basis of end-use industries, the global ammonia market is divided into agriculture, pharmaceuticals, textiles, mining, refrigeration, and others. The agricultural industry has dominated the global ammonia market during the historical period and is expected to maintain its dominance during the forecast period up to 2030. The increasing demand for nitrogen fertilizers due to its advantages in the agricultural sector is likely to accelerate the ammonia market across the world in the next few years. The increasing demand for ammonia for refrigeration due to the increasing consumption of frozen foods and fresh meat products is expected to increase the growth of the ammonia market in the coming years. The growing demand for ammonia by the pharmaceutical industry in emerging countries like China and others will further propel the global ammonia market in the future.

At the onset of COVID-19, in 2020, the global ammonia market was affected due to a variety of factors including strict social distancing standards and nationwide lockdowns in emerging and industrialized economies around the world. . Several end-user industries, including agriculture, automobiles, textiles and others that largely consume ammonia, have experienced severe declines. However, the refrigeration and pharmacy sector saw a positive impact in the first half of 2020. There has been an increase in demand for perishables, meat products and frozen foods during the covid period, which further increased the need for ammonia for use in refrigeration, thus driving its demand.

Among the various regions, APAC region dominated the global ammonia market during the historical period and is expected to maintain its dominance over the next ten years until 2030. Exponentially increasing demand for ammonia for agricultural activities large-scale in emerging countries including China, India and others dominate the APAC region. The increasing demand for ammonia by the pharmaceutical industry in the Asia-Pacific region will further increase the ammonia market globally in the future.

Ammonia Market Analysis: Factory Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer Intelligence Market Analysis and Price , 2015-2030 “, some of the major players operating in the ammonia market include BASF SE, Nutrien Ltd., Rashtriya Chemicals and Fertilizers Limited (RCFL), Praxair Technology, Inc., EuroChem Group, SABIC, CF Industries Holdings, Inc., Koch Fertilizer, Yara International ASA, China National Petroleum Corporation, LLC, Qatar Petroleum and others.

“The increasing demand for nitrogen fertilizer due to its many advantages of thriving agricultural industry is likely to boost the global ammonia market during the forecast period up to 2030. Due to the epidemic of COVID-19, there has been a substantial increase in demand for frozen foods and meat products, which has led to the need for ammonia for refrigeration purposes, particularly in Europe, North America and Asia . The growing demand for ammonia for large-scale agricultural activities in the Asia-Pacific region will drive the global ammonia market in the coming years. The increasing demand for ammonia by the pharmaceutical industry in emerging countries like China and others will further increase the global ammonia market in the future. Said Mr. Karan Chechi, Research Director at TechSci Research, a research-based management consulting firm that promotes ChemAnalyst around the world.

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