Ammonia Market is Expected to Grow at a CAGR of 4.60% by 2030

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Ammonia Market is Expected to Grow at a CAGR of
4.60 by 2030
According to ChemAnalyst report, Ammonia Market
Analysis Plant Capacity, Production, Operating
Efficiency, Demand Supply, End Use,
Distribution Channel, Region, Competition,
Trade, Customer Price Intelligence Market
Analysis, 2015-2030, Ammonia market has
witnessed significant growth as it reached 11.38
million tonnes in 2020 and is anticipated to
achieve a healthy global CAGR of 4.60 in the
forecast period until 2030. With the increasing
utilization of Ammonia by the agriculture
industry as they are highly used in fertilizers
is expected to flourish the Ammonia market
across the globe in the next few years. However,
the hazardous effects of ammonia in its
concentrated form can somehow hinder the market
growth in upcoming years. Ammonia referred by
its molecular formula NH3 is an organic compound
consisting of Nitrogen and Hydrogen. It is a
colorless, highly reactive, and soluble gas with
a pungent smell. Ammonia is considered as a
building-block chemical and a key component
widely used in the manufacturing of day-to-day
products. Naturally Ammonia is present in plants,
soil, air, water, animals and humans. The global
production of Ammonia is done on a large
industrial scale by the steam reforming of
natural gas, which it is converted into liquified
petroleum gas, or petroleum naphtha
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to produce hydrogen, which is further combined
with nitrogen to produce Ammonia through the
Haber-Bosch process. Read Full Report Here
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a-market-631 Ammonia is considered an important
chemical which can be used in various sectors and
for many different purposes. Ammonia serves as a
fuel in energy production and engines, a key
feedstock chemical, the main ingredient for
cleaning products, and a refrigerant for cooling
systems. It is extensively used in a wide of
applications including pesticides, fertilizers,
explosives, refrigerant gas, plastics, textiles,
dyes, wastewater treatment, leather, rubber,
paper, and others. One of the major end-uses for
Ammonia is fertilizers. About 80 of the
industrially produced ammonia is utilized in
agriculture as fertilizers which helps in
increasing the essential nutrient levels, like
zinc, selenium, boron, etc. Ammonia is widely
used in the household cleaning applications as a
cleaning agent for the removal of stains or clean
mirrors, tubs. Global Ammonia Market is segmented
on the basis of type, end-use, sales channel and
region. Based on the type, the global Ammonia
market is segmented into liquid and gas. Ammonia
in the liquid form dominates the global market
as it is highly used in household cleaning
applications and fertilizers. On the basis of
end-use industries, the global Ammonia market is
segregated into agriculture, pharmaceutical,
textiles, mining, refrigeration, and others. The
agriculture industry dominated the global
Ammonia market in the historic period and is
expected to maintain its dominance in the
forecast period until 2030. Surging demand of
Nitrogen fertilizer due to its advantages in the
agricultural sector is likely to accelerate the
Ammonia market across the globe in the next few
years. Rapidly increasing demand of Ammonia for
the refrigeration owing to the rising
consumption of frozen food, and fresh meat
products, is projected to augment the market
growth of Ammonia in upcoming years. Increasing
demand of Ammonia by the pharmaceutical industry
in emerging countries like China and others will
further propel the global Ammonia market in the
future. Read Free Request Sample
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m On the start of COVID-19, in 2020, the global
market of Ammonia was adversely affected due to
various factors including strict social
distancing norms and countrywide lockdowns in
emerging as well as industrialized economies
around the world. Several end-user industries
including agriculture, automobile, textiles and
others that largely consumes Ammonia witnessed a
severe decline. However, the refrigeration and
pharmaceutical sector witnessed a positive impact
in the first half of 2020. there was a surge in
the demand of perishable goods, meat products and
frozen
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foods during the covid times which further
propelled the need for ammonia to use in
refrigeration, thereby driving its demand. Among
different regions, APAC region dominated the
global market of Ammonia in the historic period
and is forecasted to maintain its dominance in
the next ten until 2030. Exponentially rising
demand of Ammonia for large-scale agricultural
activities in Emerging countries including China,
India, and others is leading the dominance in
the APAC region. Growing demand of Ammonia by
the pharmaceutical industry in the Asia Pacific
region will further augment the Ammonia market
worldwide in the future.
Ammonia Market Analysis Plant Capacity,
Production, Operating Efficiency, Demand
Supply, Application, End Use, Distribution
Channel, Region, Competition, Trade, Customer
Price Intelligence Market Analysis, 2015-2030,
some of the major players operating in 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. Rapidly growing demand of Nitrogen
fertilizer due to its numerous advantages from
the flourishing Agriculture industry is likely
to boost the global Ammonia market in the
forecast period until 2030. Due to the outbreak
of COVID-19, there was a substantial increase in
the demand of frozen food and meat products,
which led to the need of Ammonia for the
refrigeration purpose especially in Europe, North
America and Asia. Rapidly increasing demand of
Ammonia for large-scale agricultural activities
in the Asia Pacific region will boost the global
Ammonia market in the upcoming years. Rising
demand of Ammonia by the pharmaceutical
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industry in emerging countries like China and
others will further augment the global Ammonia
market in the future. said Mr. Karan Chechi,
Research Director with TechSci Research, a
research-based management consulting firm
promoting ChemAnalyst worldwide. Report
Scope In this report, Ammonia market has been
segmented into following categories, in addition
to the industry trends which have also been
detailed below
Attribute Details
Market size volume in 2020 11.38 million tonnes
Growth Rate CAGR of 4.60 from 2021 to 2030
Base year for estimation 2020
Historic Data 2015 2019
Forecast period 2021 2030
Quantitative units Revenue in USD million/billion and CAGR from 2021 to 2030
Report coverage Revenue forecast, demand supply, competitive analysis, competitive landscape, growth factors, and trends
Segments covered By Type (Liquid and Gas, and Others) By End-Use (Agriculture, Textiles, Pharmaceutical, Household Cleaning, Refrigeration, and Others) Sales Channel (Direct Company Sale, Direct Import, Distributors Traders)
Regional scope North America Europe Asia Pacific South America Middle East Africa
Country scope United States Mexico Canada China India Japan South Korea Taiwan Singapore Germany Belgium France United Kingdom Spain Italy Sweden Austria Saudi Arabia Iran South Africa Brazil Argentina
Key companies profiled 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, BASF SE, LLC, Qatar Petroleum, Nutrien Ltd., and Others, and Others.
Customization scope Free report customization with purchase. Addition or alteration to country, regional segment scope.
Pricing and purchase options Avail customized purchase options to meet your exact research needs. Explore purchase options
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