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Ammonia Market Outlook, Size, Share, Opportunity And Demand Analysis, Forecast To 2024

Author : Ronak Bora | Published Date : 2019-05-27 

Global Ammonia Market Forecast to 2024 released By Global Market Insights, Inc. provides market information about industry top key players, countries, type and application. This report also states company profile, sales, market revenue and price, market share, market growth and gross margin by regions, strategic recommendations for the new entrants, market forecasts for a minimum of five years of all the mentioned segments, sub segments and the regional markets.

Ammonia Market size is anticipated to witness a surge in demand due to rising product application in multiple downstream industries including agriculture, pharmaceuticals and consumer goods. Increasing utilization of ammonia particularly in the fertilizer industry will boost business growth. The product is even well recognized as the building block for the global nitrogen industry.

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Ammonia, a compound of nitrogen and hydrogen, is a colorless gas with a typically pungent smell. It is majorly used in manufacturing several industrial chemicals. The product is primarily used in the manufacturing of urea, ammonium phosphates and ammonium sulphate. Furthermore, it is used a crucial feedstock component to produce nitric acid, an important precursor for specialty organic compounds. Some of the crucial specialty organic compounds using the product includes adipic acid, toluene, nitrobenzene, ammonium nitrate and calcium nitrate. Thus, propelling the overall ammonia market growth.

Based on product type, ammonia market is categorized into aqueous and anhydrous types. Among these, anhydrous type is expected to witness largest growth over the forecast period owing to high availability in gaseous form for easy processing. In addition, features including low cost as compared to aqueous type will boost anhydrous segment demand in the overall ammonia market.

On application basis, the global ammonia industry is led by fertilizers amongst other categories including pharmaceuticals, food & beverages, textiles, industrial & household cleaning, water & wastewater treatment, metallurgical processes, pulp & paper, leather and rubber. The product is majorly used in the agricultural industry in the form of fertilizers as it is well recognized as a key source of nitrogen, that is an essential element for plant growth. It is even used in the production of several liquid fertilizer solutions that consist of aqua ammonia, ammonium nitrate and urea. Increasing suitability to provide improved soil texture & structure in form of fertilizers is anticipated to boost the global ammonia market size.

Asia Pacific led the global ammonia market in 2016 by becoming the largest producer as well as consumer. In China, the product is primarily produced from coal gasification, however globally it is majorly produced from natural gas resources. In terms of productivity, China is followed by India and Indonesia owing to significant increase in their production capabilities in recent years.

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North America is one the major producer in the global ammonia market. The U.S. had over 15 global companies that produced the compound in their 22 manufacturing facilities in 2016. About 45% of the product in the country is consumed in further production of nitrogen fertilizers. The remaining capacity is used for producing synthetic fibers resins, plastics and several chemical compounds. As natural gas covers over 50% of the nitrogen fertilizer production cost, the availability of low-priced natural gas in the country is anticipated to be a key factor for product penetration in the region.

Some of the key industry players in market includes Yara International, Koch Fertilizer, CF Industries, Jiangsu Huachang Chemical, Orica, BASF, Incitec Pivot, SABIC, Linde Group, China National Petroleum Corporation and Trammo. Other prominent participants are Haldor Topsoe, OCI Nitrogen, Dow Chemical, Achema, Praxair, Mitsubishi Gas Chemical, Potash Corp, Haifa Chemicals, Group DF, Agrium, Togliattiazot and CSBP.


About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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