Ammonia Market Size, Share to Grow at a CAGR of 7.22% by 2030 | ChemAnalyst

According to the ChemAnalyst report, “Global?Ammonia Market?Analysis: Plant Capacity, Production, Operating Efficiency, Foreign Trade, Demand & Supply, End-User Industries, Sales Channel, Company Share, Regional Demand, 2015-2030”, The Ammonia market will likely face a significant increase by reaching 310 million tonnes in 2030, at a CAGR of 7.22% in the upcoming years. The demand for Ammonia will most probably increase in the forthcoming years because of the rising demand from end-use industries such as Agriculture, Fertilizers, Textiles, Pharmaceuticals, Explosives, Refrigeration, and Others.

Ammonia is an inorganic compound with the chemical formula NH3. Ammonia is a colourless gas with a strong characteristic odour. It is mainly obtained from Haber’s process by treating hydrogen with atmospheric nitrogen in the presence of a catalyst. Ammonia is a popular chemical for different industries and is a primary nitrogen source. Ammonia is used in fertilizers, air condition refrigeration, plastics, detergents, explosives, pesticides, etc.

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The use of Ammonia in agriculture and fertilisers is what essentially drives the market for it internationally. This sector accounted for more than 60% of the global ammonia market in 2021. The agricultural industry is where nitrogenous fertilisers are most commonly used. Sales of fertilisers are anticipated to rise in the forthcoming years due to the growing global population and increased food production. The Ammonia Market is anticipated to further swell up by the use of Ammonia in the pharmaceutical industry as a respiratory stimulant, and for the manufacture of medications Ammonium hydroxide, a common active ingredient in cleaning and disinfection solutions also requires Ammonia as a raw material, which is anticipated to further contribute the market growth in the forecast period. Ammonia is commonly added to chlorine in municipal water treatment systems to enhance chlorine’s ability to disinfect water.

The Ammonia market is segmented on end-use, sales channel, and region. Based on end-uses, the Global Ammonia market is segregated into industries such as Agriculture & Fertilizers, Textiles, Pharmaceutical, Explosives, Refrigeration, and Others. The Agriculture and Fertilizers industry dominates the Ammonia market around the globe. It will likely stay the most significant end-user industry during the forecast period, owing to the high demand for fertilizers for the production of crops in the forecast period.

The Asia Pacific is the leading consumer of Ammonia among all other regions, which anticipates that it will continue to maintain its dominance during the forecast period. Due to the growing demand for Ammonia in the Agriculture and Fertilizer industry, the demand for Ammonia in APAC is anticipated to expand further. Currently, China is the leading producer as well as consumer of Ammonia. This Asia Pacific region is expected to grow production per the rising demands.

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?“Global Ammonia Market Analysis: Plant Capacity, Production, Operating Efficiency, Foreign Trade, Demand & Supply, End-User Industries, Sales Channel, Company Share, Regional Demand, 2015-2030”,?the significant players functional in the Global Ammonia market include are CF Industries, Nutrien, Jinmei Group, Yihua Group, Qatar Fertilizer Co (QAFCO), PetroChina Group, TogliattiAzot, EuroChem Group, Acro Group, Yangmei Group, Parsian Oil and Gas Development Group Co., and?Indian Farmers Fertiliser Co-operative Limited (IFFCO).

“The rapidly increasing demand for Ammonia is due to its huge usage Agriculture & Fertilizer industry for manufacturing nitrogen-based fertilizers, which is expected to boost the Ammonia market in the forecast period until 2030. In the next years, there will be a rise in population across the globe, creating a huge demand of crops that will swell the demand of Ammonia in the forecast period. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.