Ammonium Chloride Market Size To Attain USD 2.24 Bn by 2033

The global ammonium chloride market size surpassed USD 1.49 billion in 2023 and is projected to hit around USD 2.24 billion by 2033, growing at a CAGR of 4.14% from 2024 to 2033.

Key Takeaways

• Asia Pacific held the largest market share of 51% in 2023.
• North America is poised to be the second-largest position holder in the market over the forecast period.
• The agriculture grade segment held the highest market share of 28% in 2023
• The food grade segment is anticipated to witness rapid growth at a significant CAGR of 4.9% during the projected period.
• The fertilizer segment held 24% of the market share in 2023.
• The medical/pharmaceutical segment is anticipated to witness rapid growth of 3.5% over the projected period.

The Ammonium Chloride Market is witnessing steady growth globally, driven primarily by its diverse applications across various industries. Ammonium chloride, a white crystalline salt, finds extensive usage in agriculture, pharmaceuticals, food, textiles, and chemical sectors. Its versatile properties, including solubility in water, hygroscopic nature, and ability to act as a nitrogen source in fertilizers, contribute significantly to its market demand.

Growth Factors:

Several factors contribute to the growth of the Ammonium Chloride Market. The increasing demand for fertilizers to enhance agricultural productivity serves as a major growth driver. Additionally, the expanding pharmaceutical and chemical industries, where ammonium chloride is used as a precursor in various processes, further fuel market growth. Moreover, the rising adoption of ammonium chloride in water treatment applications for controlling pH levels also contributes to market expansion.

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Asia Pacific Ammonium Chloride Market Size in 2024 To 2033

The Asia Pacific ammonium chloride market size was estimated at USD 530 million in 2023 and is expected to be worth around USD 810 million by 2033, poised to grow at a CAGR of 4.33% from 2024 to 2033.

The Ammonium Chloride Market exhibits a global presence, with key regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific dominates the market share owing to the significant agricultural activities in countries like China and India. Moreover, rapid industrialization and increasing pharmaceutical manufacturing activities in the region further boost market growth. North America and Europe also hold substantial market shares due to their robust chemical and pharmaceutical sectors.

Opportunities:

The Ammonium Chloride Market presents numerous opportunities for growth and innovation. With the escalating demand for specialty chemicals and pharmaceuticals, there's a growing need for high-purity ammonium chloride, opening avenues for market players to diversify their product portfolios. Moreover, the increasing focus on sustainable agriculture practices presents opportunities for the development of eco-friendly fertilizers, leveraging the unique properties of ammonium chloride.

Challenges:

Despite the favorable market conditions, the Ammonium Chloride Market faces certain challenges. Fluctuating raw material prices, particularly those of ammonia and hydrochloric acid, pose a significant challenge to manufacturers, impacting production costs and profitability. Additionally, stringent regulatory policies regarding the usage and disposal of ammonium chloride in various industries can hinder market growth. Furthermore, environmental concerns related to the use of ammonium chloride in fertilizers may lead to regulatory restrictions, posing challenges to market expansion.

?Recent Developments

• In March 2023, Yara Clean Ammonia and Enbridge Inc. penned a letter of intent to collaboratively develop and build a low-carbon blue ammonia production plant in Texas, USA. The facility, anticipated to have a capacity ranging from 1.2 to 1.4 million tons per annum, will employ auto-thermal reforming coupled with carbon capture technology. Its objective is to address the increasing global demand for low-carbon ammonia. Subject to approval, the project entails an investment ranging between $2.6 and $2.9 billion.
• In May 2022, BASF unveiled the expansion of its Automotive Coatings Application Center in Mangalore, India. The facility has been meticulously designed to facilitate customer-centric R&D operations and provide an authentic simulation of OEM paint shops.

Ammonium Chloride Market Companies

• BASF SE (Germany)
• The Dallas Group of America (U.S.)
• Central Glass Co., Ltd (Japan)
• Tuticorin Alkali Chemicals And Fertilizers Limited (India)
• Tinco Chemicals Private Limited (India)
• Hubei Yihua Chemical Industry Co Ltd (China)
• Jinshan Chemical (China)
• CNSG (China)
• HEBANG (China)
• Tianjin Bohua YongLi Chemical (China)
• Shannxi Xinghua (China)
• Shijiazhuang Shuanglian Chemical (China)
• Liuzhou Chemical (China)
• Hangzhou Longshan Chemical (China)
• Sichuan Guangzhou (China)
• Guangyu Chemical Co Ltd (China)
• Shanxi Yangmei Fengxi Fertilizer Industry (Group) Co., Ltd (China)
• YNCC (South Korea)

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