The Ammonia Market across the globe is expected to experience a surging demand, mainly owing to the soaring product application across multiple downstream industries, which includes pharmaceuticals, agriculture, and consumer goods. The rising use of Ammonia, especially in the fertilizer industry, will augment the business growth in the coming years. The Global Ammonia Market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 5.85%, surpassing a valuation of USD 70.75 billion during the forecast period (2013-2025).
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The market is estimated to expand at a faster rate due to the growth in population and rising disposable income across several countries. This has resulted in increased demand for agricultural products to enhance lifestyle, thereby propelling the market growth in the years to come. Moreover, the shift in dietary consumption is one of the primary growth stimulants of the market. In addition, the surging demand for ammonia from the pharmaceutical industry will elevate the market growth in the coming years.
On the contrary, the rising use of ammonia-based fertilizers, especially urea in the agricultural segment has resulted in increased emissions of Ammonia. This has an adverse impact on the environment across the globe. The increased emissions have resulted in the need to set up mandates against agriculture emissions under the Clean Air Act (CAA). These factors are likely to vitiate the market growth in the foreseeable future.
On August 2019, a team of researchers at the University of Delaware demonstrated a direct ammonia fuel cell prototype, which employs a high-temperature-stable hydroxide exchange membrane and an ammonia-tolerant precious-metal-free cathode catalyst.
The Top Players Operating in the Ammonia Market include Yara, Nutrien Ltd, Group DF, OCI NV, CF Industries Holdings, Inc, SABIC, EuroChem Group AG, Orica Limited, Acron Group, AB “Achema, Uralchem JSC, IFFCO, Togliattyazot, Koch Fertilizer, LLC, and Qatar Fertiliser Company.
Global Ammonia Market: Segmental Analysis
The Ammonia Market has been segmented based on Form and Application.
By Form, the Ammonia Market is segmented into powder, liquid, and gas. Of these, the liquid segment commands the largest market share of 43.14%, mainly due to the soaring demand for liquid ammonia, especially in applications like refrigerants, fertilizers, and chemicals.
The Application Segment includes chemicals, fertilizers, fibers and plastics, refrigeration, pulp and paper, pharmaceutical, and others. The soaring need to propel agricultural productivity has resulted in high demand for Ammonia in the fertilizers’ segment. Fertilizers are considered plant nutrients, which are highly required for plant growth. Ammonia is extensively used in fertilizers, and its use is predicted to increase in the coming years.
Geographically, the Ammonia Market spans across Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, the Asia Pacific commanded the largest market share of 53% in 2017 and is estimated to register the highest CAGR in the foreseeable future. The growth can be credited to the soaring demand for Ammonia in the production of fertilizers, especially in countries like China, India, Indonesia, and Thailand. With the growth in population, especially in countries like India and China, the agricultural activities have increased, thereby resulting in increased consumption of Ammonia-based fertilizers. The demand for Ammonia is also increasing from industries like paper and pulp, pharmaceutical, petroleum, and food. This has further influenced the market growth in the region.
North America will register the second highest CAGR 5.37% and is estimated to surpass a valuation of USD 10,141.9 million by the end of 2025. In this region, the U.S. is estimated to be the major contributor and accommodates around 25 production plants.
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