Ammonia Market is Increasing Applications in Pharmaceuticals and Expected Huge Growth Over 2030

Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Ammonia Market.

Market Synopsis

Ammonia is primarily made of nitrogen and hydrogen. It holds a high value in term of its nutrient content and is used across several industries. The market for ammonia is likely to gain traction over the next couple of years according to the report published by Market Research Future (MRFR). The report suggests that the global ammonia market is anticipated to strike a CAGR of 6.64% during the forecast period 2022 to 2030.

Ammonia plays a significant role in the fertilizer industry and is in excessive demand across the agriculture sector.  The rising demand for food cultivation owing to the exponential increase in population is projected to drive the growth of the ammonia market. Ammonia used in fertilizers ensure minimum or no wastage of crops while enhancing productivity. This, in turn, is further expected to propel the expansion of the market in the years to come.

Governments are taking initiatives for optimizing the production levels in the agriculture sector which has unleashed developmental opportunities to the ammonia market. It is poised to boost the growth pattern of the market in the foreseeable future. Developing economies signify vast opportunities led by shifts in agriculture towards modernization. Countries such as India, Brazil, Indonesia are expected to contribute significantly owing to increasing investments in the fertilizer industry.

Ammonia is an important nutrient and has developed different applications across different industries such as pharmaceuticals, refrigerants, etc. Rising applications in different domains is anticipated to support the growth and expansion of the ammonia market over the assessment period. On the flip side, the stringent laws imposed for containing the adverse effects of chemicals and gases from industries are projected to hinder the proliferation of the ammonia market in the nearby future.

Market Segmentation

By form, the global ammonia market has been segmented into liquid and powder.

By application, the ammonia market has been segmented into fertilizers, pharmaceuticals, refrigerants, household, food, and others. Among these, the fertilizers segment is projected to exhibit substantial growth owing to the increasing production of food crops all over the world. Also, the pharmaceuticals segment is expected to scale a decent growth pace over the next couple of years.

Competitive Dashboard

This MRFR report offers a detailed key players’ share analysis in the global ammonia market. The prominent players profiled for the purpose are BASF, Yara International, Potashcorp, CF Industries, Togliatti, Group DF, OCI Nitrogen, Sabic, Agrium and Koch Fertilizer.

Regional Analysis

By region, the global ammonia market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific is expected to dictate the growth pattern of the global market owing to the exponential increase in demand for food crops. The region houses 60 to 65% of the global population which is responsible for its high agriculture demand. This, in turn, is anticipated to push the expansion of the ammonia market in the region. Also, the region is likely to observe rapid developments in the pharmaceutical industry. The increasing application of ammonia in the pharmaceutical industry is projected to catapult the ammonia market in the region on an upward trajectory.

Industry News

• May 2019, Russia-based Acron has invested RUB 3.4 Bn for the upgrade of operating ammonia facility and the development of a phosphate fertilizer production unit at Dorogobuzh.

• In April 2019, KBR, a global provider of differentiated professional services and technologies, has announced the launch of Ammonia 6000™ on the basis of its Purifier™ based ammonia technology.

• In January 2019, KuibyshevAzot” PJSC, one of the leading chemical companies in Russia, has initiated its large-scale plan of the modernization of its ammonium nitrate plant.

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