Fior Markets launched a study titled “Global Ammonia Market by Product Form (Liquid, Gas, Powder), Application (Fertilizers, Textile, Pharmaceuticals, Others), Regions”,and Global Forecast 2018-2025.
The global ammonia market is expected to grow from USD 52.71 Billion in 2017 to USD 81.42 Billion by 2025, at a CAGR of 5.59% during the forecast period from 2018-2025. Increasing demand for the nitrogenous fertilizers coupled with growing requirement for zero ozone layer depletion potential refrigerants are driving the market growth.
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Liquid form segment had a market value of USD 25.20 billion in 2017
Product form is segmented into liquid, gas and powder. Due to wide ranging utilization of liquid ammonia in fertilizer and various end industries, liquid form segment emerged as the leading segment with USD 22.09 billion revenue in 2017. Gas form segment is also projected to attain a healthy market share over the forecast period.
Refrigerant segment is anticipated to grow at a CAGR of 7.67% in 2018-2025
Application segment is divided into fertilizers, refrigerants, pharmaceuticals, textiles and others. On account of its property for releasing nitrogen when in contact with soil, ammonia is widely used as a fertilizer in the agriculture sector. Thus global emphasis on raising the farm productivity led fertilizer segment to emerge as the dominating segment with USD 22.09 billion revenue in 2017. Ammonia has0 emerged as the preferred refrigerant owing to its high efficiency and better heat transfer properties coupled with its zero ozone depletion potential. Thus refrigerant segment is projected to grow at the highest CAGR of 7.67% over the forecast period.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa.Rising demand for the fertilizers from the farm sector and presence of major end user industries such as pharmaceuticals, textiles propelled Asia Pacific region to dominate global ammonia market with USD 20.69 billion revenue in 2017. Owing to its well established and highly productive farm sector North America region held a robust market share in 2017.
Increasing demand for nitrogenous fertilizers and eco-friendly refrigerants are driving the global demand for the ammonia. Whereas volatility in prices of the natural gas, an important raw material as well as concerns related to production overcapacity are anticipated to hamper the market growth.
Key players in the global ammoniamarket are BASF SE, CF Industries Holdings, Inc., PotashCorp, HuaqiangChem Group, Shanxi Jinfeng Coal Chem,Rashtriya Chemicals & Fertilizers Ltd., China Petroleum & Chemical Corporation, China National Petroleum Corporation,Yara International, Orica Limited, Praxair, Inc, Achema AB, Linde Group, Haifa Chemicals Ltd, HaldorTopsoe, Koch Fertilizer LLC among others.
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