Global ammonia market is expected to reach USD 81.42 Billion by 2025, at a CAGR of 5.59% from 2018 to 2025. Rising demand for the nitrogenous fertilizers, as well as environmentally sustainable and eco-friendly refrigerants, are driving the market.
Ammonia is a compound made up hydrogen and nitrogen with the formula NH3. It is a colorless gas with a distinctive pungent smell. Ammonia forms a building block in the synthesis of many important days to day products such as common cleaning products, pharmaceuticals, etc. Ammonia is the most important raw material for the manufacturing of ammonium nitrate, a commercially important fertilizer. Increasing global focus on raising farm productivity is driving the demand for the ammonium nitrate. ThThe refrigerantus the glothe bal ammonia market is anticipated to witness an upward growth over the forecast period.
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- The base year for the study has been considered 2017, the hisRestraintstoric year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The global ammonia market is analyzed by value (USD Billion) and volume (Kilotons)
- The study delivers a comprehensive analysis of global ammonia market by product form, application, and regions. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the global ammonia market. This report incorporates the industry analysis which is focused on providing an extensive view of the ammonia market.
- The study also includes attractiveness analysis of product form, application, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the ammonia market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Increasing demand for nitrogenous fertilizers
- Rising need for eco-friendly refrigerants
- Growing preference for organic farming
- Fluctuations in ammonia prices
- Increasing focus on improving farm productivity
- Increasing utilization in pharmaceutical synthesis
- Volatility in natural gas prices
- Production overcapacity
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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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