DUBLIN--(BUSINESS WIRE)--The "Ammonia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global ammonia market reached a value of US$ 71.34 billion in 2021. Looking forward, the market is projected to reach a value of US$ 100.17 billion by 2027, exhibiting a CAGR of 5.60% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.
Ammonia finds extensive applications across numerous industries, including agriculture, textile, food and beverage (F&B), pharmaceuticals, water and wastewater treatment, rubber, paper, and chemicals.
Ammonia Market Trends
The rising need for agricultural chemicals like fertilizers to improve farm yield and meet the escalating demand for food represents the primary factor driving the growth of the market. Moreover, ammonia can quickly absorb heat from the surroundings, filter impurities, and purify liquid mediums without causing any negative environmental impacts.
As a result, ammonia is rapidly gaining traction as a purifying agent in water treatment plants and refrigerant in heating, ventilation and air conditioning (HVAC) systems. Besides this, the growing usage of ammonia to manufacture commercial explosives, such as trinitrotoluene [TNT], nitroglycerin, and nitrocellulose, is augmenting the product demand.
Additionally, ammonia is employed as a catalyst to fabricate synthetic resins and for dyeing and scouring silk, cotton and wool. This, in confluence with the rising product utilization in the production of plastics and synthetic fibers, such as nylon and rayon, is catalyzing the market growth.
Furthermore, the increasing applications of ammonia in household cleaning agents and various metallurgical processes like the nitriding of alloy sheets to harden their surfaces are accelerating product adoption rates.
Other factors, including the expanding agriculture industry, shifting focus toward energy consumption systems, emerging industrial applications, growing population and rapid urbanization, are also creating a positive market outlook.
Key Questions Answered in This Report
- How has the global ammonia market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global ammonia market?
- What are the key regional markets?
- What is the breakup of the market based on the physical form?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the End-use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global ammonia market and who are the key players?
- What is the degree of competition in the industry?
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Achema AB
- BASF SE
- CF Industries Holdings Inc.
- Koch Industries Inc.
- Linde plc
- Nutrien Ltd
- OCI N.V.
- Orica Limited
- PJSC Togliattiazot
- Saudi Basic Industries Corporation
- Yara International ASA
Key Market Segmentation
Breakup by Physical Form:
- Liquid
- Powder
- Gas
Breakup by Application:
- MAP and DAP
- Urea
- Nitric Acid
- Ammonium Sulfate
- Ammonium Nitrate
- Others
Breakup by End-use Industry:
- Agrochemical
- Industrial Chemical
- Mining
- Pharmaceutical
- Textiles
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/s4we3n
