Covina, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Ammonia a colorless irritating gas highly soluble in water with sharp suffocating odor occurs naturally throughout the surroundings in the air, soil and water and in plants and animals, as well as human being.
Growing agricultural sector across globe coupled with rising demand for ammonium nitrate fertilizers has become major contribution in target market growth. Further, use of ammonia as a raw material for the preparation of nitric acid which is used in the formation of plastics and fertilizers is another factor that is helping to flourish the target market growth. Furthermore, rising demand for organic fertilizers in various countries across globe is expected to provide lucrative opportunities in Ammonia market growth over the forecast period.
Key Highlights:
- In October 2022, KBR launched new ‘Ammonia 10,000’ with MTPD blue and green. The new launched product is developed to meet rising global sustainable energy and fertilizer demand from agricultural sector.
Analyst View:
Growing need for ammonia from fertilizer-company has given positive impact on target market growth. The use of ammonia as a refrigerant gas for purification of water supplies and in manufacturing textiles, plastics, pesticides, explosives, dyes and other chemicals is likely to propel Ammonia market growth.
Detailed Segmentation:
Report Scope:
| Attribute | Details |
| Base year for estimation | 2020 |
| Forecast period | 2020 – 2030 |
| Market representation | Revenue in USD Million & CAGR from 2020 – 2030 |
| Market Segmentation | By Product- Liquid, Gas, Powder By Application– Fertilizers, Refrigerants, Pharmaceuticals, Textile, Others |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Competitive Landscape & their strategies of Global Ammonia Market:
The key players operating in the ammonia market are
- BASF SE
- Agrium, Inc.
- Koch
- Nitrogen Company
- CF Industries, Inc.
- Potash Corporation of Saskatchewan, Inc.
- Rashtriya
- Chemicals & Fertilisers Ltd.
- Shandong Lianmeng Chem Group
- Koch Industries, Inc.
- EuroChem Group AG
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Key Trends and Opportunistic Frontiers:
- Green Ammonia Production: The growing emphasis on sustainable and environmentally friendly practices is driving the production of green ammonia, which is made using renewable energy sources. This trend offers opportunities for reducing the carbon footprint of ammonia production.
- Hydrogen Economy Integration: Ammonia is gaining attention as a carrier for hydrogen, which can be used in fuel cells and as an energy storage medium. This integration presents new prospects for the ammonia market, especially in the context of the emerging hydrogen economy.
- Ammonia as a Sustainable Fertilizer: The agriculture industry is increasingly looking for sustainable and efficient fertilizers. Ammonia is a vital component in this sector, and innovations in its application methods and formulations can lead to growth opportunities.
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