Pune, India, June 06, 2019 (GLOBE NEWSWIRE) -- Ammonia Market got a significant boost by a CAGR of 5.85% and is anticipated to achieve USD 70.75 billion by the end of 2025. This research report has been published by Market Research Future that also states that several key players are actively and positively functioning for leading the fastest market growth along with a handsome amount of share across the globe.
Ammonia is considered as a colorless alkaline gas which is produced by combining nitrogen and hydrogen in the ratio 1:3 and is characterized by a pungent odor. Ammonia gas is toxic and can lead to the annoyance for the skin, eyes, nose, throat, and lungs when in contact. It has countless industrial applications in refrigerants, household, fertilizers, pharmaceuticals, food, and others. The majority of ammonia produced is used for the production of fertilizers and synthesis of chemicals such as nitric acid and hydrogen cyanide.
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The grossing factors that kept the Global Ammonia Market to expand at a fast pace are accounted to be the increasing population, rising disposable income, mainly in developing regions that are triggering the demand for agricultural products. Also, there has been a significant shift in dietary consumption, which is altogether fueling up the Global Ammonia Market during the forecast period. Globally, the demand & supply ratio of ammonia is also projected to move the market toward surplus way and fostering the market to grow at a considerable rate. On the other hand, Ammonia is used abundantly in the agricultural industry is also predictive to promote the Global Ammonia Market in the years to come. The face of the agriculture industry is changing where now the accelerating focus on the energy is also probable to fuel the Ammonia usage as a refrigerant to make plants safe. As the matter of natural refrigerants, Ammonia is decidedly recognized as the most environmentally friendly refrigerant, which in turn, is contributing largely in the Global Ammonia Market expansion.
On the other hand, Ammonia is a valuable source of nitrogen and possessing zero Ozone Depletion Potential and Global Warming Potential is mainly used in the manufacturing of liquid fertilizer solutions has also taken charge for the market to expand at a high level in the assessment period. Other application industries such as textiles, pharmaceuticals, industrial & household cleaning, food and beverages, metallurgical processes, water and wastewater treatment, rubber, pulp & paper, and leather are having Ammonia being used as a refrigerant owing to benefits such as high efficiency, environmentally friendly, better heat transfer properties, and cost.
Summary:
Acknowledging the accruals, the Global Ammonia Market is relishing a prosperous growth graph currently by demonstrating the potential further in the years to come. This report is from Market Research Future (MRFR) that published a recent study report asserts that the Global Ammonia Market will be valued exponentially by 2025, registering an impressive CAGR of 5.85%.
Key Players:
The essential competitors shaping the Global Ammonia Market are listed as CF Industries Holdings, Inc, Yara, Nutrien Ltd, Group DF, OCI NV, EuroChem Group AG, SABIC, Acron Group, Orica Limited, Uralchem JSC, AB "Achema, Togliattyazot, IFFCO, Qatar Fertiliser Company and Koch Fertilizer, LLC, among others.
Browse the market data and information spread across 174 pages with 187 data tables and 25 figures of the report “Ammonia Market Report - Forecast 2018-2025” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/ammonia-market-2405
Market Segmentation:
Market Research Future offers a comprehensive segmental analysis of the Global Ammonia Market, which has been segmented into Form and Application.
By the mode of Form, the global market has been classified into liquid, gas, and powder. Among these, the liquid segment held the largest market share of 43.14% in 2018 owing to high demand for liquid ammonia in major applications such as fertilizers, refrigerants, and chemicals.
By the mode of Application, the global market has been categorized into fertilizers, chemicals, refrigeration, fibers and plastics, pharmaceutical, pulp and paper, and many others. Where, the fertilizer segment has been projected to register a CAGR of 6.23%, owing to the need to increase agricultural productivity.
The Evolving Ammonia Market has gained abundant traction and is expected to become profitable by the year 2025
The regional evaluation of the Global Ammonia Market includes Asia-Pacific, Europe, North America, Latin America, and Middle East & Africa.
Among all, Asia-Pacific held the largest market share of over 53% in 2017 and is now predictable to record the highest CAGR during the forecast period. Such tremendous market growth is mainly attributed to the mounting demand for Ammonia in the production of fertilizers in major countries such as India, China, Thailand, and Indonesia.
Next, the North American market, which is projected to register the second highest CAGR of 5.37% to reach USD 10,141.9 Million by the end of 2025, as the US is the foremost contributor to the growth of this regional market. The US lodges over 25 production plants of more than 15 substantial manufacturers of the production. The European market is thus following the market in Asia-Pacific, concerning with the consumption mainly in France, Belgium, Italy, and Germany. These are the major contributors to the growth of the Regional Ammonia Market.
Whereas, the Latin American market is also estimated to exhibit a vigorous CAGR of 5.76% which is primarily accredited to the speedily growing demand for the product in the major agricultural economies such as Brazil and Argentina. Moreover, Trinidad & Tobago is considered to be the major producer of Ammonia in this region.
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