Selbyville, Delaware , May 02, 2022 (GLOBE NEWSWIRE) --
Middle East Ammonia market value is projected to reach USD 8.5 billion by 2028, according to a new research report by Global Market Insights Inc. Increasing the utilization of fertilizers as nutritional additives in agriculture will accelerate the industry trends.
The utilization of ammonia in several industries such as agriculture, pharmaceutical, textiles, refrigeration, and mining are anticipating the business expansion. Key properties of ammonia like rich source of nitrogen, abrasion resistance, and heat transfer property thus it enhances the demand for variety of the applications. Rising population and urbanization demand for excessive agriculture production is expected to fuel the market landscape.
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Anhydrous Ammonia segment is predicted to witness CAGR of 3.8% through 2028. The increasing demand for anhydrous ammonia owing to its environmental-friendly properties from various end-use industries including medical and chemical will propel the market statistics. Rising inclination towards cleaning and sanitation due to increased well-being and health awareness, amidst pandemic has boosted the demand for household & industrial cleaners.
Some major findings of the Middle East Ammonia market report include:
- Increasing popularity of commercial agriculture in the region is likely to direct the adoption of nitrogenous fertilizers, thereby escalate the industry share.
- Rising demand for ammonia refrigerant owing to its benefits such as ecofriendly nature, low electricity consumption, and reduced operating cost will drive the market forecasts.
- Saudi Arabia market is expected to surpass USD 3.5 billion by 2028 due to rising demand for ammonia refrigerants.
Browse key industry insights spread across 114 pages with 46 market data tables & 31 figures & charts from the report, “Middle East Ammonia Market Analysis by Type (Anhydrous Ammonia, Aqueous Ammonia), By Application (Fertilizers, Refrigeration, Pharmaceuticals, Water Purification Chemicals), Industry Analysis Report, Country Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2022 – 2028’’ in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/middle-east-ammonia-market
Middle East ammonia market from refrigeration segment set to cross USD 30 million by 2028. Ammonia is a natural refrigerant used as an eco-friendly refrigerant in refrigeration systems. Ammonia has a great heat transfer properties than other chemical refrigerants. Ammonia has a very low boiling point that benefits the thermodynamic efficiency of the refrigeration system thus it will reduce the operating cost of the system. The ammonia refrigeration system is a vapor-compression refrigeration system. It is suitable for industrial and commercial applications. Further, increasing demand for ammonia as a refrigerant in refrigeration applications owing to its benefits such as being less expensive, ozone safe, and efficient will impel the business progression.
Saudi Arabia ammonia market is estimated to exhibit a CAGR of 3.5% during the forecast period. Saudi Arabia is one of the largest exporters of ammonia. The rising demand for ammonia from the U.S. & European markets and stringent global supplies are anticipated to positively influence the regional market revenue. Additionally, the market growth in the country is likely to shortage of water, and less rainfall that boosted demand for fertilizers to increases agricultural crop production.
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Middle East ammonia market is moderately fragmented with the presence of multinational corporations and regional manufacturers including Yara International ASA, SABIC, Ma’aden, Qatar Fertiliser Company, Hemmat Petrochemical Company, Gulf Petrochemical Industries Company, Pardis Petrochemical Company, OCI N.V., Istanbul Fertilizer Industry Inc. Co. (IGSAS), and Petrochemical Industries Company.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
