The global ammonia market size was valued at USD 66.4 billion in 2021. The market is projected to grow from USD 66.4 billion in 2021 to USD 95.3 billion by 2028, exhibiting a CAGR of 6.20% during the forecast period.
Chicago, Nov. 28, 2022 (GLOBE NEWSWIRE) -- The global ammonia market is expected to exhibit strong growth, reaching USD 95.3 billion by 2028. As per the report titled "Ammonia Market Size, Share & COVID-19 Impact Analysis, By End Users (Fertilizers, Chemicals, Refrigeration, Textile, Household & Industrial Cleaning Fibers & Plastics, Pharmaceutical and Others), By Form (Liquid, Powder and Gas) and Regional Forecasts, 2022-2028" observes that the market size in 2021 stood at USD 66.4 billion and USD 95.3 billion in 2028. The market is expected to exhibit a CAGR of 6.20% during the forecast period.
Ammonia is a hydrogen and nitrogen chemical also referred to as azane. Ammonia is a colorless gas with a strong odor. Many foods and fertilizers use ammonia as a supplement. The market's expansion may primarily be ascribed to the rising demand for agricultural products and related agrochemicals such as fertilizers due to the world's expanding population. Furthermore, a significant driver anticipated to fuel market expansion is the rising need for ammonia in the pharmaceuticals sector. The ability of ammonia to condition and acidify the soil, as well as growing public awareness about growing crops of higher quality, are additional factors that are predicted to increase demand for ammonia.
Request a Sample Copy of the Report: https://marketsnresearch.com/sample/1577
The COVID-19 outbreak has severely impacted the supply chain for fertilizer in the Asia Pacific region. The inability of farmers to obtain fertilizers because of difficulties with customs clearance, disruptions in local and global transportation systems, and backed-up roads and ports. The production of grains and oilseeds has decreased due to farmers' inability to obtain raw materials because they depend on these qualities. To ensure farmers have easy access to soil nutrients during the coronavirus pandemic, the Indian government, for instance, is closely monitoring the production and distribution of fertilizers.
Notable Industry Development
March 2021: Development of the Special Economic Zone, an Oman-based company in Duqm (Tatweer), collaborated with ACME Solar Holdings Ltd, a solar developer company in India, to plan to invest USD 2.5 billion to produce green hydrogen and green ammonia in the Duqm SEZ.
Increasing Ammonia Production Worldwide to Accelerate Market Growth
Nitrogen and hydrogen combine to generate the inorganic substance ammonia, which has the formula NH3. Since nitrogen chemical is a major source of nutrition necessary for plant growth, the agricultural sector is the main user of ammonia. In addition, ammonia is used to create various liquid fertilizer solutions, including urea, ammonium nitrate, and aqua ammonia. Therefore, it is anticipated that the worldwide ammonia market will experience significant growth, supported by the widespread use of ammonia and rising ammonia production globally. According to statistics, ammonia (NH3) was the second most manufactured chemical after sulphuric acid (H2SO4) in 2019, with a global production of 235 million tonnes. Over the forecast period, production is expected to rise even further.
Click Here to Access a Free Sample Report of the Global Ammonia Market @ https://marketsnresearch.com/sample/1577
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the ammonia market plan acquisitions to improve their brand recognition globally. For instance, in May 2021, after a five-year hiatus, Japan's Mitsui O.S.K. Lines is returning to the ammonia shipping business. The business also disclosed that it would participate in a joint development study on the chain of ammonia fuel supply.
List of Key Players Profiled in the Report
Dow Chemical Company
Praxair Technology, Inc.
MITSUBISHI GAS CHEMICAL COMPANY, INC.
Koch Fertilizer, LLC.
Incitech Pivot limited
Quick Buy- Ammonia Market Report: https://marketsnresearch.com/checkout/1577/1ecda5z5e4
Lack of Understanding Regarding Green Ammonia May Limit the Market Growth
Green ammonia technology research is still in its early stages. Methods for quickly producing ammonia with water and nitrogen include biological cycling, photochemistry synthesizing, and the synthesis method. However, these techniques have significant technological challenges that necessitate work and R&D costs. Most ammonia producers still use conventional methods to produce ammonia today. The major problem with green ammonia is that chemical producers don't understand it well enough.
Report Scope and Segmentation
Forecast Period 2021 to 2028 CAGR
2028 Value Projection
Market Size in 2021
Historical Data for
2018 - 2021
By End User, By Form, and By Geography
North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Ask For Any Customization @ https://marketsnresearch.com/customization-request/1577
Segmentation of Global Ammonia Market
Global Ammonia Market – By End Users
Household & Industrial Cleaning
Fibers & Plastics
Global Ammonia Market – By Form
Ask For Pricing @ https://marketsnresearch.com/buying-request/1577
Asia Pacific is projected to hold the largest share of the ammonia market over the forecast period. The rising demand for fertilizer in China and India is to blame for this. Food demand has increased due to rapid urbanization and rising populations, and this trend will only fuel crop production's need for fertilizer. China uses and produces the most fertilizer globally. The government has implemented programs to promote phosphate consumption and production to increase overall output because China's soils are naturally phosphate deficient.
Further Report Findings
The market in Asia Pacific is expected to gain a huge portion of the global ammonia market share in the coming years. The presence of numerous international players and the increasing demand for agricultural products in the area are both credited with this expansion.
Ammonia is primarily obtained from natural gas worldwide; however, coal gasification is China's primary production method. China is followed in terms of production by Indonesia and India.
In Europe, the growth in this region is primarily driven due to increased hydrogen fuel advancements and the government pushing to install hydrogen fuel in residential and commercial markets.
Download PDF Broucher @ https://marketsnresearch.com/sample/1577
Our Free Sample Report Consists of the following:
Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
Includes Tables and figures have been updated
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Still, Looking for More Information? OR Want Data for Inclusion in Magazines, Case Studies, Research Papers or Media?
Email Directly Here with Detail Information: email@example.com
About Markets N Research
When it comes to investing and money matters, you need the leading market research consultancy firm to help you make the right decisions during the toughest business questions and decisions. Markets N Research is the leading research company offering both tactical and strategic support to all our customers. Customer satisfaction is our goal and that is why, we have a team of skilled and experienced specialist with the ability to do data mining, information management, and revenue enhancement solutions to ensure that our clients make informed decisions when coming to investing in the market.
Markets N Research team is comprised of well skilled and equipped personnel ready to concur any upcoming challenges in the market sector for both individual people and organization around the world. We know time is money, and therefore we ensure we solve your problem within the shortest time possible to prevent delays or missing any opportunities. We use globally accepted techniques with a little innovation from our staff in solving all your market research related challenges.
Markets N Research
Follow on Linkedin: https://www.linkedin.com/company/markets-n-research
Follow on Twitter: https://twitter.com/marketsnr
Like us on Facebook: https://www.facebook.com/Markets-N-Research-108839598639025
Browse More Chemical Industry Reports @ https://marketsnresearch.com/category/chemicals-and-materials/chemicals/2
Maintenance Repair and Operations (MRO) Market by MRO Type (Industrial MRO, Facility MRO, Electrical MRO, Others), Provider (Original Equipment Manufacturer (OEM), Aftermarket), End Use (Manufacturing, Electrical, Facility, Construction, Mining, Aerospace and Defense, Pharmaceuticals, Chemicals, Automotive, Food and Beverages, Oil and Gas, Others) Technology (3D Printing, AR/VR, Robotics, Artificial Intelligence, Predictive Maintenance, Big Data Analytics, Internet of Things (IoT), Others) Application (Predictive Analysis, Mobility, Performance Monitoring, Inspection, and Functionality, Others) and Region - Global Forecast to 2028
Printing Ink Market, By Type (Solvent-based, Water-based, Oil-based, UV, UV-LED, and Others); By Process (Lithographic Printing, Flexographic Printing, Gravure Printing, Digital Printing, and Other); By End-use (Packaging, Commercial and Publication, Textiles, and Others) Market - Growth, Future Prospects, Post COVID-19 Scenario 2020 â€“ 2028
Global Demulsifiers Market, By Type (Oil Soluble, and Water Soluble); By Application (Crude Oil, Petro Refineries, Sludge Oil Treatment, Oil-based Power Plants, Lubricant Manufacturing, and Other); Market - Growth, Future Prospects, Post COVID-19 Scenario 2021 â€“ 2028
Global Optically Clear Adhesives Market, By Resin Type (Acrylic, Silicone, Polyvinyl Acetate, Polyurethane, Epoxy, and Others); By Application (Mobile Phones, Television, Tablets, Monitors, Automotive, Outdoor Signage, and Others); Market - Growth, Future Prospects, Post COVID-19 Scenario 2021 â€“ 2028
Wheat Germ Oil Market, By Nature: (Organic and Conventional), By End Use (Cosmetics & Personal Care, Dietary Supplements, Pharmaceuticals, Food, and Others) Market - Growth, Future Prospects, Post COVID-19 Scenario 2020 - 2028