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Ammonia Market Top-Vendor and Industry Analysis by End-User Segments 2027

11-29-2019 03:14 PM CET | Science & Education

Press release from: Worldwide Market Reports

Ammonia

Ammonia

Ammonia, a colourless and nonflammable gas with a characteristic pungent smell, is a compound of nitrogen and hydrogen with the formula NH3. Ammonia is shipped as a liquified gas under its own vapor pressure of 114 psig. Most extensive use is in soil fertilization. This application is used in the form of salts, nitrates and urea.

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The global ammonia market was valued at US$ 48.99 billion in 2017 and is expected to expand at a CAGR of 5.4% in terms of revenue during 2018–2025, owing to rising ammonia production capacity across the globe. According to the International Fertilizer Industry Association (IFA), global ammonia capacity is projected to expand by 8% over 2016, to reach 234 Mt NH3 in 2021. Increase in capacity is expected in EECA, North America, and Africa by 2027.

Increasing demand for fertilizers in the agriculture sector is the major driving factor for the growth of global ammonia market across owing to increasing production capacity of ammonia across the globe this factor driving the market. For instance, according to the International Fertilizer Industry Association (IFA), ammonium production on the basis of region North America and South Asia accounted for 70% of overall capacity growth in forecast period (2017-2021).

However, ammonia is irritating and corrosive. Thus, exposure to high concentrations of ammonia in air causes burning of nose, throat, and respiratory tract, which is one of the major factors restraining the ammonia market growth.

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Asia Pacific is expected to account for significant market share in the global ammonia market in terms of revenue over the forecast period. Ammonia is used in cleansing agents and as food additives. Ammonia is used as leavening agents in baked goods and as an acidity controller in cheese and chocolate. According to Coherent Market Insights' analysis, the global chocolate market was valued at US$ 99.60 billion in 2016 and is expected to grow at a CAGR of 6.6% over the forecast period, which in turn will drive growth of ammonia market.

Europe held significant market share in the global ammonia market in 2017 and is expected to retain its dominance over the forecast period owing to benefits of the ammonia such as acid regulators, stabilizers. According to World Health Organization (WHO), the estimated daily ammonia intake through food and drinking water is 18 mg, by inhalation is less than 1 mg, and through cigarette smoking (20 cigarettes per day) is less than 1 mg. In contrast, 4000 mg of ammonia per day are produced endogenously in the human intestine.

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Major Players in the Global Ammonia Market

Some of the key players operating in the global ammonia market include Yara International ASA, BASF SE, CF Industries Holdings, Inc., Nutrien Ltd., Potash Corporation of Saskatchewan Inc., Dangyang Huaqiang Chemical Co., Ltd., Shanxi Jinfeng Coal Chemical Co Ltd., GTS Chemical Holdings plc.,Togliattiazot, OCI Nitrogen B.V., Agrium Inc., Sabic, and Koch Fertilizer, LLC among others.

Mr. Shah
Worldwide Market Reports
Tel: +1 415 871 0703
Email: sales@worldwidemarketreports.com

About WMR:
WMR is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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