The Ammonia Market to proliferate based on innovation from 2016-2024

Persistence Market Research delivers key insights on the Australia ammonia market in its latest report titled, "Australia Market Study on Ammonia: Increasing Consumption in Nitric Acid Production to Drive Growth by 2024". The ammonia market in Australia is estimated to register 5.8% Y-o-Y growth in 2016 over 2015 and is expected to expand at a CAGR of 6.3% over the forecast period (2016-2024). By product type, anhydrous ammonia segment is expected to continue to dominate the market in terms of value and volume share throughout the forecast period (2016-2024). Production of ammonium nitrate by explosives manufacturers to cater to demand for industrial explosives from the mining sector is anticipated to drive growth of the Australia ammonia market over the forecast period.

To remain 'ahead' of your competitors, request for a samples@ https://www.persistencemarketresearch.com/samples/11527

Also, increasing demand for nitrogen-rich fertilizers such as DAP and MAP is expected to drive volume sales of ammonia during the forecast period. However, volatility in natural gas prices and increasing dependency on fertilizer imports are factors expected to restraint growth of the ammonia market in Australia.

To connect with our sales representative- sales@persistencemarketresearch.com

On the basis of end use, nitric acid segment is expected to exhibit relatively strong projections by 2024 end, owing to pivotal use of nitric acid both directly and as precursor to other downstream products. The segment is expected to continue to account for major value and volume shares in the Australia ammonia market throughout the forecast period, to account for 46.2% by 2024 in terms of value and expand at a CAGR of 7.9% in terms of volume during the forecast period. Ammonium nitrate segment in the Australia ammonia market is expected to be valued at US$ 172.0 Mn by 2016 end, registering 7.3% Y-o-Y growth over 2015.

For critical insights, request for methodology @ https://www.persistencemarketresearch.com/methodology/11527

On the basis of application, industrial chemicals segment is expected to maintain its dominance throughout the forecast period. Explosives segment is expected to register the second-highest CAGR of 7.5% over the forecast period, to reach value of US$ 298.2 Mn by 2024 end.

Western Australia is the largest market for ammonia. The market in the region is estimated to be valued at US$ 230.7 Bn by 2016 end. The ammonia market in New South Wales is anticipated to expand at a significant CAGR of 7.2% in terms of value over the forecast period.

Key players in the Australia ammonia market include Yara International ASA, Orica Limited, Incitec Pivot Limited, and CSBP Limited (Wesfarmers Limited). The Australia ammonia market is highly consolidated, with limited number of ammonia manufacturers and suppliers. However, major players in the market are focusing on expanding their production of ammonium nitrate to cater to demand for industrial explosives from the mining industry. Increase in ammonium nitrate production is anticipated to significantly increase demand for ammonia and nitric acid.

For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/11527

Complete Report Details@ https://www.persistencemarketresearch.com/market-research/ammonia-market.asp

Read More Trending "PMR Exclusive Article"-

Agrochemicals Market@ https://www.persistencemarketresearch.com/market-research/agrochemicals-market.asp

Xanthates Market@ https://www.persistencemarketresearch.com/market-research/xanthates-market.asp

Contact Us:
Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com
Website - https://www.persistencemarketresearch.com

About us-
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on "micros" by Persistence Market Research helps companies overcome their "macro" business challenges.

This release was published on openPR.