US$ 5,748 Million, Indian Ammonia Market Business Opportunity and Forecast 2023-2028

According to the latest report by IMARC Group, titled "Indian Ammonia Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the Indian ammonia market size reached US$ 5,415 Million in 2022. The market is anticipated to reach a value of US$ 5,748 Million by 2028, exhibiting a CAGR of 1% during 2023-2028.

Ammonia (NH3) is an inorganic stable binary hydride compound that serves as a starting material for the production of a wide range of commercial nitrogen compounds. It is characterized by a distinctive pungent odor, high water solubility, and colorless form. Ammonia is a part of the nitrogen cycle and is produced in soil by bacterial processes and is thus naturally sourced from plants and animals. In commercial manufacturing, it is produced in a Haber-Bosch reaction, which involves the direct reaction of elemental nitrogen and hydrogen under high temperatures, catalysts, and elevated temperatures. Ammonia liquid is created by compressing gaseous ammonia into a liquid form, which dissolves in water to form ammonium hydroxide. Ammonia is most commonly used in the manufacturing of ammonium nitrate fertilizers, which discharge nitrogen into the soil to promote growth in farm crops and plants.

Request Free Sample Report: https://www.imarcgroup.com/indian-ammonia-market/requestsample

Indian Ammonia Market Trends:

The market in India is majorly driven by the rising fertilizer consumption in the agricultural sector across the country. This can be attributed to the rapid expansion in the crop production due to the growing population. In line with this, rapid urbanization resulting in a significant reduction in cultivation lands is propelling the demand for higher volume of crop produce, which, in turn, is resulting in a higher uptake for ammonia-based fertilizers. Moreover, continual product innovations, such as the advent of nitrogen-rich, ammonia-based natural fertilizers and agrochemicals to enhance produce quality, is also creating lucrative growth opportunities in the market. Besides this, an enhanced focus on sustainable development resulting in the manufacturing of green ammonia is positively impacting the market.

Additionally, the rapid utilization of ammonia in the formulation of cleaning agents, such as detergents and wash liquids, is providing an impetus to the market. The market is further fueled by the growing adoption of ammonia as a refrigerant in heating, ventilation and air conditioning (HVAC) appliances. Apart from this, the escalating demand for ammonia and ammonia byproducts in the pharmaceuticals industry is further creating a positive outlook for the market. Some of the other factors contributing to the market include rapid industrialization, rise in government investments in the agricultural sector, increasing industrial applications of steam methane, and extensive research and development (R&D) activities conducted by the key players.

Ask Analyst and Download Full Report with TOC & List of Figure: https://www.imarcgroup.com/indian-ammonia-market

Key Market Segmentation:

Competitive Landscape:

• Chambal Fertilizers and Chemicals Ltd.
• GNFC (Gujarat Narmada Valley Fertilizers and Chemicals)
• IFFCO (Indian Farmers Fertilizer Cooperative Limited)
• KRIBHCO (Krishak Bharati Cooperative Limited)
• NFCL (Nagarjuna Fertilizers and Chemicals Limited)
• RCFL (Rashtriya Chemicals and Fertilizers Ltd)
• Southern Petrochemicals Industries Limited (SPIC)

Breakup by Physical Form:

• Anhydrous Ammonia
• Aqueous Ammonia

Breakup by End-Use:

• Urea
• Ammonium Phosphate Fertilizers
• Industrial
• Others

Breakup by States:

• Gujarat
• Maharashtra
• Rajasthan
• Others

Media Contact
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St.
City: Brooklyn
State: NY
Country: United States

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.