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Australia Ammonia Market: Powering Growth with Renewable Energy Solutions
Australia Ammonia Market
Australia Ammonia Market Research Report, You Could Get a Better Analysis of the Australia Ammonia Market 2021-2026 Situation On the Basis Of Various Parameters. It Helps You Better Know the Market Trends and The Pricing History of A Product Or Service. Along with That, The Extensive Market Research Helps You to Forecast the Future Period in The Best Manner. With The In-Depth Market Analysis and Research, The Business Could Grow to A Great Extent, Too, In A Competitive Market. Moreover, You Could Easily and Quickly Identify and Understand the Business Potentials Through Extensive And In-Depth Market Research. And Then Use This Research for Better Decision Making for Business Growth.
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).
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Australia Ammonia Market Segmented By Anhydrous Ammonia, Aqua Ammonia Product Type Used as Ammonium Nitrate, Nitric Acid, Ammonium Sulphate, Urea, Diammonium Phosphate, Monoammonium Phosphate in Agrochemicals, Industrial Chemicals, Explosives
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. 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.
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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.
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.
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductors and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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