Global Ammonia Market Insights and Forecast to 2028

Ammonia Market Outlook 2028

The global ammonia market size is estimated to be worth US$ 75390 million in 2022 and is projected to a readjusted size of US$ 80500 million by 2028 with a CAGR of 1.1% during the forecast period. Key drivers of the ammonia market include growing use in fertilizer for nourishing soil nutrients. Also, ammonia is used as a refrigerant. It is applied in a wide variety of industries which is further propelling the growth of the ammonia market during the forecast period.

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Trends Influencing The Global Ammonia Market

Growing usage as a soil nutrient

Ammonia is extensively used as a fertilizer for nourishing the soil. It is the basic building block for ammonium nitrate fertilizer which releases nitrogen for the proper development of plants. Ammonia is basically used for sustaining food production worldwide. Sometimes food crops deplete soil nutrients. Fertilizers help in the replenishment of essential nutrients such as selenium, boron zinc, etc. Thus growing usage as a fertilizer is expected to drive the growth of the ammonia market during the forecast period.

Extensive usage in a wide variety of industries and as refrigerant

Ammonia is used in household cleaning products for removing stains, cooking grease, grime, and for cleaning the surfaces of sinks, toilets, tubs, tiles, etc. It is also used in the manufacturing of explosives, polymers, carpet and textiles industry, building materials, plastics, foams, and industrial ammonia. Further, this gas when released into the air does not deplete ozone or cause global warming. This feature aids in the introduction of ammonia as a powerful refrigerant for the preservation and processing of food. Thus extensive usage of ammonia in a wide variety of industries and as a popular choice for refrigerant is expected to bolster the growth of the ammonia market during the forecast period.

Ammonia Market Share Analysis

Based on application, the fertilizers segment is expected to provide lucrative opportunities for growth in the ammonia market share during the forecast period due to extensive usage as ammonium nitrate fertilizers for making the soil productive and aiding in the development of plant growth by releasing the essential nutrient nitrogen.

Based on region, Asia- Pacific is expected to provide lucrative opportunities for growth in the ammonia market share with China holding a share of 35% followed by North America and Europe having a total share of 35%.

Based on product type, the liquid segment is expected to provide lucrative opportunities for growth in the ammonia market share during the forecast period and will hold a share of about 40%.

Ammonia Market Segments

The authors of this research report have explored the key segments: Type and Application. The report offers an in-depth breakdown of type and application segments and their sub-segments. The lucrativeness and growth potential have been looked into by the industry experts in this report. This section of the report also provides sales and revenue forecast data by type and application segments based on sales, price, and revenue for the period 2017-2028. The specialists, to broaden the understanding of the users, have done value chain and raw material analysis in this section.

Ammonia Market By Type
Liquid Ammonia
Gas Ammonia

Ammonia Market By Application
Fertilizer
Refrigerant
Polymer Synthesis
Others

Consequences of Covid 19 Pandemic
The authors of this study have enlightened the readers on the rise and effect of the Covid-19 outbreak on the development. They have investigated the changes brought about in the demand/supply side, consumption, supply chain, and production/manufacturing. The readers will get familiar with the measures that have helped the key players to bring the Ammonia market back to the pre-covid levels.

Ammonia Market Trends & Prospects
In this segment of the report, the specialists have delved into the key growth opportunities that are likely to emerge. This will aid the key players to simplify complex issues related to business and frame future strategies to compete in this competitive environment. This section will certainly assist the players to boldly position their business.

Ammonia Market Production By Region
North America
Europe
China
Japan
Southeast Asia
India

Ammonia Market Consumption By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE

SIMILAR REPORT

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https://reports.valuates.com/market-reports/QYRE-Auto-1A9257/global-liquid-ammonia

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