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Amla Extract Market: Strong Growth Forecast with CAGR of 6.0% by 2029, Driven by Rising Health Awareness and Beauty Trends
Amla Extract Market
Steady Growth and Future Prospects of the Global Ammonia Market
What Is The Projected Market Size Of The Global Ammonia Market And Its Growth Rate?
From a solid growth base in recent years, the ammonia market's future trajectory promises even more exciting growth. The market indicators are as follows:
- The market stood at $79.13 billion in 2024.
- It is forecast to reach $85.57 billion in 2025, demonstrating a CAGR of 8.1%.
- Historical growth factors included agricultural demand, population expansion, energy/power generation, and chemical manufacturing.
- The market will surge to $124.86 billion in 2029, marking a CAGR of 9.9%.
- Future growth will be driven by the hydrogen economy, renewable energy, carbon capture and storage (CCS), and clean energy transition.
What Is Driving The Growth In The Ammonia Market?
The growth of the ammonia market is largely attributable to the fertilizer industry's expansion. Ammonia is a vital ingredient for manufacturing ammonium nitrate fertilizer, which releases nitrogen, crucial for plant growth. The rising fertilizer industry is projected to increase the utilization of ammonia. For instance, in September 2024, The Agricultural Industries Confederation reported that nitrogen usage in England & Wales rose from 687,000 tonnes in 2022 to 692,000 tonnes in 2023. Thus, the fertilizer industry's growth propels the ammonia market's expansion.
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Who Are the Key Players Driving Ammonia Market Growth?
Key industry players include:
- Yara International ASA
- BASF SE
- CF Industries Holdings Inc.
- Nutrien Ltd.
- OCI Nitrogen
- Eurochem Group
- Koch Fertilizer LLC
- China National Petroleum Corporation
- Rashtriya Chemicals and Fertilizers Ltd.
- Qatar Fertiliser Company
- Mitsubishi Gas Chemical Co Inc.
What Are The Key Trends In The Ammonia Market?
The ammonia market is observing these major trends:
- Green ammonia production
- Ammonia as a hydrogen carrier
- Ammonia for energy storage
- Hydrogen fuel cell vehicles
- Sustainable fertilizer production
What Are The Segments Of The Global Ammonia Market?
The global ammonia market can be segmented as follows:
- Product Type: Anhydrous Ammonia, Aqueous Ammonia
- Form Type: Liquid, Powder
- Application Type: Fertilizers, Chemicals, Refrigeration, Pharmaceutical, Fibers and Plastics, Pulp and Papers
Which Region Leads The Ammonia Market ?
Asia-Pacific dominated the ammonia market in 2024 and is predicted to be the fastest-growing region in the forecast period. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Ammonia Market Global Market Report?
- Market Size Analysis: Analyze the Ammonia Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Ammonia Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Ammonia Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Ammonia Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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