Thriving Demand for Downstream Nitrogen-based Products Enriches Value Chain of Ammonia Market, Wide Demand in Agriculture Industry Spurs Growth: TMR

ALBANY, N.Y., June 10, 2021 /PRNewswire/ -- Ammonia finds use in wide range of industries and its production has enriched the downstream markets of nitrogen-based products. A majority of ammonia produced worldwide over the past decades has been consumed in the fertilizer industry. Ammonia-based fertilizers—notably ammonium nitrate fertilizers--are extensively used by food growers and crop producers in ensuring a steady supply of nitrogen to the soil for plant's growth. The ever-rising demand for food crops globally has spurred the use of fertilizers by farmers, thus bolstering the production of ammonia.

ALBANY, N.Y., June 10, 2021 /PRNewswire/ -- Ammonia finds use in wide range of industries and its production has enriched the downstream markets of nitrogen-based products. A majority of ammonia produced worldwide over the past decades has been consumed in the fertilizer industry. Ammonia-based fertilizers—notably ammonium nitrate fertilizers--are extensively used by food growers and crop producers in ensuring a steady supply of nitrogen to the soil for plant's growth. The ever-rising demand for food crops globally has spurred the use of fertilizers by farmers, thus bolstering the production of ammonia.

Besides the uptake in agriculture industry, ammonia has been used as a popular natural refrigerant, due to its low cost and attractive thermodynamic properties. All these have made ammonia as an environmentally sustainable refrigerant for industrial refrigeration systems over the past several years. Other applications shaping the value chain of the ammonia market are waste and wastewater treatment, pharmaceutical industry, and paper and pulp industry.

Globally, the ammonia market is projected to reach valuation of US$ 34 Bn by 2031, clocking CAGR of ~2% from 2021 to 2031.

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Key Findings of Ammonia Market Study

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Ammonia Market: Driving Factors and Key Avenues

Ammonia Market: Regional Market

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Ammonia Market: Key Players

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