Ammonia Market is estimated to expand at a healthy CAGR of more than 4% over the forecast period of 2021-2031: Persistence Market Research

As per analysis by Persistence Market Research, the global ammonia market is estimated to expand at a healthy CAGR of more than 4% over the forecast period of 2021-2031. As per analysis by Persistence Market Research, the  global ammonia marketis estimated to expand at a healthy CAGR of more than 4% over the forecast period of 2021-2031. Key Take aways from Market Study Request for sample PDF of report: https://www.persistencemarketresearch.com/samples/18724 "Key players...

As per analysis by Persistence Market Research, the global ammonia market is estimated to expand at a healthy CAGR of more than 4% over the forecast period of 2021-2031.

Key Take aways from Market Study

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"Key players have signed research & development contracts with academic institutions to introduce new applications for ammonia and develop new technologies that can help reduce overall operating and production costs. With a demand share of more than 50%, the agrochemical sector is projected to remain as the backbone of the ammonia industry throughout the decade," says an analyst of Persistence Market Research.

Competitive Landscape

The global ammonia industry has been identified as a moderately fragmented market, with a number of large players as well as substantial presence of medium-sized and local players. Tier-1 manufacturers account for a prominent market share of overall ammonia production and supply to end-use industries. Some of the leading players included in the report are Yara International ASA, CF Industries Holdings, Inc., Potash Corp, Orica Limited, Incitec Pivot Ltd, Mitsubishi Gas Chemical Co., Inc., Praxair, Inc., Achema AB, Linde Group, Jiangsu Huachang Chemical Co., Ltd, Koch Fertilizer LLC, SABIC, BASF SE, The Dow Chemical Company, Toggliazot PJSC, OCI Nitrogen, Haifa Chemicals Ltd., CNPC (China National Petroleum Corporation), Trammo, Inc., and Haldor Topsoe A/S. The presence of such diverse players in terms of size and geographic origin is anticipated to create a tough competitive environment at the global level.

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Conclusion

Increasing demand for agrochemicals coupled with rise in the production of fertilizers across the globe, especially the manufacturing of fertilizers such as urea, MAP (mono-ammonium phosphate), DAP (di-ammonium phosphate), and various others is expected to increase demand for ammonia over the forecast period. Besides, it is also used as a major feedstock for urea and for the production of modified fertilizers, which will further help drive market growth.

Furthermore, increasing use of explosives in mining operations is driving the need for ammonia, as it is a major component of explosives. Thus, increasing mining activities will increase the use of explosive products, and in turn, propel drive demand for ammonia.

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More Valuable Insights

Persistence Market Research, a research and consulting firm, has published a revised market research report on the ammonia market that contains global industry analysis of 2016-2020 and opportunity assessment for 2021-2031. The report provides in-depth analysis of the market through different segments, namely, type, end use, application and region. The report also provides supply and demand trends, along with an overview of the parent market.

Browse Research Release at: https://www.persistencemarketresearch.com/market-reports.asp 

Browse End-to-end Market:  Chemicals and Materials

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