Pune, India -- (SBWIRE) -- 03/09/2018 -- Ammonia Market – Market Overview

Ammonia Market is a lucrative market and is expected to witness a steady growth during the forecast years. Ammonia or azane is a compound of hydrogen and nitrogen. Ammonia is an essential source of nitrogen based products and is also used in food and fertilizers. It is extensively used in the agricultural industry and also finds wide application in pharmaceutical as well as household applications. The growing production capacities in the developing regions coupled with the increasing use in fertilizers are the major factors driving the growth of the market. The global ammonia market is segmented on the basis of form, application and regions. On the basis of form the market is segmented into form and application. On the basis of form the market is segmented into liquid, gas and powder. On the basis of application, the market is segregated into fertilizers, refrigerants, pharmaceuticals, textile and others. Among the form segment, liquid form is expected to dominate the market in terms of revenue. The growing use of liquid ammonia in the end user industries is majorly contributing to the growth of the segment. Among the application segment, agriculture is the dominant segment and is anticipated to retain its dominance during the forecast period. Ammonia is a major source of nitrogen in crops, which is a vital element for plant growth.

According to the analysis of MRFR, the major market forces and trends driving growth of the Global Ammonia Market includes increasing demand for various application industries such as agriculture, metallurgy, and waste water treatment among others. The demand for ammonia from the agrarian economies throughout the globe is the major factor driving the growth of the market. Moreover, the increasing use of ammonia as refrigerant is also contributing to the growth of the market. However, adverse health effects of ammonia can act as a major down side to the market growth.

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Ammonia Market- Competitive Landscape

The Global Ammonia MARKET is a highly lucrative market driven by flourishing growth in agriculture, pharamceuticals, along with the propelling demand from the as refrigerants. BASF SE (Germany), PotashCorp (Canada), Yara International (Norway), CF Industries Holdings, Inc. (US), Group DF (Ukraine), Togliattiazot (Russia), OCI Nitrogen BV (Netherlands) among others are some of the major players operating in this market. Most of these market participants are adopting the expansion and product launch tactics to strengthen their production capacities and market position. Taking account of these trends the global Ammonia Market is projected to witness considerable competition over the forecast period of 2017-2022.

Asia pacific is expected to be the fastest growing region during the forecast years. The growing population in the developing countries and increasing GDP has augmented the demand for pharmaceuticals and textiles which in turn is fuelling the demand for ammonia in the region. Moreover, the presence of the most populated economies namely India and China has further augmented the demand for agricultural produce in turn adding to the growth of ammonia market during the forecast years.

Industry/ Innovation/ Related News:

24th August 2017- Mammoet Russia has started the construction of a new ammonia plant in Kingisepp, Russia. The new plant is designed to yield a capacity of 2,700 tonnes of ammonia per day. This plant is expected to be built in accordance with the latest technology and is in accordance with the various environmental and safety regulations. This new project is expected to add to the supply of ammonia into the European market thereby adding to the market growth.

28th August 2017- Brunei Fertilizer Industries is expected to increase their production capacity of ammonia with the development of new plant at Sungai Liang Industrial Park, Brunei. The new plant is expected to have a capacity of 2200 tonnes of ammonia and 4000 tons of urea per day. This plant is expected to strengthen their market position and growth in the Asia Pacific region.

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