The population is exponentially increasing in the Asia Pacific region, which leads to the growing demand for daily use products such as food, cosmetics, and so on.
Albany, NY -- (SBWIRE) -- 11/07/2017 -- Persistence Market Research has come up with a new publication titled "Ammonia Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)," with forecasts for the global ammonia market for a period of eight years, i.e. between 2017 and 2025. The global ammonia market is likely to witness a steady growth and is estimated to account for US$ 57.06 Bn by the end of 2017, expanding at a CAGR of 3.3% during the projected period. At the end of the assessed period, i.e. by the end of 2025, global ammonia market is expected to be valued at US$ 73.84 Bn. Growth in the market is expected to be driven by increasing consumption of fertilizers in the current scenario. To seek opportunities in untapped markets of Asia Pacific and Latin America is the key strategy of global players in the ammonia market.
The population is exponentially increasing in the Asia Pacific region, which leads to the growing demand for daily use products such as food, cosmetics, and so on. Obviously, the growing demand for these products leads to the growing demand for ammonia, as ammonia is used in manufacturing process or fertilizers. As rice, wheat, and few other food grains mainly grow in Asia Pacific region, ammonia as a fertilizers (Urea, MAP, DAP, etc.) leads to grow the global market for ammonia. Mining sector in APAC is also growing speedily since last few years. Particularly, countries like Indonesia and China are leading the mining sector in the region. The growing mining activities in the region are responsible for the increasing demand for explosives. Similarly India is also influencing the regional market of ammonia due to the growth of the pharmaceutical sector. As ammonia is used as a feedstock for the various products such as medicines and cosmetics, it will give a boost to the global ammonia market in the region.
Global Ammonia Market: Forecast by Region
The global ammonia market has covered five regions namely, North America, Latin America, Europe, APAC and MEA. APAC is a significant market for ammonia in terms of market value, accounting for 52.4% revenue share in 2025. APAC region is estimated to hold comparatively high market in terms of market value and was valued at US$ 28.28 Bn in 2016. This growth can be attributed to the high consumption of ammonia for various applications, especially for agrochemicals and explosives. The region is expected to remain the dominant market over the forecast period. The market is expected to expand at a CAGR of 3.6% over the forecast period. APAC will be followed by Europe and North America.
Global Ammonia Market: Competitive Landscape
Some of the key players in the global ammonia market are included in this report. They 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.
Report Overview with TOC @ https://www.persistencemarketresearch.com/market-research/ammonia-market/toc