New York, NY -- (SBWIRE) -- 12/24/2020 -- Ammonia Market:
Ammonia Market is a colourless gas with a pungent odour. It is a compound of nitrogen and hydrogen. On dissolving in water, it forms an ammonium hydroxide solution. Ammonia is extensively used in the manufacturing of several industrial chemicals like ammonium sulfate, ammonium phosphates, and other products such as urea manufacturing. In its compressed form, it is highly combustible and may explode when exposed to heat, which is why it is transported in steel cylinders. Estimates suggest that the global Ammonia market will reach USD 90.88 Billion from USD 55.01 Billion in 2019, at a CAGR of 5.7% through 2027.

Market Drivers:
Ammonia is primarily used as a fertilizer in the agricultural industry. Fertilizer segment dominates the global market with a major revenue share. As an important source of nitrogen, it is extensively used as a plant growth stimulator. Liquid fertilizer solutions made up of ammonia are also gaining large-scale adoption. It is used in the production of rubber, paper, and leather. It is also used as a refrigerant which is further used in heavy commercial and industrial applications due to its excellent heat transfer properties as compared to other chemical refrigerants. Industries like textiles, pharmaceuticals, industrial and household cleaning, food and beverages, wastewater treatment etc. are also creating huge product demand. The growing product demand for various applications is likely to foster the ammonia market size over the forecast period.

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The influential and dominant players of the Ammonia global market are:
BASF SE, SABIC, CF Industries Holdings, Inc., Huaqiang Chem Group, PotashCorp, Rashtriya Chemicals & Fertilizers Ltd., China National Petroleum Corporation, China Petroleum & Chemical Corporation, Shanxi Jinfeng Coal Chem, and Qatar Fertilizer Company, among others.

Global Ammonia Market Scope and Market Size –
The study is segmented and sub-segmented into types, applications, regions, products, players, and growth that was observed. This helps a new entrant to be on par with the competitors in the market in terms of growth expectation and cost estimation of the production and sales. Moreover, consumer behavior and rising levels of disposable income will also influence the trends of the market.

Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Liquid
Gas
Powder

Distribution Channel Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Online
Offline

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Industry Verticals Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Agriculture
Mining
Textiles
Refrigeration
Pharmaceutical
Others

Ammonia Regional Analysis:
The global market is divided among North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The Asia Pacific leads the charts in terms of production and consumption of ammonia. China's market is anticipated to grow at a CAGR of 6.3% from 2020 to 2027. In terms of production, China is followed by India and Indonesia. The U.S is also among the major producers of ammonia globally.

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TOC of the Ammonia Market Report:
Ammonia Study Coverage
Executive Summary
Market Size by Application
Manufacturers Profiles
Production Forecasts
Consumption Forecast
Market Size by Manufacturers
Production by Regions
Consumption by Regions
Market Size by Type
Value Chain and Sales Channels Analysis
Ammonia Market Opportunities & Challenges, Risks and Influences Factors Analysis.

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