The global ammonia market will derive growth from the widespread product applications. According to a report by Fortune Business Insights™, titled “Ammonia Market Size, Share & Industry Analysis, By Type (Liquid, Gas, Powder), By End-Use Industry (Agriculture, Refrigeration, Pharmaceutical, Textiles, Mining, Others) and Regional Forecast, 2019-2026,” the market will benefit from the increasing investment in product R&D.
Browse Report Summary:
List of the leading companies that are operating in the ammonia market are:
- BASF SE
- Qatar Fertiliser Company
- Yara International
- Koch Fertilizer
- CF Industries
- Jiangsu Huachang Chemical
- Incitec Pivot
- Linde Group
- China National Petroleum Corporation
- Haldor Topsoe
- OCI Nitrogen
- Dow Chemical
- Mitsubishi Gas Chemical
- Potash Corp
- Haifa Chemicals
- Group DF
Ammonia is a colourless and pungent smelling gas that is formed through a combination of hydrogen and nitrogen. The substance is used for numerous applications across diverse industries. Ammonia can either be extracted naturally from plants and animal produce or can be derived synthetically with the help of several chemicals and substances. Ammonia is used in various purposes for refrigeration, metallurgy, and production of synthetic fibres. Ammonia finds applications in the agricultural industry.
It is used in soil fertilizers for enhancing agricultural produce. The growing demand for ammonia has created a huge emphasis on the development of newer products, with ammonia at the core of these ingredients. The increasing emphasis on the research and development of newer products will have a direct impact on the growth of the market in the forthcoming years.
The report provides a detailed analysis of the ammonia market. It analyzes several aspects of the market, with primary focus on growth drivers, leading products, and a few growth restraints. Factual figures have been evaluated for the base year, historic period, and the coming years. Analytical data is extracted through extensive research methods, including a combination of top-down, bottom-up approaches, and a combination of primary as well as secondary research methods. The data provided in this report is gathered through opinions of world leaders. Market predictions have been made through a combination of prolonged research methods and interviews of experience market research professional. The competitive landscape has been discussed in detail. Additionally, the report discusses ongoing market trends and highlights leading elements that have made a positive impact on the global market value.
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Increasing Number of Ammonia-derived Fertilizer to Aid Ammonia Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. The growing efforts on product R&D, resulting from the benefits of ammonia on the overall crop produce have contributed to the growth of the market. In June 2019, Eurochem opened a new ammonia production plant in Russia.
The company invested over USD 1 billion, with an aim of delivering efficient fertilizers to customers across the world. The increasing demand for this product will lead to the initiation of newer fertilization plants in the coming years.
Asia Pacific to Witness Highest Growth Driven by Massive Use of Ammonia-based Fertilizers
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
The increasing use of ammonia in production of fertilizers by major companies across the Asia Pacific will contribute to the growth of the regional market. China is one of the major producers of ammonia fertilizers. Besides China, countries such as India and Japan will aid the growth of the market in this region.
Key Industry Developments:
October 2018: Qatar Fertilizer Company and Agro and Yara International reached an agreement for setting up greenhouse technologies test facilities across Qatar.
April 2017: Haifa Group opened a new subsidiary in Colombia to suffice the increasing plant nutrient solution needs in the country.
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