The
global ammonia market is anticipated to reach USD 76.64
billion by 2025, according to a new report by Grand View Research, Inc.
Fertilizer is the major application of the product as well as an important
source of nitrogen in the agricultural industry, which is expected to benefit
the market over the forecast period.
Liquid
ammonia segment dominated the market in 2016. It is majorly used in fertilizer
and industrial & household cleaning applications. Ammonia is a colorless
and pungent alkaline gas composed of hydrogen and nitrogen. It is an essential
gas, which is used in various biological processes and industrial applications.
It causes irritation to the eyes, skin, nose, lungs, and throat. Globally
governments have established various safety-related regulations associated with
the production, usage, and transportation of the product. The regulations also
provide some directives for the equipment and methods used during the
production process and handling of ammonia.
Globally,
the gap between supply & demand of the product is gradually becoming
surplus, hence resulting in continuous price fluctuations. This gap is mainly
due to continuous capacity additions, especially in Southeast Asia (China and
Indonesia), Middle East, Central & South America, and the U.S. The
continuous increase in capacity additions and weakening of the demand owing to
lower crop prices, poor economic prospects, fluctuating energy prices, and
rising competition are anticipated to be the major challenges for the industry
over the forecast period.
U.S.
ammonia market revenue by product form, 2014 - 2025 (USD billion)
Browse full research report on Ammonia
Market: http://www.grandviewresearch.com/industry-analysis/ammonia-market
Further key findings from the study
suggest:
- The
global ammonia market was valued at USD 48.65 billion in 2016. The
industry is anticipated to reach USD 76.64 billion by 2025, ascending at a
CAGR of 5.3% from 2017 to 2025.
- Fertilizer
application segment dominated with over 40% of the overall share in terms
of revenue
- Rising
demand for nitrogen fertilizer owing to its advantages for application in
the agricultural sector is anticipated to boost the ammonia market over
the coming years
- Some of
the other major application industries of the product include household
& industrial cleaning, food & beverage, metallurgical processes,
water and wastewater treatment, rubber, pulp & paper, and leather
- Asia
Pacific dominated the industry in 2016 and is projected to be the
fastest-growing region over the forecast period
- The
industry is highly competitive in nature with the presence of various
global players
- Some of
the key market players are Yara International; BASF SE; CF Industries Holdings;
Inc.; PotashCorp; Huaqiang Chemical Group; Shanxi Jinfeng Coal Chemical;
Rashtriya Chemicals & Fertilizers Ltd.; China Petroleum & Chemical
Corporation; and China National Petroleum Corporation
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-ammonia-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, the company offers market intelligence studies
ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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