Ammonia Market, Led by APAC, to Reach $ 68 Billion by 2025
According
to TechSci Research report, “Global
Ammonia
Market By Grade, By Application, By
Manufacturing Process, By Region, Competition, Forecast & Opportunities,
2025”, the global ammonia market is forecast to reach $ 68 billion by
2025 owing to increasing demand from chemicals, fertilizers and pharmaceutical
industries. Growing global fertilizer industry is expected to continue augmenting
demand for ammonia over the next five years. However, global lockdown due to onset of COVID-19 has resulted in disruptions
in the entire
supply chain and decline in demand across major end use applications, globally,
which is expected to negatively affect ammonia consumption in 2020.
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111 market data Figures spread through 110 Pages and an
in-depth TOC on "Global Ammonia Market"
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The global ammonia market is segmented based on grade, application,
manufacturing process, and region. Based on grade, the global ammonia market is
bifurcated into Anhydrous and Aqueous segments, of which Anhydrous holds the
majority share due to its high demand in fertilizer market on account of its ease
of availability and lower cost. Based on Application, the market can be
fragmented into Fertilizers,
Chemicals, pharmaceuticals, Electronics, Refrigeration, Household, Food, and Others.
Fertilizers segment is expected to continue its dominance during the forecast
period since nitrogen based products are abundantly used in agriculture sector,
globally. Region wise, APAC is likely to dominate the global ammonia market
over the next five years, majorly due to high consumption in China and India.
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COVID-19 pandemic is having a
significant impact on the global demand scenario for ammonia, at least in the
near term. Lockdown measures across the globe are negatively affecting the global
fertilizer industry, which is resulting in declining demand for ammonia. This
is expected to translate into negative growth of the global ammonia market in
2020. Nevertheless, with rising inclination towards opening up economies,
demand for ammonia is forecast to witness revival and grow over the next five
years.
Major
players operating in the global ammonia market
include CF Industries Holdings, Yara International,
Nutrien Fertilizer, OCI NV, Ostchem Holdings, Ma’aden Phosphate, Mosaic Crop
Nutrition, Eurochem Group AG, among others. “Global ammonia
market is witnessing steady growth and is expected to continue rising in
the coming years. Market growth is anticipated on account of growing
agriculture sector, majorly in Asia-Pacific, which will result in higher
consumption of fertilizers, and consequently ammonia in the foreseeable future.
Moreover, growing chemicals and pharmaceuticals sectors are also expected to
positively influence the global ammonia market in the medium to long term.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Global Ammonia Market By Grade, By Application, By Manufacturing Process, By
Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Ammonia market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in the global ammonia market.
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