India Ammonia Market, Led by Fertilizers, to Register an Impressive Growth Through 2028
Booming pharmaceutical and agriculture sector is
anticipated to drive the growth of India ammonia market in the coming years.
According to TechSci report on, “India Ammonia Market –
By Region, Competition Forecast & Opportunities, 2028”, the India ammonia market is projected to grow
at a formidable rate over the forecast period of 2024-2028.The market growth
can be attributed to the increasing usage of ammonia across various end-user
industries, including agriculture, pharmaceuticals, textiles, mining, pulp
& paper, etc. Rapid growth in population has led to even more demand for
food, which is creating a need for further adoption in fertilizers to maximize
the crop yield.
Agriculture
plays a crucial role in the economic development of agrarian India, and the
country ranks third in the global food grain production. With the proliferating
demand for quality food and limited availability of arable land, the demand for
ammonia-based fertilizers is expected to grow in the coming years. Apart from
this, ammonia is used extensively in the manufacturing of various drugs and
vaccines. The flourishing pharmaceutical sector in the country is also adding
to the growth of the market. The Indian pharmaceutical industry is the 3rd
largest pharmaceutical industry in the world by volume and is currently valued
at USD41 billion. The government of India has introduced several incentives to
support the domestic players and enhance the production of drugs and medicines.
This, in turn, has resulted in increased demand for ammonia in the
pharmaceutical sector. Apart from this, ammonia also finds widespread
application in the purification of water and acts as a source of nitrogen in
cold storage, waste and wastewater treatment, paper, pulp, and rubber
industries. All these aforementioned factors are anticipated to propel the
growth of the India ammonia market over the coming years.
Browse over XX market data Figures
spread through 70 Pages and an
in-depth TOC on "India Ammonia Market"
The
India ammonia market is segmented on the basis of grade, application,
manufacturing process, competitive landscape, and regional distribution. Based
on the grade, the market is divided between anhydrous and aqueous. The
anhydrous segment is expected to hold a significant market share in the coming
years due to its abundant availability in the gaseous form which contributes to
its easy application. Moreover, the widespread application of ammonia in fertilizers
is projected to propel the demand for anhydrous ammonia over the forecast
period.
By
application, the market is bifurcated into fertilizers, chemicals,
pharmaceuticals, electronics, refrigeration, household, food, and others. Among
these, the fertilizers segment is anticipated to hold a prominent market share
in the coming years. NH3 is a building block of ammonia fertilizer, which
releases nitrogen, an essential nutrient for plant growth. Farmers highly rely
upon ammonia fertilizers to increase the levels of essential nutrients such as
boron, zinc, and selenium and maintain the health of a crop. The growing
population across the country and the proliferating demand for quality food are
boosting the adoption of ammonia in the fertilizer segment.
A
list of major market players of the India ammonia market includes:
·
Chambal Fertilizers and Chemicals Company
·
Deepak Fertilizers and Petrochemicals
Corporation Ltd
·
Fertilizers and Chemicals Travancore (FACT)
Limited
·
Indian Farmers Fertilizer Cooperative Limited
(IFFCO)
·
Krishak Bharati Co-Operative Limited
(KRIBHCO)
·
Gujarat Narmada Valley Fertilizers and
Chemicals (GNFC)
·
Kanpur Fertilizers & Cement Limited
·
Mangalore Chemicals and Fertilizers Limited
(MCFL)
·
National Fertilizers Ltd.
·
Tata Chemicals Ltd.
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“The India ammonia market is further propelled by the coordinated
efforts of several manufacturers to make the ammonia industry 100% sustainable.
Top market players, along with the government, have released their green
ammonia objectives, in which the aim is to minimize carbon emissions and reduce
their hazardous effects of ammonia on the environment. In the conventional
method of producing ammonia, one ton of ammonia generates over two tons of
carbon. However, the green carbon method for ammonia production is likely to
reduce carbon emissions to minimal or even zero. Initiatives like these are
projected to result in regulatory relaxation from the government and open ample
of opportunities for the market players, which could augment the growth of the
ammonia market in India in coming years.,” said Mr. Karan Chechi, Research
Director, TechSci Research, a research based global management consulting firm.
“India Ammonia Market By Grade (Anhydrous,
Aqueous), By Application (Fertilizers, Chemicals, Pharmaceuticals, Electronics,
Refrigeration, Household, Food, Others), By Manufacturing Process (Steam
Reforming, Partial Oxidation, Cryogenic Separation, Coal Gasification) Region, Competition Forecast & Opportunities, 2027” has
evaluated the future growth potential of India 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 India ammonia market.
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