Know More About “Ammonia Market 2019-2025” Growth Worldwide…Posted by Mrudula Anil Karmarkar on December 23rd, 2020 The global ammonia market size is anticipated to reach USD 76.64 billion by 2025, at a registering a CAGR of 5.3% over the forecast period, 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. The current pandemic situation has created disruption in the manufacturing of agrochemicals by virtue of raw material availability. Furthermore, this continual trend shall have a cascading effect on food productivity and crop yields on economies that are predominantly agrarian, during a time when demand for Agri produce shall register a spike over the medium term. Governments across the developing world are vying to incrementally ease restrictions on the manufacturing of fertilizers and maintain seasonal agricultural activities in order to reduce concerns regarding food security, which is a critical indicator for determining the course of a supply gap in the industry. The report will account for Covid19 as a key market contributor. The 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. Further key findings from the report suggest:
Ammonia is a colorless and highly irritating with a sharp suffocating odor gas. It easily dissolves in water and forms an ammonium hydroxide solution. The solution can cause burns and irritation. The gas can be easily compressed, which forms a colorless & clear liquid under pressure. It is usually transported in steel cylinders in the form of compressed liquid. Moreover, it is not highly combustible but may explode when exposed to high heat. The U.S. market was valued at USD 5.76 billion in 2016 and is predicted to ascend at a CAGR of 5.2% from 2017 to 2025. The country is among the major producers of the product. Globally, the demand & supply ratio of the product is anticipated to move toward surplus, as the capacity addition is continuing to outpace consumption, resulting in declining utilization rates. This capacity addition is mostly increasing in the regions where the production cost is low and availability of the raw material, i.e. natural gas is high, especially in the Middle East and the U.S. Commercially, it is manufactured by the Haber-Bosch process. The process involves a direct reaction between elemental nitrogen & hydrogen in the presence of high temperature, catalyst, and elevated temperature. Several types of catalysis can be used in the process such as iron oxide, aluminum oxide, and magnesium oxide. In the laboratory, it is synthesized by the hydrolysis of a metal nitride. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/1240/ibb The global market is highly competitive in nature and is currently witnessing constant price fluctuations. The industry is marked by the presence of global as well as regional market players. The global players are investing in the research & development activities for innovating new and developed processes. Some of the global players operating in the industry include Yara International; BASF SE; CF Industries Holdings, Inc.; PotashCorp; Huaqiang Chem Group; Shanxi Jinfeng Coal Chem; Rashtriya Chemicals & Fertilizers Ltd.; China Petroleum & Chemical Corporation; and China National Petroleum Corporation. This report forecasts volume and revenue growth at the global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global ammonia market on the basis of product form, application:
About Grand View Research 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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com
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