According to a new report published by Persistence Market Research, “Australia Market Study on Ammonia: Industry Analysis and Forecast 2016-2024”, the Australian ammonia market is estimated to value US$ 680.1 Mn at the end of 2016, rising by 5.8% over 2015. The market is projected to expand at a CAGR of 6.3% through the forecast period in terms of value. The Australian ammonia market consumption figures recorded 1,324.9 KT in 2015.
Rising demand for explosives and industrial chemicals is expected to drive the Australian ammonia market as explosive manufacturers demanding ammonium nitrate is on the rise. Rising demand from the agriculture sector is also expected to boost the market as nitrogen-rich fertilizers such as DAP, MAP, and urea witness increasing demand. Ammonia is also used as a commercial refrigerant alternative for hydrofluorocarbons, driving the volume growth in the ammonia market. On the flipside, growing fertilizer imports and mutable prices of natural gas are major restraints in the Australian ammonia market.
In terms of product type, the Australia ammonia market is segmented as anhydrous ammonia, and aqua ammonia. The anhydrous ammonia segment is the leading segment and is expected to continue dominating the Australia market in terms of both value and volume, through the forecast period. The rising demand for explosives and fertilizers is a major driving factor for the expected market trend.
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In terms of application, the ammonia market in Australia is segmented as agrochemicals, industrial chemicals, explosives, and others. The industrial chemicals segment is the leading segment followed by explosives segment. The explosives segment is projected to reach the value of US$ 298.2 Mn at the end of 2024, registering a CAGR of 7.5% through the forecast period.
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In terms of end-use, the market for ammonia in Australia is segmented as ammonium nitrate, nitric acid, ammonium sulphate, urea, diammonium phosphate (DAP), monoammonium phosphate (MAP), and others. Nitric acid segment is projected to register strong growth through the forecast period to account for majority share in the Australia ammonia market in terms of both value and volume. The segment is estimated to account for 46.2% value share at the end of 2024, registering a CAGR of 7.9% through the forecast period. Ammonium nitrate segment is estimated to reach a value of US$ 172.0 Mn at the end of 2016, registering 7.3% growth over 2015.
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The Australia ammonia market is segmented on the basis of region into New South Wales, Victoria, Queensland, Western Australia, and Rest of Australia. Western Australia is the leading region with 33.8% share in 2015 and is estimated to value US$ 230.7 Mn at the end of 2016. Western Australia is followed by New South Wales with 28.4% share in the same period and is projected to register the highest CAGR of 7.2% in terms of value through the forecast period.
Orica Limited, CSBP Limited (Wesfarmers), Yara Pilbara Holdings Pty Ltd., and Incitec Pivot Ltd. are some of the major players in the Australia ammonia market. The market is consolidated with limited manufacturers and suppliers as companies are focusing towards production of ammonium nitrate for manufacturing of industrial explosives for the mining industry.
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