Market Synopsis of Ammonia Market:
Global Ammonia Market is expected to grow with the CAGR 4.2 % of more than from 2016 to 2022, and with this it is predictable to cross USD 180 Million by 2022.
The need for Ammonia is gradually rising due to constraining factors such as rising global population, increasing food demand and decreasing arable land, among others. Ammonia is a nutrient that contains nitrogen and hydrogen. Its chemical formula is NH3 in the un-ionized state and NH4+ in the ionized form. Total ammonia is the sum of both NH3 and NH4+. It is a key raw material used in many sectors such as food industries, research and development, pharmaceuticals agriculture, among others.it is widely used in refrigeration industry found in food, beverage, and cold storage industries. In the agricultural and farming sector, (Ammonia helps to correct magnesium deficiency) Ammonia is kind of fertilizer used in especially promoting healthier growth of plants such as tomatoes among others. However, allergic reactions such as skin infection, diarrhea or upset stomach these allergic reactions could hamper the growth of the market
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Key Players:
The key players in market includes
- BASF,
- Potashcorp,
- Yara International,
- CF Industries,
- Group DF,
- Togliatti,
- OCI Nitrogen,
- Agrium,
- Sabic,
- Koch Fertilizer
- others.
Regional analysis:
Asia-Pacific and Eastern Europe created huge global demand for ammonia. APAC is one of the growing region due to its economies, cheap labor cost in APAC and economical material [g1] used for production process. Moreover, Asia Pacific is projected to be the fastest growing market mainly due to fertilizers, pharmaceuticals, refrigerants, household, food and others applications. While, Middle East & Africa regions are at the emerging stage in the ammonia market.
Geographically, North-America is expected to be the largest market for ammonia accounting more than one third of the total market. North-America is most prominent market and its market share has accounted for second largest share in 2015, North America has been growing at faster pace due to rising manufacturing industries and demand for refractories will aid in rise in growth of ammonia market. U.S has accounted for the largest share in 2016.
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Scope of the study
The scope of the study categorizes the Ammonias market as type, and application.
• By Form
Liquid
Powder
• By Application
Fertilizers
Pharmaceuticals
Refrigerants
Household
Food
Others
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