The Global Ammonia Market is predicted to demonstrate 4.2% CAGR during the forecast period (2016-2022) owing to the fertilizer industry, asserts Market Research Future (MRFR). Ammonia is referred to as a nutrient which consists of hydrogen and nitrogen. While in an ionized state, the chemical formula of ammonia is NH4+, its formula is NH3 in the un-ionized state. A colorless alkaline gas possessing pungent odor and sharp smell, ammonia is utilized in several industries like pharmaceuticals, fertilizers, household, refrigerants, food, and others. The compound is mainly used to manufacture urea, ammonium sulfate, and ammonium phosphates.
Drivers and Constraints Impacting the Market:
The Global Ammonia Market is estimated to expand at a fast pace owing to several driving factors. With the ever-increasing population, rising disposable income in developing economies such as Brazil, Indonesia, and India, are triggering the demand for agricultural products. This is likely to fuel the market growth during the estimated period. Also, a shift in dietary consumption in developed regions are estimated to drive the market growth. The abundant use of ammonia in the agricultural industry is predicted to foster the market growth in the coming years. Being a valuable source of nitrogen, ammonia is one of the majorly used raw materials in the production of fertilizers. Ammonia is also used in the manufacturing of liquid fertilizer solutions which consist of ammonium nitrate, aqua ammonia, and urea. With the change in agricultural techniques, the use of ammonia has increased in the past few years. The accelerating focus on the consumption of energy is predicted to fuel the ammonia usage as a refrigerant in order to offer safe and sustainable energy saving refrigeration. As a part of the natural refrigerants, ammonia is recognized as the most ecologically friendly refrigerant. It possesses zero Ozone Depletion Potential and Global Warming Potential, thereby triggering the market growth globally.
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On the flip side, the augmenting price of natural gas is considered to dampen the market growth during the appraisal period. As ammonia possesses hygroscopic nature, it migrates to the moist areas of the body such as the nose, eyes, moist skin, and throat and can lead to severe burn injuries. Also, respiratory and skin-related diseases are caused by exposure and higher concentrations of ammonia. Such factors are predicted to inhibit the market growth in the coming years.
Global Ammonia Market: Segmental Analysis
The Global Ammonia Market has been segmented on the basis of Form and Application.
By Mode of Form, the Global Ammonia Market has been segmented into powder and liquid. Among these, the liquid ammonia is likely to occupy a larger market share as it is a major source for nitrogen fertilizers as is the preferred source for producing highly concentrated nitrogen fertilizers. Liquid ammonia is also used in cleaning applications as well as a refrigerant. It is slowly replacing CFC owing to global warming and ozone layer depletion. Such factors are anticipated to fuel the liquid form in the coming years.
By Mode of Application, the Global Ammonia Market has been segmented into pharmaceuticals, fertilizers, household, refrigerants, food, and others. Among these, the fertilizer segment is estimated to expand at a faster pace during the appraisal period owing to the growth in agricultural activities due to the accelerating population.
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Geographically, the Ammonia Market span across regions namely, Europe, Asia Pacific, North America, and Rest-of-the-World (RoW).
Among all the regions, the Asia Pacific region is considered to experience the fastest growth rate owing to the increasing pharmaceuticals and fertilizers industry. As the region covers almost 60% to 65% of the world’s population, the region is predicted to face issues regarding food insufficiency in the coming years. This will further result in the increasing need for food production. The use of ammonia in the agricultural sector will increase the productivity of food. In the last few years, there has been an increase in the expansion activities in the ammonia market in this region owing to the efforts made by the companies in order to meet the augmenting demand for ammonia-based fertilizers.
The North American region is considered one of the major producers of ammonia. With natural gas covering over the maximum percentage of the nitrogen fertilizer production cost, the availability of low-priced natural gas is predicted to drive the market in this region.
In April 2018 BASF and Yara International ASA initiated a new world-scale ammonia plant in Freeport, USA. Yara and BASF SE hold 68% and 32%, respectively. The plant also possesses a capacity to produce 750-kilotons of ammonia every year.
The prominent players operating the Global Ammonia Market are CF Industries, Koch Fertilizer, PotashCorp, Togliatti, BASF, Yara International, Agrium, OCI Nitrogen, Sabic, Group DF, and others.
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