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(IT-NEWSWIRE.COM, June 13, 2019 ) "Market Overview
The global ammonia market is expected to record a CAGR of over 5% during the forecast period of 2019–2024. The major factor driving the market studied is the growing demand in the agriculture industry and its increasing usage for the production of explosives.
- Hazardous effects of ammonia in its concentrated form is likley to hinder the growth of the market studied.
- Use of ammonia as a refrigerant is likely to act as an opportunity to the market studied during the forecast period.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India, and is further expected to remain the same in the future.
Request a sample of Ammonia Market report @ http://www.arcognizance.com/enquiry-sample/422440
Key Market Trends
Agriculture Industry Dominates the Market
- The agriculture industry dominates the global ammonia market, with an estimated market share of more than 80% in 2018. Ammonia is majorly used in fertilizers, and its usage has only been increasing through the years, thereby, driving its usage in the agriculture market, throughout the forecast period
- Fertilizers are plant nutrients and are hence required for growth of crops. The fertilizers market is also expected to expand, with agriculture production growing through the years (primarily owing to the growing population, increasing urbanization, and rising disposable income of individuals). Consumption of meat, dairy products, fish, sugar, fruits, and vegetables has been experiencing rapid growth than consumption of cereals.
- According to Fertilizer Outlook 2018 – 2022, demand for fertilizer is rising modestly in the global market owing to ample inventories and low prices for most crops; improving economic prospects in developed countries, Russia, Brazil, and Sub-Saharan Africa; and growing political uncertainty in several large fertilizer-consuming markets.
- Urea is a dry nitrogen material produced by reacting ammonia with carbon dioxide. Urea contains the highest percentage of nitrogen among the commonly used dry fertilizers and is rapidly replacing ammonium nitrate in recent years.
- According to the Food and Agriculture Organization of the United Nations, the world supply of ammonia was 159,490 thousand tonnes in 2016. In the year 2017, the supply of ammonia increased to 164,724 thousand tonnes. And in 2018, it further increased to 168,056 thousand tonnes, and it is expected to reach 171,433 thousand tonnes in 2019.
- Overall, the rising fertilizer market is expected to drive the ammonia consumption through the forecast period.
Asia-Pacific to Dominate the Ammonia Market
- In 2018, Asia-Pacific dominated the ammonia market, accounting for more than half of the consumption globally. With the increasing population in the countries, like China and India, the agricultural activities increased, which resulted in the increased consumption of ammonia-based fertilizers, thereby, driving the market.
- Apart from the agriculture industry, the demand for ammonia is increasing in industries, such as pharmaceutical, paper & pulp, food, petroleum, etc.
- China was the major consumer of ammonia in both the Asia-Pacific region and in the global market in 2018.
- The fertilizer sector is among the fastest growing industry in China and China is also the largest consumer of fertilizers in the world. Being the most populous country in the world, China has a huge demand for agricultural products. With just 11.3% arable land, there is a need to produce the crop, with a higher yield in order to meet the demand. In this way, the demand for food grains is driving the fertilizers market.
- China is currently the largest consumer and exporter of all three NPK macronutrient fertilizers (nitrogen, phosphorus, and potassium) globally. Fertilizer manufacturers in China produced more than 70 million tons of NPK fertilizers in 2017, which further rose through 2018. The country exported around USD 3.3 billion worth of these mixed chemical fertilizers in 2017 which further increased through 2018.
- Chinese farmers use an average of 305 kilograms of nitrogen per hectare per year, which is more than four times the global average. The country has also been a significant contributor to the increased use of fertilizers in the global market.
- China is a hub for chemical processing, accounting for a major chunk of the chemicals produced across the world. With the growing demand for organic and inorganic chemicals worldwide, the demand for ammonia from this sector is projected to grow, over the forecast period.
- Overall, the market for ammonia in Asia-Pacific region is anticipated to grow significantly through the forecast period.
Access this report of Ammonia Market @ http://arcognizance.com/report/ammonia-market-growth-trends-and-forecast-2019-2024
Competitive Landscape
The global ammonia market is fragmented in nature. The major companies include BASF SE, Yara, Qatar Fertiliser Company, SABIC, and EuroChem.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Buy The Report @ http://www.arcognizance.com/purchase/422440
Major Point of TOC:
Chapter One: INTRODUCTION
Chapter Two: RESEARCH METHODOLOGY
Chapter Three: EXECUTIVE SUMMARY
Chapter Four: MARKET DYNAMICS
Chapter Five: MARKET SEGMENTATION
Chapter Six: COMPETITIVE LANDSCAPE
Chapter Seven: MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Use of Ammonia as a Refrigerant
Request a sample of Ammonia Market report @ http://www.arcognizance.com/enquiry-sample/422440
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Analytical Research Cognizance
Avanti dengale
+91 90967 44448
avanti.dengale@arcognizance.com
Source: EmailWire.Com 
Source: EmailWire.com
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