Ammonia, also known as azane, is a
compound of nitrogen and hydrogen. It is a colorless gas with a pungent odor.
Ammonia is an essential source for many downstream nitrogen based products. It
acts as a nutritional supplement in foods and fertilizers. It also has various
applications in pharmaceutical industries and in cleansing products. Ammonia is
used for commercial as well as household applications making it one of the most
highly produced inorganic chemicals in the world.
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The abundant use of ammonia in
fertilizers and agricultural products is expected to drive the global market.
Moreover, the large production capacities in China are expected to make Asia
Pacific one of the key market segments in the ammonia market. Regions like
Russia, Germany, Ukraine, and other East-European countries contribute to
making Europe the other major market segment in the ammonia market.
The growth in fertilizer production
and demand is expected to be the primary driver for the growth in the ammonia
market. Acting as a vital source of nitrogen, which is a necessity for plant
growth, it promises strong demand in the near future. Also, ammonia acts as a
raw material for the preparation of nitric acid which is further used in the
production of explosives. Refrigeration is another important application of
ammonia, where it is used for cold storage, food preservation, and beverage production.
However, modest growth in other application segments of ammonia like live
stock, pharmaceuticals, plastics industry, paper industry, food industry, and
chemicals among others, is expected to augment the demand in the near future.
One of the major factors that can
hold this market back is the fluctuating prices of natural gas, the major
feedstock for ammonia. Also, the toxic nature of ammonia in its applications is
a major cause for concern. However, environmentally, ammonia is a non-hazardous
gas as it does not contribute to global warming.
Some of the major players in the
ammonia market are Terra Industries, BASF SE, Agrium, Inc., Koch Nitrogen
Company, CF Industries, Inc., and Potash Corporation of Saskatchewan, Inc.
among others.
This research report analyzes this
market depending on its market segments, major geographies, and current market
trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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