Ammonium Carbonate Market is Anticipated to Witness High Growth Owing to Wide Usage in Agriculture Industry
Ammonium carbonate, also known as Sal ammoniac, is an inorganic salt with the chemical formula (NH4)2CO3. It dissociates into ammonium cations and carbonate anions in polar solvents such as water. Ammonium carbonate has several applications in the agriculture, food, plastic, and pharmaceutical industries due to its versatile properties such as non-toxicity, decomposition into ammonia and carbon dioxide upon heating. It is commonly used as a fertilizer, baking powder, flame retardant, leavening agent, and plastic compounding agent.
The Ammonium Carbonate market is estimated to be valued at US$ 927.8 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Ammonium Carbonate market are Bayer CropScience, Shanghai Mingdou Agrochemical Co. Ltd, Taixing Dongyu Chemical, Oasis Fine Them, Taixing Experimental Chemical, Akash Purochem Private Limited, Shanghai Tenglong Agrochemical Co. Ltd., Monsanto, BASF SE, Yixing Waxing Chemical, P J Chemicals, Syngenta AG, SinoHarvest Corporation, Vinipul Inorganics India Pvt. Ltd., Nike Chemical, Foxkem Industries, Mubychem Group, Dhanlaxmi Pigments Pvt. Ltd, CDH Fine Chemical, and Haihang Industry.
The key opportunities in the Ammonium Carbonate Market Demand include its increasing demand from the agriculture sector as a fertilizer, expanding applications as a leavening agent in baking powder and use as a flame retardant in plastic and textile industries. The market players are focusing on expanding their production facilities and geographical presence across Asia Pacific, North America, and Europe to tap the growing demand for ammonium carbonate globally.
Market Drivers and Restraints
The primary driver for the growth of the ammonium carbonate market is its wide usage as a fertilizer in the agriculture industry. Ammonium carbonate is a source of both nitrogen and carbon and facilitates the growth of plants and crops. Moreover, increasing food production and demand for high-yield hybrid seeds is further driving its adoption.
However, stringent regulations regarding the emissions of ammonia gas during the production of ammonium carbonate may restrain the market growth. The decomposition of ammonium carbonate generates ammonia which is a regulated emission. Additionally, availability of substitute chemicals may also challenge the demand for ammonium carbonate over the forecast period.
Segment Analysis
The ammonium carbonate market is dominated by the fertilizer sub segment. Ammonium carbonate is widely used as a fertilizer in agricultural sector due to its nitrogen and carbon content. It provides nutrients to plants and enhances their growth. Being soluble in water, ammonium carbonate gets easily absorbed by plants which makes it a preferred fertilizer chemical over others. Its widespread application in enhancing yields of crops like rice, wheat, corn etc. has resulted in this sub segment capturing over 60% of the total ammonium carbonate market share.
The other major sub segment is pharmaceuticals which utilizes ammonium carbonate as a leavening agent. It is used to increase volume and lighten texture of various medicines. Around 25% of the market is occupied by pharmaceutical applications of ammonium carbonate. Its acid-base reactions producing carbon dioxide which causes medicines to rise make it suitable for use in effervescent tablets and powders.
Global Analysis
Regionally, Asia Pacific dominates the global ammonium carbonate market and accounts for around 35% of total demand. This is majorly due to the large scale agricultural activities and huge population in countries like China and India which are among the leading consumers of fertilizers. A big portion of globally produced ammonium carbonate is consumed in Asia Pacific region for ensuring food security. North America holds the second position while Europe contributes over 20% to the overall ammonium carbonate market. Latin America and Middle East & Africa are projected to emerge as high growth regions over the coming years.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
(https://www.linkedin.com/in/money-singh-590844163)
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