Ammonia Market Outlook: Post Covid-19 Scenario by 2028
Ammonia Market overview
Ammonia Market is projected to be worth USD 114.73 billion by 2028, registering a CAGR of 6.64% during the forecast period (2021 - 2028).
The growing demand in the agricultural industry and its the use for the manufacture of explosives are the key drivers of the studied market. The ammonia market sector has been undergoing a spike in the amount of expansion activities in the last five years. This can mainly be due to the efforts made by companies to satisfy the increasing demand for ammonia-based fertilisers and to gain access to Asia Pacific's high-growth markets, as well as to strengthen their global business presence.
The unforeseen outbreak of the COVID-19 pandemic has led to an alarming downturn in global manufacturing operations. The propagation of the pandemic has caused the market for ammonia to decline. Disruptions in exchange flows and logistics have had a detrimental effect on the fertiliser sector due to lockout steps taken worldwide to curb the spread of coronavirus, which impacts the Global Ammonia Market. Nevertheless, with an growing inclination to tackle the pandemic and open up markets, along with rising demand from the food and chemical sectors, demand for ammonia is expected to rise over the next five years.
Segmental Analysis
Global Ammonia Market has been segmented based on Form, Sales Channel, Application, and Region.
Based on form, the global ammonia market has been segmented into oil, powder, and gas. In 2018, the liquid form segment was priced at 19.82 billion USD. The gas type segment emerged, with a 4.34 percent CAGR during the analysis period, as the fastest-growing segment. The creation of the gas form category is that it is the purest kind and does not contain any molecules of water.
The industry is categorised into application-based fertilisers , pesticides, refrigeration, fibres and plastics , pharmaceuticals, pulp and paper, and others. More than 60% of the market share in 2018 was accounted for by the fertiliser application segment. Ammonia production is expected to be powered by increasing food demand against the backdrop of a developing global population.
The business is broken into primary channels and channels of distribution through the sales channel. With nearly one-fifth of the global ammonia market share, the direct channel segment led the global ammonia market in 2018.
Regional Overview
The industry is expected to see substantial growth in North America. There has been a significant decline in soil quality across the globe with the daily application of chemical fertilisers and pesticides. As a result, the need for organic fertilisers is rising to satisfy the growing demand for sustainable methods of agriculture.
In the Asia Pacific region, the population is growing exponentially, contributing to an increasing demand for goods for everyday use, such as food and cosmetics. As ammonia is used in the production process or in fertilisers, the rising market for these goods contributes to an increasing demand for ammonia. The region 's growing mining operations are responsible for the rising need for explosives. Similarly , India also has an impact on the regional ammonia market due to the development of the pharmaceutical industry. As ammonia is used for different goods such as drugs and cosmetics as a feedstock, it will improve the region 's global ammonia demand.
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Competitive Dashboard
the Global Ammonia Market include Yara (Norway), Nutrien Ltd. (Canada), CF Industries Holdings Inc. (US), Group DF (Ukraine), OCI NV (Netherlands), Qatar Fertiliser Company (Qatar), EuroChem Group AG (Switzerland), Acron (Russia), SABIC (Saudi Arabia), Orica Limited (Australia), Uralchem JSC (Russia), Togliattiazot (Russia), AB" Achema" (Lithuania),Indian Farmers Fertiliser Cooperative Limited (India), and Koch Fertilizer, LLC (US).
Companies such as CF Industries Holdings Inc., OCI NV, Yara, Nutrien Ltd, EuroChem Group AG, and GROUP DF are the major players operating in the global ammonia market.
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