According to TechSci Research report, “Global Ammonia
Market By Grade, By Application, By
Manufacturing Process, By Region, Competition, Forecast & Opportunities,
2025”, the global ammonia market is forecast to reach $ 68 billion by 2025
owing to increasing demand from chemicals, fertilizers and pharmaceutical
industries. Growing global fertilizer industry is expected to continue
augmenting demand for ammonia over the next five years. However, global
lockdown due to onset of COVID-19 has resulted in disruptions in the entire
supply chain and decline in demand across major end use applications, globally,
which is expected to negatively affect ammonia consumption in 2020.
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The global ammonia market is segmented based on grade,
application, manufacturing process, and region. Based on grade, the global
ammonia market is bifurcated into Anhydrous and Aqueous segments, of which
Anhydrous holds the majority share due to its high demand in fertilizer market
on account of its ease of availability and lower cost. Based on Application,
the market can be fragmented into Fertilizers, Chemicals, pharmaceuticals,
Electronics, Refrigeration, Household, Food, and Others. Fertilizers segment is
expected to continue its dominance during the forecast period since nitrogen
based products are abundantly used in agriculture sector, globally. Region
wise, APAC is likely to dominate the global ammonia market over the next five
years, majorly due to high consumption in China and India.
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COVID-19 pandemic is having a significant impact on the
global demand scenario for ammonia, at least in the near term. Lockdown
measures across the globe are negatively affecting the global fertilizer
industry, which is resulting in declining demand for ammonia. This is expected
to translate into negative growth of the global ammonia market in 2020.
Nevertheless, with rising inclination towards opening up economies, demand for
ammonia is forecast to witness revival and grow over the next five years.
Major players operating in the global ammonia market include
CF Industries Holdings, Yara International, Nutrien Fertilizer, OCI NV, Ostchem
Holdings, Ma’aden Phosphate, Mosaic Crop Nutrition, Eurochem Group AG, among
others. “Global ammonia market is
witnessing steady growth and is expected to continue rising in the coming years.
Market growth is anticipated on account of growing agriculture sector, majorly
in Asia-Pacific, which will result in higher consumption of fertilizers, and
consequently ammonia in the foreseeable future. Moreover, growing chemicals and
pharmaceuticals sectors are also expected to positively influence the global
ammonia market in the medium to long term.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
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