Global Ammonia Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

The Ammonia Market Report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.

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The Ammonia Market Report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global ammonia market report has been segmented on the basis of product form, application, and region.

Ammonia Market Overview:

The Ammonia Market was valued at $70 million in 2021 & is projected to reach $112 million by 2027. It is expected to grow at a 5.8% CAGR between 2021 and 2027.

Ammonia is a colorless gas with a pungent smell, which when dissolved in water gives a strongly alkaline solution. A solution of ammonia is used in various applications in pharmaceutical industries and acts as a cleansing fluid. Ammonia also acts as a natural supplement in foods and fertilizers, and household applications.

The increasing adoption of ammonia in fertilizers and agricultural products is a key factor expected to drive the growth of the global market in the near future. In addition, ammonia is used as a raw material for the production of nitric acid, which is another factor expected to fuel the growth of the target market.

Moreover, refrigeration is one of the important applications of ammonia used for the purpose of food preservation, cold storage, and beverage production, which is further expected to support the growth of this market in the near future.

However, fluctuation in the price of natural gas which is a feedstock for ammonia is a key factor expected to restrain the growth of the global market over the forecast period. In addition, the toxic nature of ammonia in its applications is another factor expected to hamper the growth of the target market.

An ongoing trend observed in the market is shifting individuals’ preferences toward the consumption of dietary.

Increasing research and development activities for developing new formulations for ammonia is expected to create lucrative opportunities for players operating in the target market over the forecast period.

The market in the Asia Pacific dominates the global market in terms of revenue over the forecast period, owing to increasing demand for ammonia-based fertilizers and high production and consumption rate, especially in China.

The market in North America is expected to account for the second-highest share in the target market, owing to the increasing demand for organic fertilizers in various countries in this region.

Global ammonia market segmentation:

Segmentation by product form:

• Liquid
• Gas
• Powder

Segmentation by application:

• Fertilizers
• Refrigerants
• Pharmaceuticals
• Textile
• Others

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa