Global Ammonium Bicarbonate Market Trends, Applications, Analysis, Growth, and Forecast 2028
Global Ammonium Bicarbonate Market Introduction
“The global Ammonium Bicarbonate Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Ammonium bicarbonate is a colorless solid and inorganic compound with formula NH5CO3. Ammonium bicarbonate is bicarbonate salt of ammonium. It is used in food industry as a raising agent for baked goods such as crackers and cookies, and in fire-extinguishing compositions.
Rising demand for ammonium bicarbonate as a raising agent in the baking application is estimated to drive the growth of the potential market. Growing demand for agricultural grade ammonium bicarbonate as a low-cost nitrogen fertilizer in China is anticipated to support the growth of the target market over the next few years.
In addition, increasing demand for ammonium bicarbonate in fire-extinguishing, dyes and pigments, pharmaceuticals, and other applications, which in turn anticipated to support the growth of the ammonium bicarbonate market.
However, the availability of substitutes is a major factor anticipated to restrain the growth of the potential market.
Global Ammonium Bicarbonate Market: Type Analysis
Among the type segments, the agricultural grade segment is estimated to dominate the global market. Increasing demand for fertilizers to improve productivity is anticipated to support the growth of the segment over the long run. Food grade ammonium bicarbonate segment is anticipated to grow steadily over the next few years. Rising demand for ammonium bicarbonate in the food industry as a raising agent is projected to support the growth of the potential market.
Global Ammonium Bicarbonate Market: End-use Industry Analysis
Among the end-use industry segments, the agriculture segment is projected to register higher growth rate over the next few years. Increasing demand for ammonium bicarbonate in agricultural applications as fertilizers is anticipated to augment the growth of the segment over the long run. The food segment is anticipated to grow moderately over the next few years. It is a common leaving agent such as baking powder and baking soda used in the baking industry.
Global Ammonium Bicarbonate Market: Regional Analysis
Asia Pacific ammonium bicarbonate market is estimated to dominate the target market over the long run. Rising demand for agricultural grade ammonium bicarbonate in countries in the region is projected to augment the growth of the potential market in the Asia Pacific over a few years.
China is the largest manufacturer and consumer of ammonium bicarbonate. In addition, the growing food industry in countries such as India, China, Indonesia, and others is projected to drive the growth of the Asia Pacific ammonium bicarbonate market.
The Asia Pacific is anticipated to be the largest consumer of ammonium bicarbonate followed by the Europe market. The Europe ammonium bicarbonate market is projected to register moderate growth over the next few years.
In addition, rising demand for agricultural grade ammonium bicarbonate is projected to support the growth of Europe ammonium bicarbonate market.
Global Ammonium Bicarbonate Market Segmentation:
Segmentation by Type:
- Agriculture Grade
- Food Grade
- Technical Grade
Segmentation by End-use Industry:
- Rubber and Leather Industry
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- BASF SE
- Sumitomo Chemical Co., Ltd.
- ADDCON GROUP GmbH
- Mangalore Chemicals & Fertilizers Limited
- Anhui Haoyuan Chemical Group Co., Ltd.
- Xinji JiuYuan Chemical Industry Co., Ltd.
- Shandong Weijiao Holdings Group Co., Ltd.
- Shandong Hualu-Hengsheng Chemical Co., Ltd.
- Merck KGaA
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