According to ChemAnalyst report, “Asia Pacific Ammonia Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, 2015-2030”, The Asia Pacific Ammonia market has expanded remarkably in the historic period of 2015-2022 and is expected to grow at a CAGR of 7.63% reach roughly 14 million tonnes during the forecast period and by 2030. The rising demand from Agriculture & Fertilisers, Textiles & Pharmaceutical, Explosives, and Refrigeration end-use industries is expected to hike the demand for the Ammonia market in the forecast period.
Ammonia, also known as NH3, is a very popular nitrogen source for plant growth in the agriculture sector. Ammonia is a key constituent in ammonium nitrate fertiliser, which creates nitrogen, an essential element for growing plants like agricultural crops. It can also be converted into several common Nitrogen-based fertilizers like ammonium nitrate. Ammonia is also employed in the production of textiles, plastics, medicines, dyes, insecticides, and other compounds, as well as refrigerant gas. Additionally, it serves as a neutralizer, stabiliser, and nitrogen supplier in numerous downstream industries such as rubber, pulp & paper, food & beverages, cold storage, and wastewater treatment. In comparison with CFCs and HFCs refrigerants, NH3 has no risk to deplete the ozone layer and cause global warming. Additionally, ammonia is widely accessible and inexpensive.
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High fertiliser consumption are projected to increase as a result of the expanding population and rising food demand across APAC. In terms of crop output and agricultural productivity, the fertiliser sector is crucial. The essential nutrients that plants require to thrive, such as nitrogen, phosphorus, and potassium (NPK), are provided by fertilisers. The adoption of nitrogenous fertilisers is probably being driven by the rising global popularity of commercial agriculture. The market for these fertilisers is reliant on the demand for grains and oilseeds crops, which fuels fertiliser production as a whole. Additionally, there is a huge opportunity in using green ammonia as a feedstock for the creation of fertilisers and other uses. Green ammonia can be utilised as a fertiliser as well as a zero-carbon fuel in industries including transportation, heating, and electricity. Significant steps by the governments towards sustainable farming is anticipated to give green ammonia a chance of gaining popularity.
The Asia Pacific Ammonia market is segmented based on end-use, sales channel, and region. Based on the end-user industry, the Asia Pacific Ammonia market is segmented into Agriculture & Fertilisers, Textiles & Pharmaceutical, Explosives, Refrigeration, and Others. Although, Agriculture & Fertilisers industry is consuming the majority of Ammonia and held a market share of approximately 60% in the year 2022. Ammonia is used to produce ammonium nitrate which is a common industrial chemical component in fertilisers and as a component of explosives used in mining and quarrying. In the coming years, it's expected that the rapidly expanding need for refrigeration gas caused by the rising consumption of frozen food and fresh meat items will boost the market growth for ammonia.
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“Asia Pacific Ammonia Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, 2015-2030” Major players in the Asia Pacific Ammonia market are Chambal Fertilisers and Chemicals Limited, Deepak Fertilisers and Petrochemicals Corporation Ltd, Gujarat State Fertilizer & Chemicals (GSFC), Indian Farmers Fertiliser Cooperative Limited (IFFCO), National Fertilisers Ltd, Nagarjuna Fertilisers & Chemicals Ltd., Tata Chemicals Ltd., Yihua Group, Sinopec Group, Henan Xinlianxin, Fudao Chem Ind Corp,, Jiujiang Petro-Refine, and Others.
“Ammonia is widely used to manufacture ammonium nitrate, which is one of the most commonly used fertilizer component. The demand for Ammonia is expected to continue to rise over the projected period with rise in demand of nitrogen-based fertilizers, increasing population across Asia Pacific in response to rapid urbanisation and industrialization, which further raises the demand for crops. India and China are the key manufacturers of ammonia owing to the presence of abundance of raw materials. Furthermore, green ammonia is anticipated to be lucrative towards sustainable farming owing to its zero-carbon emission production process. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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