Global Ammonia Market Analysis Report 2022-2026: Explosives Emerge as a Promising End-Use Market and Ammonia as a Refrigerant to Propel Market Gains – QNT Press Release

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DUBLIN, Oct. 7, 2022 /PRNewswire/ — The “Ammonia – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Global Ammonia Market to Reach $89.6 Billion by 2026

The global market for Ammonia estimated at US$69.8 Billion in the year 2022, is projected to reach a revised size of US$89.6 Billion by 2026, growing at a CAGR of 5.9% over the analysis period.

Liquid, one of the segments analyzed in the report, is projected to grow at a 7.2% CAGR to reach US$49 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Gas segment is readjusted to a revised 5.1% CAGR for the next 7-year period. This segment currently accounts for a 32.7% share of the global Ammonia market.

Ammonia is made available in powder, liquid, and gas formats, with the liquid form leading the market in revenue terms, given its widespread use in household and industrial cleaning solutions and in fertilizers. In the gas form, ammonia reacts with the moisture present in the soil, which leads to the soil being enriched with ammonia fertilizer. Anhydrous ammonia is anticipated to register strong growth, mainly attributed to its exceptional properties.

Among the other noteworthy geographic markets are Japan and Canadaeach forecast to grow at 2.8% and 5.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR while Rest of European market (as defined in the study) will reach US$26.2 Billion by the close of the analysis period.

Majority of the world’s ammonia requirement is produced from natural gas, with the sole exception of Chinawhich uses coal gasification techniques for ammonia production. Prior to its application to the soil, ammonia is processed to get downstream fertilizer products such as urea, nitrogen solutions, ammonium nitrates, ammonium phosphates, and ammonium sulfates, which promote plant growth in farm crops .

Consumption of ammonia is anticipated to grow slightly faster in industrial applications than in fertilizers through the forecast period. Ammonium nitrates produced from ammonia are used to produce explosives. Ammonia is also used to produce acrylonitrile for plastics and acrylic fibers, caprolactam for nylon 6, hexamethylenediamine for producing nylon 66, isocyanates for hydrazine and polyurethanes, and various nitriles and amines.

Further, ammonia is used in the manufacture of pesticides, chemicals, dyes, coloring agents, textiles, household cleaning products, and …

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