Ammonia Market Analysis
End-user (Pharmaceutical, Fertilizer, Pulp & Paper, Refrigerators, Textile, Mining)
The global ammonia market is segmented and analyzed for demand and supply by end-user into pharmaceutical, fertilizer, pulp & paper, refrigerators, textile, mining, and others. Out of these, the fertilizer segment is anticipated to hold the largest market size by the end of 2037 on the account of rising utilization of biofertilizers, the increasing need for food crops, and the rising population. It is estimated that the world’s population reached about 8 billion by 2022 and is projected to reach 10 billion by the end of the century.
Our in-depth analysis of the global market includes the following segments:
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Major Macro-Economic Indicators Impacting the Market Growth
Chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.
