The Asia Pacific Ammonia market stood at nearly 8 million tonnes in 2022 and is expected to grow at a healthy CAGR of 7.63% during the forecast period until 2030.
Ammonia, also referred to as NH3, is a very efficient and 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, it is widely accessible and inexpensive.
The major driver of the Asia Pacific market is the fertilizer industry. The growing demand of ammonia from the Fertilizer sector in major economies in the Asia Pacific region such as India, China, South Korea, and Taiwan coupled will fertilizers demand will affect the ammonia market in the forecasted period. Green ammonia technology adoption is anticipated to be boosted by growing environmental concerns and strict regulations to reduce greenhouse gas emissions. The efforts towards the development of safer agricultural products and greener industrial chemicals are being paved with the value-added of green ammonia produced from renewable energy sources. The Asia Pacific ammonia market is projected to grow as a result of these factors and reach 14 million tonnes in the year 2030.
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.
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.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
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Objective of the Study:
• To assess the demand-supply scenario of Ammonia which covers production, demand and supply of Ammonia market in the Asia Pacific.
• To analyse and forecast the market size of Ammonia
• To classify and forecast Asia Pacific Ammonia market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Ammonia market in the Asia Pacific.
To extract data for Asia Pacific Ammonia market, primary research surveys were conducted with Ammonia manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Asia Pacific Ammonia market over the coming years.
ChemAnalyst calculated Ammonia demand in the Asia Pacific region by analyzing the historical data and demand forecast which was carried out considering the demand for Ammonia by the end-user industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Ammonia manufacturers and other stakeholders
• Organizations, forums and alliances related to Ammonia distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Ammonia s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Asia Pacific Ammonia market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
8 million tonnes
Market size Volume by 2030
14 million tonnes
Growth Rate
CAGR of 7.63% from 2023 to 2030
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2030
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2030
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade
Segments covered
By End-Use: (Agriculture & Fertilisers, Textiles & Pharmaceutical, Explosives, Refrigeration and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
China, India, Japan, South Korea, Malaysia, Indonesia, and Rest of APAC
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was Asia Pacific market size of Asia Pacific Ammonia market in terms of volume in 2022?
Ans:
The Asia Pacific market size of Ammonia has grown significantly in the historic period of 2015-2022 and reached approximately 8 million tonnes in 2022.
Q2.
Which industry is the major consumer of Asia Pacific Ammonia market?
Ans:
The Agriculture & Fertilisers industry is dominating the Ammonia market with a share of approximately 60% in 2022.
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