Ammonia Market is forecast to grow at a CAGR of 4.60% during the forecast period 2030

NEW YORK - May 31, 2022 - PRLog -- According to ChemAnalyst report, "Ammonia Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030", Ammonia market has witnessed significant growth as it reached 11.38 million tonnes in 2020 and is anticipated to achieve a healthy global CAGR of 4.60% in the forecast period until 2030. With the increasing utilization of Ammonia by the agriculture industry as they are highly used in fertilizers is expected to flourish the Ammonia market across the globe in the next few years. However, the hazardous effects of ammonia in its concentrated form can somehow hinder the market growth in upcoming years.

Ammonia referred by its molecular formula NH₃ is an organic compound consisting of Nitrogen and Hydrogen. It is a colorless, highly reactive, and soluble gas with a pungent smell. Ammonia is considered as a building-block chemical and a key component widely used in the manufacturing of day-to-day products. Naturally Ammonia is present in plants, soil, air, water, animals and humans. The global production of Ammonia is done on a large industrial scale by the steam reforming of natural gas, which it is converted into liquified petroleum gas, or petroleum naphtha to produce hydrogen, which is further combined with nitrogen to produce Ammonia through the Haber-Bosch process.

Ammonia is considered an important chemical which can be used in various sectors and for many different purposes. Ammonia serves as a fuel in energy production and engines, a key feedstock chemical, the main ingredient for cleaning products, and a refrigerant for cooling systems. It is extensively used in a wide of applications including pesticides, fertilizers, explosives, refrigerant gas, plastics, textiles, dyes, wastewater treatment, leather, rubber, paper, and others. One of the major end-uses for Ammonia is fertilizers. About 80% of the industrially produced ammonia is utilized in agriculture as fertilizers which helps in increasing the essential nutrient levels, like zinc, selenium, boron, etc. Ammonia is widely used in the household cleaning applications as a cleaning agent for the removal of stains or clean mirrors, tubs.

Read Full Report Here: https://www.chemanalyst.com/industry-report/ammonia-market-631

Major Players:

• BASF SE,
• Nutrien Ltd.,
• Rashtriya Chemicals and Fertilizers Limited (RCFL),
• Praxair Technology, Inc.,
• EuroChem Group,
• SABIC,
• CF Industries Holdings, Inc.,
• Koch Fertilizer,
• Yara International ASA,
• China National Petroleum Corporation,
• LLC,
• Qatar Petroleum
• Others.