Albany, USA, 2017-Dec-07 — /EPR Network/ —A new report added to the repository of Market Research Reports Search Engine “Global Market Study on Ammonia: Agrochemicals End Use Segment to Hold over 45% Market Share throughout the Forecast Period 2017 – 2025” is a comprehensive repository of information, providing market share, size, and forecast.
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With more than 50% market share, APAC is anticipated to outshine other regions in the global ammonia market
The population is exponentially increasing in the Asia Pacific region, which leads to the growing demand for daily use products such as food, cosmetics, and so on. Obviously, the growing demand for these products leads to the growing demand for ammonia, as ammonia is used in manufacturing process or fertilizers. As rice, wheat, and few other food grains mainly grow in Asia Pacific region, ammonia as a fertilizers (Urea, MAP, DAP, etc.) leads to grow the global market for ammonia. Mining sector in APAC is also growing speedily since last few years. Particularly, countries like Indonesia and China are leading the mining sector in the region. The growing mining activities in the region are responsible for the increasing demand for explosives. Similarly India is also influencing the regional market of ammonia due to the growth of the pharmaceutical sector. As ammonia is used as a feedstock for the various products such as medicines and cosmetics, it will give a boost to the global ammonia market in the region.
Agrochemicals segment is expected to continue its market dominance over the forecast period
The Agrochemicals segment is considered to be a prominent segment with a higher market attractiveness. The segment is expected to grow with significant CAGR of 3.7% during the forecast period. This can be attributed to the increasing demand for fertilizers especially from India. The Agrochemicals segment is projected to create a total incremental $ opportunity of more than US$ 9,600 Mn between 2017 and 2025. This segment is expected to account for close to 50% share in the total global ammonia market in 2017.
Global Ammonia Market: Influential trends across key regional markets
North America: Growing preference for organic fertilizers
With the regular use of chemical fertilizers and pesticides, there has been a substantial decrease in the quality of soil across the globe. As a result, in order to meet the increasing demand for sustainable methods of agriculture, the demand for organic fertilizers is increasing. With the increasing demand for organic fertilizers in North America, growth of inorganic fertilizers might face challenges over the coming years, affecting the market growth of inorganic fertilizers.
Europe: Agreements of major market players with fertilizer companies
Over the past five years, fertilizer companies are found to have been involved in long-term agreements with other market players of the region, who are dealing with ammonia and its products, such as agrochemicals, industrial chemicals, explosives and others. For instance, in 2016, Yara International made an agreement with MicroAccount to acquire one of their business segment, the Farm Management System business in Bulgaria and Romania. This segment is associated with the trading of fertilizers and other agrochemicals.
APAC: Top market players are focusing on consolidation and expansion
Since last five years, an increase in the number of expansion activities has been witnessed in the ammonia market. This can primarily be attributed to the efforts being made by companies to meet the rising demand for ammonia based fertilizers and gain access to high-growth markets of Asia Pacific as well as to strengthen their foothold in the global market.
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Latin America: Increasing fertilizer production capacity
In Latin America, Argentina and Brazil are the prominent crop producer countries. The consumption of fertilizers in this region was around 11% of the global consumption. Particularly the consumption of fertilizers such as Urea, Mono-ammonium Phosphate, and Di-ammonium Phosphate was around 6.4 Mn Mt in 2015. According to the world export data, Trinidad and Tobago are the major exporter of ammonia, with the export capacity of 4.4 million tons. Additionally, fertilizer manufacturers are channelizing efforts to cater the increasing demand for urea and other fertilizers, which has resulted in an increase in demand for agrochemicals and, in turn, is expected to drive the growth of the ammonia market over the forecast period.
MEA: Integration with fertilizer manufacturers
The demand for ammonia for the production of modified fertilizers is increasing significantly. This demand accounted for approximately 46% of the global estimated demand for ammonia, which was pegged at approximately 62 million tons in 2016. Fertilizer manufacturers are focusing on establishing a direct supply chain with the oil & gas refineries to procure nitrogen directly from refineries and from chemical manufacturers in order to enhance the production, which will decrease the inventory cost and increase their operational efficiency.
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