According to a new report, published by KBV research, The Global Ammonia Market size is expected to reach $306.7 billion by 2030, rising at a market growth of 5.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,13,071.9 Kilo Tonnes, experiencing a growth of 4.6% (2019-2022).
The Anhydrous segment is leading the Global Ammonia Market, By Product Form in 2022, thereby achieving a market value of $183.6 Billion by 2030. The liquefied/anhydrous form is another typical solvent used in manufacturing synthetic fibers like nylon and rayon. This is because it can dissolve various polymers, making it an ideal solvent for the spinning process. In addition, the pharmaceutical industry uses liquid NH3 to produce numerous drugs. It is frequently employed as a reagent or solvent in chemical reactions that produce the required compounds for these drugs. In addition, the product's liquefied form is commonly used as a leaching agent in the mining sector. In this application, it is used to extract valuable metals from their ores, such as copper and nickel.
The Refrigerants segment is showcasing a CAGR of 7.1% during (2023 - 2030). Due to its superior thermodynamic properties, ammonia is a popular refrigerant. Unlike CFCs and HFCs, NH3 has zero potential for ozone depletion, zero potential for global warming, and is nonflammable. It is also reasonably inexpensive and widely accessible. In addition, NH3 is commonly employed in minor refrigeration applications, such as ice rinks, freezers, and food processing plants. It is also utilized in large-scale industrial refrigeration applications, such as the chemical, oil, and gas processing industries.
The Asia Pacific region dominated the Global Ammonia Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $161.3 Billion by 2030. The North America market is poised to grow at a CAGR of 5.3% during (2023 - 2030). Additionally, The Europe market would witness a CAGR of 6% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/ammonia-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of SABIC (Saudi Arabian Oil Company), Linde PLC, Yara International ASA, Nutrien Limited, BASF SE, Sumitomo Chemical Co., Ltd., Koch Industries, Inc. (Molex LLC), CF Industries Holdings, Inc., Qatar Fertiliser Company (Industries Qatar), and PJSC Togliattiazot.
By Product Form (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Geography (Volume, Tonnes, USD Thousands, 2019-2030)
Companies Profiled
Unique Offerings 
