The Global Ammoniamarket size is expected to gain momentum from its increasing usage inmultiple processes, such as production of synthetic fibers, metallurgy, and
coolant in refrigeration. The Global Ammonia industry size is projected to grow
from USD 71.98 billion in 2021 to USD 110.93 billion in 2028 at a CAGR of 6.4%
during the 2021-2028 period. Ammonia is a colorless gas made of nitrogen and
hydrogen. It has a pungent smell. This information is given in an upcoming
report by Fortune Business Insights™, The report further statesthat the gas possesses several beneficial properties. It can decompose to yield
hydrogen. It is also very miscible in water, in the presence of catalysts, and
at high temperature.
This Report Answers the FollowingQuestions:
- What are the historic, current, and estimated sizes of the market?
- Which region is anticipated to dominate the market in terms of revenue?
- What are the market trends, challenges, opportunities, and dynamics?
- How will the companies intensify competition in the coming years?
Source:
Drivers and Restraints-
Rising Usage in Textile and AgricultureIndustries to Boost Growth
Ammonia is experiencing high demandfrom the agriculture and textile end-use industries. The main reason for this
is that the gas is extensively used for soil fertilizers and dyeing,
respectively. It is also used for producing various chemicals, such as ammonium
phosphate, ammonium sulphate, and urea. Besides, the rising population across
the globe is further resulting in the high demand for crops. Hence, ammonia is
being used for producing them. However, the gas can have harmful effects on
humans as it is corrosive, reactive, and flammable in nature.
