Pune, India -- (SBWIRE) -- 02/23/2018 -- The report "Ammonia Market by Product Form (Powder, Gas and Liquid), Application (Textile, Pharmaceuticals, Refrigerants, Fertilizers, and Others) - Global Industry Analysis, Trends analysis and Forecast up to 2023 studies the world as well as regional markets including North America, Europe, Asia Pacific and RoW (Including Latin America, Middle East and Africa)", The global ammonia market size was worth USD 48.70 billion in 2016. According to report the global ammonia market is projected to grow at a CAGR of 5% over the forecast period of 2017 – 2023. Factors driving the growth of this market include extensive use of ammonia in fertilizers and agricultural products, increasing demand for ammonia to produce modified fertilizers and rising usage of ammonia for the cold storage purpose in the refrigerator.

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Liquid Ammonia is estimated to Account for the Largest Share of the Market In 2017

By product form, the ammonia market is classified into powder, gas and liquid. The liquid ammonia segment is expected to lead the global ammonia market in 2017. Factors driving the growth of this segment include increasing use of liquid ammonia in the refrigerators for cold storage, rising demand from household and commercial cleaning for liquid ammonia and for the composition of hydrogen & nitrogen.

Fertilizer is estimated to Command the Largest Share of the Market during the Forecast Period

Based on application, the ammonia market is categorized into textile, pharmaceuticals, refrigerants, fertilizers, and others. The fertilizer segment is estimated to account for the largest share of the global ammonia market during the forecast period. Growth in the production of fertilizer and demand from the end use industries, increasing demand from agricultural sector and rising usage in manufacturing of liquid fertilizers are the key factors driving the growth of this end-user segment.

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Asia Pacific is estimated to Command the Largest Share of the Market

Based on region, the ammonia market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia Pacific is expected to dominate the ammonia market in 2017. This is attributed to factors such as presence of largest producers of ammonia in the region, increasing efforts made by the manufacturers to meet the growing demand of ammonia-based fertilizers and increasing demand from the agricultural sector for ammonia-based fertilizers in the region.

Companies Covered in this Report:

The report profiles some of the key companies in the ammonia market including Shanxi Jinfeng Coal Chem, China National Petroleum Corporation, China Petroleum & Chemical Corporation, Rashtriya Chemicals & Fertilisers Ltd., Huaqiang Chemical Group, PotashCorp, CF Industries Holdings, Inc., BASF SE, and Yara International.

Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global ammonia market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of ammonia market.

Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the ammonia market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the ammonia market to understand the present and future trends in this market and formulate their strategies accordingly.