Ammonia, also known as azane, is a
compound of nitrogen and hydrogen. It is a colorless gas with a pungent odor.
Ammonia is an essential source for many downstream nitrogen based products. It
acts as a nutritional supplement in foods and fertilizers. It also has various
applications in pharmaceutical industries and in cleansing products. Ammonia is
used for commercial as well as household applications making it one of the most
highly produced inorganic chemicals in the world.
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The abundant use of ammonia in
fertilizers and agricultural products is expected to drive the global market.
Moreover, the large production capacities in China are expected to make Asia
Pacific one of the key market segments in the ammonia market. Regions like
Russia, Germany, Ukraine, and other East-European countries contribute to
making Europe the other major market segment in the ammonia market.
The growth in fertilizer production
and demand is expected to be the primary driver for the growth in the ammonia
market. Acting as a vital source of nitrogen, which is a necessity for plant
growth, it promises strong demand in the near future. Also, ammonia acts as a
raw material for the preparation of nitric acid which is further used in the
production of explosives. Refrigeration is another important application of
ammonia, where it is used for cold storage, food preservation, and beverage
production. However, modest growth in other application segments of ammonia like
live stock, pharmaceuticals, plastics industry, paper industry, food industry,
and chemicals among others, is expected to augment the demand in the near
future.
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