Southeast Asia Ammonia Market Size To Reach A Volume Of 10.39 MMT By 2028
The ‘Southeast Asia Ammonia Market Size, Share, Analysis, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Southeast Asia ammonia market, assessing the market on the basis of its segments like type, application, and major countries.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Southeast Asia Ammonia Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): 9.12 MMT
• Forecast CAGR (2023-2028): 2.20%
• Forecast Market Size (2028): 10.39 MMT
Rising demands from the agricultural sector and rising ammonia use in explosive manufacture are expected to drive the Southeast Asia ammonia market expansion throughout the course of the projection period. Ammonia usage has increased as a result of the rising demand for fertiliser, which will increase the market’s value throughout the course of the forecast period.
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Ammonium is frequently used as a fertiliser because it is a significant provider of nutrients. As agriculture expands, there will likely be a corresponding rise in the demand for various agrochemicals like fertiliser, which indirectly raises the demand for ammonia, thus aiding the market growth. Additionally, there is an increase in demand for ammonia due to its use in water filtration.
Furthermore, ammonia serves as a fundamental component in the production of a wide range of goods, including plastics, explosives, textiles, insecticides, and colours. The increased demand for textile products and initiatives by governments in the region to support the textile sector are further projected to drive growth in the ammonium market during the ensuing years. Since ammonia has so many applications, end users anticipate a significant increase in demand for the Southeast Asia ammonia market during the upcoming years.
Southeast Asia Ammonia Industry Definition and Major Segments
Ammonia comprises of nitrogen and hydrogen atoms and is a gas which is clear and colourless, with a strong odour. It is a stable substance that is widely utilised in mining, textiles, pharmaceuticals, and as a fertiliser. Ammonia is a naturally occurring substance that is also used in the production of numerous commercial and industrial goods.
Based on type, the market is bifurcated into:
On the basis of application, the market is divided into:
Based on country, the market is segmented into:
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Southeast Asia Ammonia Market Trends
The Southeast Asia ammonia market has grown primarily due to the modernisation and rapid growth of the agricultural sector. With high rates of population growth, farmers everywhere are working towards significantly increasing agricultural output in order to keep up with the rising demand for various types of grain and other commodities both within the country and for exports. This necessitates a substantial amount of effective fertilisers which are produced using ammonia.
In the upcoming years, it is anticipated that the Southeast Asia ammonia market will see growth due to the increasing efforts made by businesses in this region to build ammonia power plants in order to investigate the use of this compound as a fuel for gas turbine and combined cycle systems.
Enhanced research activities towards further potential applications in pharmaceuticals are a key trend in the market that can open new avenues for growth. Improvements in the value chain are expected to further support the expansion of end-users and the ammonia market overall. The market is also likely to expand over the forecast period as a result of the anticipated rise in demand for refrigerants in the food processing industry.
Key Market Players
The major players in the Southeast Asia ammonia market report are Yara International ASA, PT Pupuk Kalimantan Timur (PKT), PETRONAS Chemicals Group Berhad, Brunei Fertilizer Industries Sdn Bhd (BFI), Linde plc, Teknogas (M) Sdn Bhd, NFC Public Company Limited, and Pride-Chem Industries, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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