Aqua Ammonia Market Size, Share, Growth, and Industry Analysis, (Industrial Grade Aqua Ammonia, Electronic Grade Aqua Ammonia, Pharma Grade Aqua Ammonia and Others), By Application (Agriculture Industry, Rubber Industry, Leather Industry, Pharmaceutical Industry, Pulp and Paper Industry and Others), Regional Insights and Forecast to 2032

Updated On: 22 April 2024

AQUA AMMONIA MARKET REPORT OVERVIEW

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global aqua ammonia market size was USD 594.56 million in 2021 and market is projected to touch USD 769.52 million by 2032 at CAGR 2.37% during the forecast period.

Ammonia gas (NH3) dissolved in water (H2O) forms a solution known as aqua ammonia, or ammonium hydroxide. It is a typical chemical compound with a wide range of domestic and commercial uses. Depending on the intended use, aqua ammonia solutions can have ammonia concentrations ranging from 5% to 30%. Aqua ammonia needs to be kept away from incompatible materials in a cold, well-ventilated space. To stop ammonia gas from escaping, it should be stored in containers that are well sealed.

COVID-19 Impact: Pandemic Caused Instability in Demand and the Turmoil in Supply Chain Tranquilized the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Numerous sectors' worldwide supply networks have been thrown off balance by the epidemic. Movement restrictions, lockdowns, and other measures have affected chemical manufacturing, distribution, and transit, which may have an effect on Aqua Ammonia's supply. Throughout the epidemic, there have been swings in the demand for certain chemicals. Due to varying priorities and economic uncertainty, demand patterns for Aqua Ammonia may have changed in industries that rely significantly on it, such water treatment and agriculture (for fertilizers).

LATEST TRENDS

"Sustainable Practises, Environment Regulations and Water Treatment Solutions to Refurbish the Market Growth"

In the chemical sector, sustainability is becoming more and more important. For the purpose of producing aqua ammonia, businesses could be using waste reduction strategies, sustainable sourcing methods, and environmentally friendly production techniques. A greater emphasis on water quality and evolving environmental restrictions may have an impact on the usage of aqua ammonia in water treatment procedures. Businesses can be modifying their procedures and goods to comply with changing standards.

AQUA AMMONIA MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into industrial grade aqua ammonia, electronic grade aqua ammonia, Pharma grade aqua ammonia and others.

Industrial Grade: High quality for industrial use Generally speaking, aqua ammonia is less pure than other classes. It could have contaminants in it that are appropriate for some industrial purposes but inappropriate for more delicate applications.

Pharma Grade (Pharmaceutical Grade): To satisfy the demanding specifications of pharmaceutical and biotechnology applications, a higher degree of purity is used in the production of Pharma-grade Aqua Ammonia. It is put through more stringent quality control procedures to make sure it satisfies requirements for usage in pharmaceuticals.

Electronic Grade: Electronically graded Out of the three, aqua ammonia has the greatest purity level. Because of its production's incredibly low impurity levels, it may be used in the electronics sector, where even minute amounts of pollutants can have an impact on how well electronic components function.

• By Application

Based on application the global market can be categorized into agriculture industry, rubber industry, leather industry, pharmaceutical industry, pulp and paper industry and others.

The agriculture sector is a frequent supply of ammonia needed to make fertilizers with a nitrogen basis. Ammonia is a nutrient that plants require to flourish, therefore fertilizers are important for increasing agricultural yields.

Rubber business: The latex coagulation process in the rubber business uses it. As natural latex coagulates, it forms rubber sheets.

Leather Industry: It is used in the deliming and pickling phases of the leather production process. It aids in the removal of extraneous debris and hair from animal skins.

Pharmaceutical Industry: In several pharmaceutical production procedures, it is utilized to adjust pH. It can be used in the manufacturing of medications and other drugs.

Pulp and Paper business: It is used to bleach pulp in the pulp and paper business. It aids in the pulp's color removal, which helps produce paper goods with white or light colors.

DRIVING FACTORS

"Rising Demand in the Agricultural Practices to Nurture the Market Growth"

An essential component in the creation of fertilizers with a nitrogen basis is aqua ammonia. One such factor is the increased need for fertilizers due to increased crop yields and increased agricultural production on a worldwide scale. It is frequently utilized as a source of ammonia for fertilizers in agriculture. Agriculture-related trends like precision farming and the emphasis on increasing crop yields might affect the market for aqua ammonia.

"Rising Demand of the Product as a Natural Refrigerant to Build Up the Market Share"

The growing need for ammonia in refrigerants and fertilizers. Global population increase, rising food demands, and a decline in arable land are some of the main causes driving up the need for NH3 fertilizers, which will drive up market expansion. Large-scale refrigeration facilities frequently employ ammonia, which comes in liquid and gaseous forms. Because it is 10–20% more economical than CFC-using systems, it is strongly recommended. Furthermore, because the substance does not directly contribute to greenhouse gas emissions or ozone depletion, it is also regarded as a natural refrigerant. Furthermore, NH3 has advantageous thermodynamic characteristics that allow it to have refrigerating ability with little energy input. Throughout the projected time, these factors are anticipated to drive the expansion of the product market.

RESTRAINING FACTOR

"Toxicity and Safety Concerns to Hamstring the Market Growth"

Because it is a caustic material, exposure to elevated amounts of aqua ammonia can be hazardous. It may irritate the respiratory system, eyes, and skin. When dealing aqua ammonia, appropriate safety precautions, such as wearing personal protection equipment, should be taken. Because aqua ammonia is caustic, it must be handled and stored with extreme caution. Accidents can be avoided by maintaining proper storage conditions, which include safe containers and well-ventilated rooms. Hence, such factors are expected to hinder the aqua ammonia market growth during the forecast period.

AQUA AMMONIA MARKET REGIONAL INSIGHTS

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"Asia Pacific with Leading Number of Agrarian Countries to Dominate the Market Share"

With the largest revenue share of more than half of the worldwide output, the Asia Pacific region led the aqua ammonia market share. Asia Pacific’s Thailand, Japan, India, Indonesia, and the Philippines are among the many agricultural nations to whom this is credited. Approximately 60% of the nitrogenous fertilizers used worldwide are used in this region.

China is the world's largest producer of ammonia, contributing around 30% of the total output, according to the International Energy Agency. China consumes one-third of the world's total nitrogenous fertilizer use, making it the top consumer worldwide. India is among the top producers of ammonia worldwide, making up around 8% of total output, according to the Ammonia Energy Association. Most products made in the nation are directly transformed into urea, which is then used as fertilizer.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Important industry players have a big impact on the market and are crucial in determining customer preferences and market dynamics. These major firms provide consumers easy access to a vast array of clothing alternatives through their huge retail networks and online platforms. Product adoption has increased as a result of their strong worldwide presence and well-known brand, which has also enhanced consumer trust and loyalty. These industry titans also consistently fund R&D, bringing cutting-edge designs, materials, and clever features to aqua ammonia to meet changing customer demands and preferences. These big businesses' combined efforts have a big impact on the market's future direction and level of competition.

List of Market Players Profiled

• Kemerovo JSC Azot (Russia)
• Sinopec (China)
• CF Industries (U.S.)
• Uralchem (Moscow)
• BASF (Germany)
• PotashCorp (Canada)
• Yara (Norway)
• Agrium (Canada)
• Chemchina (China)
• QAFCO (Qatar)
• Eurochem (Switzerland)
• OCI Nitrogen (The Netherlands).

INDUSTRIAL DEVELOPMENT

• April 2023: Sinopec became the first Asian customer to take part in the eastern expansion of Qatar's North Field liquefied natural gas project after a deal was reached between Sinopec and QatarEnergy. Sinopec would own a 5% interest in an 8 million tonnes per year LNG train.

REPORT COVERAGE

The report includes a thorough SWOT analysis and offers predictions for market growth in the future. It explores a broad range of market categories and possible applications that might have an impact on the market's trajectory in the upcoming years, as well as key aspects that contribute to the market's growth. The research provides a comprehensive overview of the market's components and identifies possible growth opportunities by taking into account both historical turning points and present trends.