Ammonia Market by Application (Fertilizers, Textile, Refrigeration, Pharmaceutical, Household & Industrial Cleaning, Others), Forecast 2024-2032
The Ammonia Market size was valued at USD 67.01 USD Billion in 2023 and is projected to reach USD 94.92 USD Billion by 2032, exhibiting a CAGR of 5.1 % during the forecast period.Ammonia NH₃ is a nasty-smelling, colourless gas at room temperature and is a gas made up of a single nitrogen atom covalently bound with three hydrogen atoms (NH₃). Distinctively found in large numbers, both in industries and houses, attributing to this little wonder has become a necessity. Ammonia plays a very important role in the fertilizer industry as it is a key ingredient in fertilizer, which leads to the growth of healthy plants since it is a source of nitrogen. It also works as a refrigerant in industrial districting systems; hence, it is effective at cooling. Its high solubility in water makes this compound an effective cleaning agent, and most of all, it's easy to find a happy cleaning product in your home. Despite its odorous and potentially harmful nature, ammonia has several benefits. It is a highly available factor, and its low cost makes it persistently economical for many fields of industry.
Application:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.1% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.1% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
Primary Research
Secondary Research
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