26-September-2018: According to a report by Grand View Research, Inc., the worldwide ammonia market is likely to attain USD 76.64 billion by 2025. Ammonia is a compound composed of nitrogen and hydrogen. Its products can be available in the form of liquid, solid, and powder. It can be used in fertilizers, textiles, pharmaceuticals, refrigerants, and others.
In December 2017, Orica Limited. Australia declared the news about its launch of new fertilizer business as well as manufacturing plant for urea ammonium nitrate (UAN) in NSW. The company also planning to supply anhydrous ammonia to farmers from east coast in April 2018. Construction of plant is likely to get completed in 2018, but farmers will get the transported UNN immediately.
On February 7, 2018, CF Industries Holdings, Inc. publicized that its solely maintained subsidiary Terra Nitrogen GP Inc. (TNGP) will purchase all the publicly operated units of Terra Nitrogen Company, L.P. (TNCLP). The deal is expected to be finalized on 2nd April 2018, in harmony with the terms of TNCLP’s partnership agreement.
In January 2018, Japanese manufacturer Mayekawa introduced an ammonia/CO2 compact Cooling system called the Sierra-A at the AHR Expo in Chicago. The system can be utilized for dock cooling at industrial plants, HVAC, process cooling, and data centers. The system consists of 7.8 lbs of ammonia for supporting a capacity of 8.2 TR at 20°F and the CO2 supply temperature range is 5°F to 41°F.
Increasing usage of the product for manufacturing fertilizers as well as household and industrial cleaning application can drive ammonia market during the forecast period (2014 to 2025). In addition, utilization of the product in food and beverage processing, water and wastewater treatment, metallurgical processes, rubber, leather, and pulp and paper can boost market growth.
In 2016, Asia Pacific reported as the largest producer and consumer. China is chief manufacturer in the region followed by India and Indonesia.
Some of the top companies operating in the market include CF Industries Holdings, Inc.; BASF SE; Huaqiang Chem Group; Rashtriya Chemicals & Fertilizers Ltd.; and China National Petroleum Corporation.
In-Depth Research Report On Ammonia Market:
https://www.grandviewresearch.com/industry-analysis/ammonia-market
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