Australia ammonia market was estimated to be valued at US$ 934.85 Million in 2021, according to Australia Ammonia Market Report, by Product Type (Anhydrous Ammonia, Aqueous Ammonia), by End-use (Ammonium Nitrate, Nitric Acid, Ammonium Sulphate, Urea, DAP, MAP, Others), and by Application (Agrochemicals, Industrial Chemicals, Explosives, Others), published by Coherent Market Insights.
Ammonia is a naturally occurring colorless gas that has one nitrogen and hydrogen group. It is the most common nitrogenous waste especially among aquatic organisms and is also used as a key intermediate for the synthesis of the numerous pharmaceutical products. Moreover, it is used in the manufacturing of fertilizer as it is the basic building block of ammonium nitrate fertilizer, which releases nitrogen in the soil for the healthy growth of the plants in the farm and also improves soil fertility. Also, ammonia is also used as refrigerant gas and in air-conditioning equipment since it can absorb a substantial amount of heat from the surrounding.
In 2021, Australia ammonia market was valued at US$ 934.85 million, and 1,905 kilo tons in terms of volume.
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Browse 50 market data tables* and 40 figures* on "Australia Ammonia Market” - Forecast to 2030.
Key Trends and Analysis of Australia Ammonia Market:
- The growing mergers & acquisitions in the Australian market is expected to fuel the ammonia market growth over the forecast period. For instance, in August 2019, Perdaman Chemicals and Fertilisers (Perdaman), an Australian chemical and fertilizer manufacturing company signed a licensing and engineering contract for a Danish gas company, Topsoe A/S’s SynCOR Ammonia solution for US$ 2.75 billion ammonia/urea plant in Karratha, Western Australia. With this acquisition, the Perdaman plant became the world’s largest single-line ammonia plant with a planned capacity of 3,500 metric tons per day.
- Rising investment by the major manufacturer in Australia is expected to foster market growth over the forecast period. For instance, in October 2019, the Australian government will allocate US$ 1.93 million in financing for two studies seeking to explore the potential of using green hydrogen from wind and solar power electrolysis in the production of ammonia. Therefore, rising support of the Australian government in order to expand the application of ammonia is expected to fuel the market growth.
Key Takeaways of Australia Ammonia Market:
- On the basis of application, the industrial chemicals dominated Australia ammonia market in 2021, in terms of value, followed by agrochemicals and explosives.
- Robust growth of mining operations in Asia Pacific, especially in countries such as Indonesia and China, has led to significant growth in demand for ammonium nitrate-based explosives, thus stimulating demand for ammonia.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the development of new and sustainable ammonia-based products are key strategies adopted by key players in the Australia ammonia market.