Some of the key players operating in the Middle East ammonia industry include Yara International ASA, SABIC, Ma’aden, Qatar Fertiliser Company, Hemmat Petrochemical Company, Gulf Petrochemical Industries Company, Pardis Petrochemical Company, OCI N.V., Istanbul Fertilizer Industry Inc. Co. (IGSAS), and Petrochemical Industries Company.
Selbyville, Delaware , May 02, 2022 (GLOBE NEWSWIRE) --
Middle East Ammonia market value is projected to reach USD 8.5 billion by 2028, according to a new research report by Global Market Insights Inc. Increasing the utilization of fertilizers as nutritional additives in agriculture will accelerate the industry trends.
The utilization of ammonia in several industries such as agriculture, pharmaceutical, textiles, refrigeration, and mining are anticipating the business expansion. Key properties of ammonia like rich source of nitrogen, abrasion resistance, and heat transfer property thus it enhances the demand for variety of the applications. Rising population and urbanization demand for excessive agriculture production is expected to fuel the market landscape.
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Anhydrous Ammonia segment is predicted to witness CAGR of 3.8% through 2028. The increasing demand for anhydrous ammonia owing to its environmental-friendly properties from various end-use industries including medical and chemical will propel the market statistics. Rising inclination towards cleaning and sanitation due to increased well-being and health awareness, amidst pandemic has boosted the demand for household & industrial cleaners.
Some major findings of the Middle East Ammonia market report include:
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Increasing popularity of commercial agriculture in the region is likely to direct the adoption of nitrogenous fertilizers, thereby escalate the industry share.
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Rising demand for ammonia refrigerant owing to its benefits such as ecofriendly nature, low electricity consumption, and reduced operating cost will drive the market forecasts.
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Saudi Arabia market is expected to surpass USD 3.5 billion by 2028 due to rising demand for ammonia refrigerants.
Browse key industry insights spread across 114 pages with 46 market data tables & 31 figures & charts from the report, “Middle East Ammonia Market Analysis by Type (Anhydrous Ammonia, Aqueous Ammonia), By Application (Fertilizers, Refrigeration, Pharmaceuticals, Water Purification Chemicals), Industry Analysis Report, Country Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2022 – 2028’’ in detail along with the table of contents: