Press release
Australia Ammonia Market Expected to Increase at a CAGR 6.3% by 2024
Persistence Market Research delivers key insights on the Australia ammonia market in its latest report titled, “Australia Market Study on Ammonia: Increasing Consumption in Nitric Acid Production to Drive Growth by 2024”. The ammonia market in Australia is estimated to register 5.8% Y-o-Y growth in 2016 over 2015 and is expected to expand at a CAGR of 6.3% over the forecast period (2016-2024).
By product type, anhydrous ammonia segment is expected to continue to dominate the market in terms of value and volume share throughout the forecast period (2016–2024). Production of ammonium nitrate by explosives manufacturers to cater to demand for industrial explosives from the mining sector is anticipated to drive growth of the Australia ammonia market over the forecast period. Also, increasing demand for nitrogen-rich fertilizers such as DAP and MAP is expected to drive volume sales of ammonia during the forecast period. However, volatility in natural gas prices and increasing dependency on fertilizer imports are factors expected to restraint growth of the ammonia market in Australia.
On the basis of end use, nitric acid segment is expected to exhibit relatively strong projections by 2024 end, owing to pivotal use of nitric acid both directly and as precursor to other downstream products. The segment is expected to continue to account for major value and volume shares in the Australia ammonia market throughout the forecast period, to account for 46.2% by 2024 in terms of value and expand at a CAGR of 7.9% in terms of volume during the forecast period. Ammonium nitrate segment in the Australia ammonia market is expected to be valued at US$ 172.0 Mn by 2016 end, registering 7.3% Y-o-Y growth over 2015.
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On the basis of application, industrial chemicals segment is expected to maintain its dominance throughout the forecast period. Explosives segment is expected to register the second-highest CAGR of 7.5% over the forecast period, to reach value of US$ 298.2 Mn by 2024 end.
Western Australia is the largest market for ammonia. The market in the region is estimated to be valued at US$ 230.7 Bn by 2016 end. The ammonia market in New South Wales is anticipated to expand at a significant CAGR of 7.2% in terms of value over the forecast period.
Download and View Report TOC, Figures and Tables @ https://www.persistencemarketresearch.com/methodology/18724
Key players in the Australia ammonia market include Yara International ASA, Orica Limited, Incitec Pivot Limited, and CSBP Limited (Wesfarmers Limited). The Australia ammonia market is highly consolidated, with limited number of ammonia manufacturers and suppliers. However, major players in the market are focusing on expanding their production of ammonium nitrate to cater to demand for industrial explosives from the mining industry. Increase in ammonium nitrate production is anticipated to significantly increase demand for ammonia and nitric acid.
About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Contact Us
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com
By product type, anhydrous ammonia segment is expected to continue to dominate the market in terms of value and volume share throughout the forecast period (2016–2024). Production of ammonium nitrate by explosives manufacturers to cater to demand for industrial explosives from the mining sector is anticipated to drive growth of the Australia ammonia market over the forecast period. Also, increasing demand for nitrogen-rich fertilizers such as DAP and MAP is expected to drive volume sales of ammonia during the forecast period. However, volatility in natural gas prices and increasing dependency on fertilizer imports are factors expected to restraint growth of the ammonia market in Australia.
On the basis of end use, nitric acid segment is expected to exhibit relatively strong projections by 2024 end, owing to pivotal use of nitric acid both directly and as precursor to other downstream products. The segment is expected to continue to account for major value and volume shares in the Australia ammonia market throughout the forecast period, to account for 46.2% by 2024 in terms of value and expand at a CAGR of 7.9% in terms of volume during the forecast period. Ammonium nitrate segment in the Australia ammonia market is expected to be valued at US$ 172.0 Mn by 2016 end, registering 7.3% Y-o-Y growth over 2015.
Request Sample Report@ https://www.persistencemarketresearch.com/samples/11527
On the basis of application, industrial chemicals segment is expected to maintain its dominance throughout the forecast period. Explosives segment is expected to register the second-highest CAGR of 7.5% over the forecast period, to reach value of US$ 298.2 Mn by 2024 end.
Western Australia is the largest market for ammonia. The market in the region is estimated to be valued at US$ 230.7 Bn by 2016 end. The ammonia market in New South Wales is anticipated to expand at a significant CAGR of 7.2% in terms of value over the forecast period.
Download and View Report TOC, Figures and Tables @ https://www.persistencemarketresearch.com/methodology/18724
Key players in the Australia ammonia market include Yara International ASA, Orica Limited, Incitec Pivot Limited, and CSBP Limited (Wesfarmers Limited). The Australia ammonia market is highly consolidated, with limited number of ammonia manufacturers and suppliers. However, major players in the market are focusing on expanding their production of ammonium nitrate to cater to demand for industrial explosives from the mining industry. Increase in ammonium nitrate production is anticipated to significantly increase demand for ammonia and nitric acid.
About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Contact Us
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com
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