As per Fact.MR estimates, the price of ammonium chloride is expected to have minimal fluctuation over the forecast period.
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Ammonium chloride is known as an inorganic chemical compound, which is chiefly used as a fertilizer. Apart from this, there are bundled applications of ammonium chloride associated to pharmaceuticals, textiles, food and other metal industries, which have procured prominent advancements in the past decades. According to a recent research report published by Fact.MR, the global ammonium chloride market is poised to replicate moderate growth under 5% for the above mentioned sectors. In order to achieve deeper insights surrounding the global ammonium chloride market, readers can access this comprehensive study titled “Ammonium Chloride Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2019 to 2029”.
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Based on research findings, the agrochemicals sector would exhibit its status of being the dominant application of ammonium chloride during the forecast period. In the recent past, the concerned market has witnessed a revival of fertilizer grade ammonium chloride whose market is estimated to surpass US$ 2 Bn in 2029, as per Fact.MR study. This particular assessment presents an unbiased analysis of the global ammonium chloride market, thereby, highlighting historical demand data (2014-2018) and forecast figures for the period of 2019-2029. Readers get to access critical insights related to the ammonium chloride market based on grade (pharma, fertilizer, food and battery/ industrial) and application (food additives, medical /pharmaceuticals, agrochemicals, leather & textiles, metal works, batteries and others) covering six major regions. In line with all the researched factors, the global ammonium chloride market is projected to witness a reasonable growth of 4.0% CAGR over the forecast period until 2029.
Cost-effective Manufacturing in China Giving Significant Thrust to Ammonium Chloride Market
China has been proving its potential of being a lucrative market for ammonium chloride and is likely to sustain its dominance during the forecast period. Interestingly, the nation’s ammonium chloride production capacity is projected to be around 17,000 KT, thereby, accounting almost 90% of global ammonium chloride capacity.
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Ammonium chloride is chiefly manufactured using the Hou’s process in China and other Asian countries. It is noted that, manufacturers of ammonium chloride using Hou’s process have extended a competitive lead over other players using the traditional Solvay process. In addition, China has also witnessed a number of capacity expansions associated to domestic manufacturers who are aiming to enter the market.
Pharma Sector Inclined To Showcase Higher Revenue Share
Looking at the overall scenario active in the global ammonium chloride market, demand for pharma grade ammonium chloride is likely to augment in jibe with the demand for OTC cold & cough medicines. Moreover, ammonium chloride is also preferred as an essential compound in animal medication with a purpose to prevent the formation of stones in bladder and kidney of grazing animals.
As the report concludes, it has been highlighted that prominent players with recognized market presence in global ammonium chloride market are likely to heighten growth in the coming years. Some of the leading players as mentioned in the report are Haohua Junhua Group Co Ltd, LTD., Dahua Group Dalian Chemical Co., Ltd., Hangzhou Jingang Chemical CO., Tuticorin Alkali Chemicals & Fertilisers Ltd., Zaclon LLC., and BASF SE.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.
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Source: MarketersMedia
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