Ammonium chloride market to grow by USD 387.79 million from 2022 to 2027 | APAC to contribute 38% to the market growth - Technavio

NEW YORK, Aug. 31, 2023 /PRNewswire/ -- The ammonium chloride market size is estimated to grow at a CAGR of 4.5% between 2022 and 2027. The market size is forecast to increase by USD 387.79 million. APAC is estimated to contribute 38% to the growth of the global market during the forecast period. The growth of agriculture in the APAC region, especially in India and China, is driving demand for ammonium chloride as fertilizer. Government initiatives and raised budgets for agricultural development, such as Pradhan Mantri Krishi Sinchayee Yojana, contribute to this. The use of ammonium chloride in zinc-carbon batteries for vehicles and aviation is driving the growth of the market in the APAC region. For Comprehensive details on the market size of historic period (2017 to 2021) and forecast period (2023-2027) - View Sample report

Company Landscape

The ammonium chloride market is fragmented; the companies are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key companies, their strategies, and the latest developments. Buy Now

Ammonium Chloride Market - Market Dynamics

Major Drivers & Challenges- The market is driven by factors such as the increasing demand for ammonium chloride from APAC. In the APAC region, India is leading the region due to population growth and the diversity of industries. India's high fertilizer production and increasing use of ammonium chloride such as in batteries and steel plating are driving the market. Agricultural production and exports from Japan and China are continuing to drive demand. Furthermore, government investments and initiatives in China and India are driving the growth of the ammonium chloride market for higher crop yields. Foreign investment is driving advanced farming methods, which in turn drive demand for fertilizers, especially ammonium chloride, in the APAC region. This increase in demand will drive the growth of the ammonium chloride market during the forecast period.

Side effects of ammonium chloride affect the growth of the market. Substitutes such as potassium chloride, ammonium nitrate, and urea used as fertilizers may affect the growth of the market. Ammonium chloride contains 25% nitrogen, while ammonium nitrate contains 33-35% nitrogen and can be easily produced. Potassium chloride from brine and salt lakes provides the elements necessary for plant growth. The higher nitrogen content in urea also competes to replace it. The availability of more effective and effective substitutes may impede the growth of the ammonium chloride market during the forecast period.

Key Trends- The growing use of ammonium chloride in cough medicines and food products

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report

Company Profiles

The ammonium chloride market report includes information on the product launches, sustainability, and prospects of leading companies, including Apollo Fertilizer, Arkema Group, BASF SE, Central Glass Co. Ltd., Chemcon Speciality Chemicals Ltd., China National Chemical Engineering Co. Ltd., FUJI KASEI Co. Ltd., GFS Chemicals Inc., HELM AG, Honeywell International Inc., Jiangsu Debang Chemical Industry Group Co. Ltd, Jiangsu Huachang Chemical Co. Ltd., Merck KGaA, Nanoshel LLC, ProChem Inc., Star Grace Mining Co. Ltd., The Dallas Group of America Inc., Tinco Industries, Tuticorin Alkali Chemicals and Fertilizers Ltd., and Zaclon LLC.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

Ammonium Chloride Market - Market Segmentation

The ammonium chloride market report extensively covers market segmentation by application (fertilizers, medical, and others), type (agricultural grade, industrial grade, and food grade), and geography (APAC, North America, Europe, Middle East and Africa, and South America). 

• The market share growth by the fertilizers segment will be significant during the forecast period. Ammonium chloride is a medium-strength nitrogen fertilizer with a content of 25% nitrogen that enhances plant growth. Ammonium chloride-based nitrogen fertilizers contain essential elements, such as chlorine and nitrogen, which enrich plant growth and prevent plants from wilting and rotting. These fertilizers are used effectively in crops, lawns, and gardens. They are used a lot in rice and wheat cultivation to improve crop yields. Due to these advantages of ammonium chloride nitrogen fertilizer, the fertilizer segment will witness steady growth during the forecast period.

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Table of Contents 

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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