Australia Ammonia Market Growth Accelerated by Demand from Agricultural Sector

Australia ammonia has various industrial applications including the production of nitrogen fertilizers for agricultural purposes. Ammonia is used as nitrogen fertilizer for growing crops as it helps in improving soil quality and increasing crop yield. Australia has a well-established agricultural industry with crops such as wheat, barley, sugar, and fruits being major agricultural products. The growing agricultural production in the country to meet the rising global food demand is driving the adoption of ammonia-based fertilizers. The global Australia ammonia market is estimated to be valued at US$ 934.85 million in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The demand from the agricultural sector is one of the major trends driving the growth of the Australia ammonia market. Agriculture is a significant part of Australia's economy, and the country is among the top agricultural exporters globally. Ammonia fertilizers help to increase crop production substantially and support Australia's growing agricultural industry. According to government estimates, the total value of Australia's crop production was approximately US$43 billion in 2020. This increasing agricultural production is expected to propel the demand for nitrogen-based fertilizers such as ammonia over the forecast period. The widespread application of ammonia in producing fertilizers for boosting agricultural yield will continue to offer opportunities for market growth in the coming years.

Segment Analysis

The Australia ammonia market is dominated by the fertilizer sub-segment. Ammonia is mainly used as a raw material for the production of fertilizers in Australia. Ammonia has wide applications in the production of nitrogenous fertilizers such as urea, ammonium nitrate, and ammonium phosphate. These fertilizers find extensive usage in agriculture which is one of the major industries in Australia. Agriculture contributed 2.4% to the country's GDP in 2021. Thus, strong demand for fertilizers from the agriculture sector is a major factor driving the fertilizer sub-segment in the Australia ammonia market.

Key Takeaways

The global Australia ammonia market is expected to witness high growth over the forecast period. Rising demand for ammonia from the agricultural and industrial sectors is anticipated to propel the market.

Regional analysis - The Australia region currently holds the major share in the ammonia market owing to strong demand from agriculture as well as industrial sectors in the country. An expanding agricultural industry along with growing meat and dairy production is expected to bolster regional ammonia consumption over the coming years.

Key players - Key players operating in the Australia ammonia market are Incitec Pivot Limited, Yara International ASA, Orica Limited, and Wesfarmers Chemicals, Energy & Fertilisers. Incitec Pivot Limited is a leading producer and distributor of fertilizers and industrial explosives in Australia. Yara International ASA is one of the largest global fertilizer companies and has strong presence across major markets including Australia.

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