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 a...