According to the latest report by IMARC Group, titled “Indian Ammonia Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the Indian ammonia market reached a consumption volume of nearly 15 Million Tons in 2019. Ammonia, with the formula NH3, is a colorless pungent gas made of nitrogen and hydrogen. It is a critical chemical component that finds applications across various industries in India, including waste and wastewater treatment, pulp and paper, rubber, and food and beverage, and as a neutralizer, stabilizer and the chief source of nitrogen.
Some of the key player being Chambal Fertilizers and Chemicals Ltd. NSE: (CHAMBLFERT), GNFC (Gujarat Narmada Valley Fertilisers and Chemicals), IFFCO (Indian Farmers Fertiliser Cooperative Limited), KRIBHCO (Krishak Bharati Cooperative Limited), NFCL (Nagarjuna Fertilizers and Chemicals Limited), RCFL (Rashtriya Chemicals and Fertilizers Ltd) and Southern Petrochemicals Industries Limited (SPIC).
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With the rising environmental concerns in India, the demand for ammonia has increased in refrigeration systems as it is environmentally more benignas compared to halocarbon refrigerants. Furthermore, ammonia finds extensive applications in the agriculture and allied sector as a fertilizer. The government of the country is undertaking several favorable initiatives and engaging into collaborations with private players to improve crop yield, along with attaining self-sufficiency in fertilizer production. For instance, Adani Group, an integrated multinational business conglomerate headquartered in Ahmedabad, signed a Memorandum of Understanding (MoU) with the government of the Chhattisgarh state, to develop a coal to poly-generation (CTP) plant that includes ammonia/urea and substitutes natural gas (SNG) complex. Such initiatives, coupled with the increasing research and development (R&D) investments by the government, are expected to create a positive outlook for the market in the coming years.
Market Breakup by End Use:
- Ammonia Phosphate Fertilizers
Market Breakup by Physical Form:
- Anhydrous Ammonia
- Aqueous Ammonia
Market Breakup by States:
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