The ammonium carbonate market has a wide range of applications including food additives, fire extinguishers, textile, and pharmaceuticals. Ammonium carbonate is an inorganic compound used as a leavening agent, food additive, fire extinguisher, fertilizer and chemical reagent. It decomposes endothermically when heated to produce ammonia gas and carbon dioxide gas.
The global ammonium carbonate market is estimated to be valued at US$ 927.8 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the ammonium carbonate market include Bayer CropScience, Shanghai Mingdou Agrochemical Co. Ltd, Taixing Dongyu Chemical, Oasis Fine Them, Taixing Experimental Chemical, Akash Purochem Private Limited, Shanghai Tenglong Agrochemical Co. Ltd., Monsanto, BASF SE, Yixing Waxing Chemical, P J Chemicals, Syngenta AG, SinoHarvest Corporation, Vinipul Inorganics India Pvt. Ltd., Nike Chemical, Foxkem Industries, Mubychem Group, Dhanlaxmi Pigments Pvt. Ltd, CDH Fine Chemical, and Haihang Industry. The rising demand for ammonium carbonate from industries such as food and beverages, pharmaceuticals, agriculture is expected to drive the market growth over the forecast period. Furthermore, the key manufacturers are focusing on global expansion strategies through partnerships and collaborations to tap growth opportunities in emerging economies.
Market key trends
One of the key trends witnessed in the Ammonium Carbonate Market Demand is the increasing use of ammonium carbonate as a fertilizer. It acts as a nitrogen-based fertilizer when dissolved in water and applied to crops. This helps improve fertility and yield of the soil. With the growing population and rising demand for food, the consumption of ammonium carbonate as fertilizer is expected to rise significantly over the next few years. This will propel the growth of the global ammonium carbonate market during the forecast period.
Porter’s Analysis
Threat of new entrants: Low, as manufacturing ammonium carbonate needs sufficient capital and established distribution channels.
Bargaining power of buyers: Moderate to high as ammonium carbonate has many uses and buyers can switch between suppliers.
Bargaining power of suppliers: Moderate as raw materials required for manufacturing are commodity chemicals available from multiple sources.
Threat of new substitutes: Moderate as ammonium carbonate has unique properties but alternative sources of nitrogen and carbon also exist.
Competitive rivalry: High as the market has many regional and global players competing on pricing and quality.
Geographical regions with major market share in terms of value are North America and Europe. North America accounts for over 30% market share currently led by United States. Europe has around 25-30% share with Germany and United Kingdom being the major countries. China and India also have significant domestic demand for ammonium carbonate and account for 15-20% share each in the global market.
The fastest growing region for ammonium carbonate market is Asia Pacific excluding China and India. Countries like Indonesia, Thailand, Vietnam, Philippines and Malaysia are expected to witness strong growth between 8 to 12% during the forecast period. This is owing to increasing use of ammonium carbonate as fertilizer in agriculture and as feedstock in various industrial processes in these developing economies.
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.