Aqua Ammonia Market By Grade (Industrial Grade, Electronic Grade, Pharma Grade, Others), By End-Use Industry (Agriculture, Pharmaceutical, Leather, Pulp and Paper, Rubber, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Aqua Ammonia Market
The aqua ammonia market was valued at $422.9 million in 2023 and is projected to reach $511.6 million by 2033, growing at a CAGR of 2% from 2024 to 2033.
Aqua ammonia, known by the chemical name “ammonium hydroxide,” is an alkaline solution of ammonia gas and water. This solution is a colorless liquid with a pungent odor and is typically utilized in various industrial and household applications. Due to its high pH, aqua ammonia is highly corrosive and causes harm if inhaled or comes in contact with the skin. One of the pivotal properties of aqua ammonia is that it is a weak base and upon reaction with acids, it forms ammonium salts. When dissolved in water, a slightly exothermic reaction takes place. Aqua ammonia serves as fertilizer, cleaning agent, and refrigerant for industrial purposes. It is a common ingredient in household cleaning products due to its high cleaning efficacy which arises from its ability to emulsify fats and oils.
Rise of the water treatment industry is a pivotal driver of the aqua ammonia market. Increase in demand for clean and safe water globally has boosted the requirement of aqua ammonia in treatment plants due to its efficient pH adjustment disinfectant properties. In addition, the implementation of stringent government regulations to regulate the discharge of poisonous wastewater from industries is upsurging the demand for aqua ammonia. Currently, the exploration of “green ammonia” is trending in the market. Research is being conducted to test aqua ammonia as the major fuel alternative in energy storage systems. This green ammonia is expected to make a substantial contribution in decarbonization by catering to approximately 60% of the fuel demands.
However, the growth of the aqua ammonia market is restrained by certain factors. The volatility in the prices of raw materials required in the manufacturing process brings instability to the market. Furthermore, the handling and usage of the solution are subject to various stringent regulations, hence preventing its widespread adoption. The Occupational Safety and Health Administration has fixed the exposure limit for ammonia at 50 parts per million for the workers, over an eight-hour workday.
Segment ReviewThe aqua ammonia market is segmented into grade, end-use industry, and region. On the basis of grade, the market is divided into industrial grade, electronic grade, pharma grade, and others. By end-use industry, it is classified into agriculture, pharmaceutical, leather, pulp & paper, rubber, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of grade, the industrial grade segment held the highest market share in 2023.
By end-use industry, the agriculture segment was the highest shareholder in 2023.
Region wise, Asia-Pacific was the largest revenue generator in 2023.
Competition AnalysisThe major players operating in the global aqua ammonia market are Yara, CF Industries, Uralchem, PotashCorp, EuroChem Group, Shandong Everlast AC Chemical Co.,Ltd, Malanadu Ammonia Pvt. Ltd., KMG Chemicals, Inc., First Chemical Industries., and Thatcher Company. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.
Key Market SegmentsBy GradeIndustrial Grade
Electronic Grade
Pharma Grade
Others
By End-Use IndustryAgriculture
Pharmaceutical
Leather
Pulp and Paper
Rubber
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market Players
CF Industries
Uralchem
PotashCorp
EuroChem Group
Shandong Everlast AC Chemical Co.,Ltd
Malanadu Ammonia Pvt. Ltd.
KMG Chemicals, Inc.
First Chemical Industries.
Thatcher Company
Yara International ASA