by Ammonium carbonate is an inorganic salt compound widely used in fire extinguishers, fertilizers, effervescent tablets, leavening agents and thermally-activated blowing agents for polymers and plastics. It readily decomposes under heat to form ammonia and carbon dioxide gases. The compound finds application as a neutralizing agent during acid-base neutralization reactions in pharmaceutical and chemical industries. It also acts as a dough conditioner and acidity regulator in bakery products.
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 of 2024 to 2031.
Key Takeaways
Key players operating in the ammonium carbonate market are 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 key opportunities in the market include increasing application across various end-use industries such as pharmaceuticals, food additive, personal care products, and plastics & polymers. The growing demand for eco-friendly fire extinguishing agents is also estimated to drive the ammonium carbonate market.
Technological advancements such as development of sustainable production processes and innovative nano-enabled formulations are estimated to augment the growth of the ammonium carbonate market over the forecast period.
Market Drivers
The major market driver is the rising application of Ammonium Carbonate Market Demand in fire extinguishers as a flame retardant. Its decompositional release of ammonia, carbon dioxide and water effectively suppresses combustion. Increasing demand from agriculture sector as fertilizer and food additive industry as neutralizing agent and dough conditioner is also propelling the market growth. Large scale production of plastics and polymers requiring ammonium carbonate as a blowing agent is another key factor expected to drive the ammonium carbonate market during the forecast period.
Challenges in the Ammonium Carbonate Market
The ammonium carbonate market is facing various challenges that are restricting its growth prospects. Stringent environmental regulations regarding the production and use of ammonium carbonate is a major challenge. Since ammonium carbonate manufacturing involves hazardous chemicals, it is strictly regulated. Supply chain disruptions caused due to the ongoing COVID-19 pandemic have also negatively impacted the market. High prices of raw materials used for manufacturing ammonium carbonate is another challenge. Rising inflation and fluctuating costs of key feedstocks make it difficult for manufacturers to maintain stable prices. Issues regarding storage and transportation of ammonium carbonate also pose operational challenges. Due to its unstable and hazardous nature, special safety precautions are required during storage and transportation which increases expenses. Substitutes like ammonium bicarbonate and ammonium carbamate further intensify the competitive pressure in the market.
SWOT Analysis
Strength: Wide range of applications in various end use industries like agriculture, food processing, textiles etc. provides a strong customer base. Technical expertise and production capabilities of leading manufacturers make ammonium carbonate easily available.
Weakness: Presence of better substitute products poses intense competitive threat. Stringent norms regarding production and handling increases compliance costs.
Opportunity: Growing demand for nitrogen containing fertilizers from rising global food production provides growth opportunities. Development of innovative uses in new application areas can expand the market scope.
Threats: Vulnerability to changes in raw material prices due to supply chain disruptions. Regulations on use and emissions can become more stringent over time posing restrictio
Geographical Regions
The Asia Pacific region currently holds the major share in the global ammonium carbonate market in terms of value. This is mainly attributed to factors like large scale grain and cash crop cultivation necessitating high fertilizer use. China, India and South-East Asian countries dominate the market in the region. North America and Europe are other key regions driven by extensive agricultural practices and industrial demand.
The market in Latin America is growing at a significant rate led by countries like Brazil, Argentina and Colombia. Rising population and rapid urbanization in developing countries have boosted food production and industrial activities which favor market expansion.
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.
