LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Ammonia Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the chemicals industry. This report breaks down the data and analysis behind the procurement of ammonia and acts as an all-inclusive guide for making smart purchasing decisions.
“The growing demand for ammonia can be attributed to the rise in the use of ammonia by the fertilizer segment which utilizes ammonia-based fertilizers for supplying essential nutrients to crops and for achieving high yields of crops such as maize, wheat, and fruits,” says SpendEdge procurement analyst A Kowshik. “Also, the growing demand for food due to the growth in global populations and limited availability of arable land are fueling the growth of the ammonia market,” added Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Ammonia Market:
- The increasing emphasis on fertilizer optimization.
- The rise in a supply-demand imbalance of ammonia-based fertilizers.
- The emergence of solar ammonia plants.
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The increasing emphasis on fertilizer optimization:
The rise in government regulations and the growing demand for high-quality toxic-free food products by the consumers have resulted in increased emphasis on fertilizer optimization across geographies. It is increasingly being adopted by many large-scale agro-based firms as it helps in optimizing their yield without damaging the crops. Moreover, fertilizer optimization offers the benefits of reduced soil erosion and also ensures optimization of yield for buyers with lower consumption of fertilizers.
The rise in a supply-demand imbalance of ammonia-based fertilizers:
With the growing demand for ammonia-based fertilizers from the agro sectors worldwide, the supply of ammonia has increased tremendously over the past five years. However since the need for ammonia-based fertilizers has grown at a much lower rate over the forecast period, there is an oversupply of ammonia. This has resulted in a supply-demand imbalance of such fertilizers, leading to a reduction in prices.
The emergence of solar ammonia plants:
The manufacturers of ammonia are focusing on alternative and renewable energy sources such as solar energy to power their production plants. This shift of focus is mainly due to factors like the volatility of natural gas prices and the increasing pressure to shift to renewable energy sources. This helps the buyers to reduce reliance on natural gas while achieving their sustainability goals.
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