LONDON--(BUSINESS WIRE)--The global ammonium carbonate market size is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growth of the pharmaceutical industry is one of the major reasons for the ammonium carbonate market growth. A key factor behind this growth is rise in medical spending and the increasing awareness of healthcare insurance. The global pharmaceutical drugs sales are likely to exceed 1 trillion by 2022. Moreover, rising R&D activities, particularly in countries such as the US, Germany, France, Canada, and the UK will fuel the growth of the pharmaceutical industry further. Ammonium carbonate is used to formulate expectorants and other pharmaceutical products.
To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR30641
As per Technavio, the growing demand for ammonium carbonate in paint stripper applications will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Ammonium Carbonate Market: Growing Demand for Ammonium Carbonate in Paint Stripper Applications
The increase in the remodeling and restructuring of residential and non-residential buildings is driving the demand for ammonium carbonate. Ammonium carbonate with anionic exchange resins is used to remove sulfur from calcareous stone surfaces in residential and non-residential buildings. The addition of ammonium carbonate to alkaline paint strippers enables the easy release of paints. Thus, the growth in the paints and coatings market and increasing demand for ammonium carbonate in paint stripper applications will drive the growth of the ammonium carbonate market during the forecast period.
“Other factors such as the increase in R&D activities and backward integration of ammonium carbonate vendors will have a significant impact on the growth of the ammonium carbonate market value during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Ammonium Carbonate Market: Segmentation Analysis
This market research report segments the global ammonium carbonate market by Application (Pharmaceutical and chemical, Food and beverages, Foaming agent, and Others) and Geography (The Americas, APAC, and EMEA).
The EMEA region held the largest share of the market in 2019, followed by the Americas, and APAC respectively. The growth of the ammonium carbonate market share in EMEA can be attributed to several factors such as the use of ammonium carbonate as a leavening agent in food and beverages, and its application in the remodeling and restructuring of residential buildings.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.