Ammonia Water Market Future Profits to Reach New Heights with Market Size Growth

The agricultural industry segment is expected to maintain its lead position during the forecast period, with a projected CAGR of 4.0%.

WILMINGTON, DELAWARE, UNITED STATES, February 22, 2024 /EINPresswire.com/ — Allied Market Research has recently published a report on the global ammonia water market, titled “Ammonia Water Market By End-use Industry (Agriculture, Rubber, Leather, Pulp and Paper, and Others) and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2023-2032.”

The report outlines the current status and future projections of the ammonia water market. In 2022, the market was valued at $28.2 billion, and it is expected to reach $40.5 billion by 2032, with a compound annual growth rate (CAGR) of 3.8% from 2023 to 2032.

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Ammonia water, also known as ammonia solution or aqueous ammonia, is a solution of ammonium nitrate dissolved in water. It is widely used in various industries and applications, such as:

Cleaning Products: Ammonia water is commonly found in household cleaning products like glass cleaners, floor cleaners, and multipurpose cleaners due to its ability to dissolve dirt, grease, and grime.

Agriculture: It serves as a source of nitrogen for plants and is added to soil or applied as a foliar spray to promote plant growth.

Refrigeration: Ammonia water is used as a refrigerant in industrial and commercial refrigeration systems due to its good heat transfer properties and environmental friendliness compared to other refrigerants.

The report identifies key drivers and restraints for market growth. While the lucrative use of ammonia water in various industries and the rise in fertilizer usage are driving market growth, environmental concerns pose a restraint. However, the increasing awareness of water treatment presents lucrative opportunities for market growth.

The agricultural industry segment is expected to maintain its lead position during the forecast period, with a projected CAGR of 4.0%. This is because ammonia water is a crucial component in the production of ammonium-based fertilizers, providing essential nutrients to plants.

Regionally, Asia-Pacific is forecasted to maintain its dominance, with a projected CAGR of 4.0%. This is attributed to the region’s strong horticulture and floriculture industries, which often require specialized fertilization techniques where ammonia water can be a valuable component.

The report also profiles key players in the global ammonia water market, including Evoqua Water Technologies LLC, Veolia, TORAY INDUSTRIES, INC., General Electric, Koch Separation Solutions, Aquatech International LLC, KUBOTA Corporation, Asahi Kasei Corporation, WEHRLE-WERK AG, and Mitsubishi Chemical Corporation. These companies have adopted various strategies such as new product launches, collaborations, and expansions to increase market share and maintain dominance.

To access the statistical data, graphs, and key players’ strategies, you can purchase the complete report @ https://www.alliedmarketresearch.com/ammonia-water-market/purchase-options

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