Refrigerant Grade Anhydrous Ammonia Trends and Forecast
The future of the global refrigerant grade anhydrous ammonia market looks promising with opportunities in the industrial equipment refrigeration, household equipment refrigeration, and commercial equipment refrigeration markets. The global refrigerant grade anhydrous ammonia market is expected to grow with a CAGR of 4.6% from 2024 to 2030. The major drivers for this market are increasing ammonia-based fertilizers production, shift towards eco-friendly refrigerants, and expansion in food processing & cold storage sectors.
• Lucintel forecasts that purity 99.95% is expected to witness the higher growth over the forecast period.
• Within this market, industrial equipment refrigeration is expected to witness the highest growth.
• North America is expected to witness highest growth over the forecast period.
United States: Yara North America announced initiatives to expand its anhydrous ammonia production capacity, targeting a 20% increase by 2023 to meet growing demand from the refrigeration and HVAC sectors.
India: Rashtriya Chemicals & Fertilizers Limited (RCF) introduced plans to optimize its ammonia production facilities for refrigerant-grade quality, targeting a 30% increase in supply to meet the demand from the cold storage and food processing industries.
China: Sinopec Corporation invested in advanced ammonia production technologies to enhance the quality of refrigerant-grade anhydrous ammonia, aiming to capture a larger share of the domestic market and reduce reliance on imports.
Europe: Linde plc and Air Liquide S.A. collaborated on initiatives to develop sustainable practices for anhydrous ammonia production, focusing on carbon capture and utilization technologies, with targets aligned with EUÄX%$%Xs climate goals.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Refrigerant Grade Anhydrous Ammonia by Segment
The study includes a forecast for the global refrigerant grade anhydrous ammonia by type, application, and region.
Refrigerant Grade Anhydrous Ammonia Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Purity 99.95%
• Purity 99.98%
Refrigerant Grade Anhydrous Ammonia Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Industrial Equipment Refrigeration
• Household Equipment Refrigeration
• Commercial Equipment Refrigeration
Refrigerant Grade Anhydrous Ammonia Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Refrigerant Grade Anhydrous Ammonia Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies refrigerant grade anhydrous ammonia companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the refrigerant grade anhydrous ammonia companies profiled in this report include-
• A-Gas
• Air Liquide
• Airgas
• Danfoss Group
• Hydrite Chemical
• Jaysons Chemical Industries
• Mysore Ammonia
Recent Development in the Refrigerant Grade Anhydrous Ammonia Market
Yara North America: Expanded production capacity for refrigerant-grade anhydrous ammonia to meet increasing demand from HVAC and refrigeration industries, focusing on high-purity formulations.
Sinopec Corporation: Invested in advanced production technologies to enhance the quality and purity of refrigerant-grade anhydrous ammonia, targeting improved performance in refrigeration systems.
Rashtriya Chemicals & Fertilizers Limited (RCF): Optimized ammonia production facilities for refrigerant-grade quality, aligning with growing demand from cold storage and food processing sectors, emphasizing purity and reliability.
Linde plc and Air Liquide S.A.: Collaborated on sustainable practices for anhydrous ammonia production, including carbon capture and utilization technologies, to meet regulatory requirements and support climate goals.
Features of the Global Refrigerant Grade Anhydrous Ammonia Market
Market Size Estimates: Refrigerant grade anhydrous ammonia market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Refrigerant grade anhydrous ammonia market size by type, application, and region in terms of value ($B).
Regional Analysis: Refrigerant grade anhydrous ammonia market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the refrigerant grade anhydrous ammonia market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the refrigerant grade anhydrous ammonia market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for refrigerant grade anhydrous ammonia market?
Answer: The global refrigerant grade anhydrous ammonia market is expected to grow with a CAGR of 4.6% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the refrigerant grade anhydrous ammonia market?
Answer: The major drivers for this market are increasing ammonia-based fertilizers production, shift towards eco-friendly refrigerants, and expansion in food processing & cold storage sectors.
Q3. What are the major segments for refrigerant grade anhydrous ammonia market?
Answer: The future of the refrigerant grade anhydrous ammonia market looks promising with opportunities in the industrial equipment refrigeration, household equipment refrigeration, and commercial equipment refrigeration markets.
Q4. Who are the key refrigerant grade anhydrous ammonia market companies?
Answer: Some of the key refrigerant grade anhydrous ammonia companies are as follows:
• A-Gas
• Air Liquide
• Airgas
• Danfoss Group
• Hydrite Chemical
• Jaysons Chemical Industries
• Mysore Ammonia
Q5. Which refrigerant grade anhydrous ammonia market segment will be the largest in future?
Answer: Lucintel forecasts that purity 99.95% is expected to witness the higher growth over the forecast period.
Q6. In refrigerant grade anhydrous ammonia market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the refrigerant grade anhydrous ammonia market by type (purity 99.95% and purity 99.98%), application (industrial equipment refrigeration, household equipment refrigeration, and commercial equipment refrigeration), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Refrigerant Grade Anhydrous Ammonia Market, Refrigerant Grade Anhydrous Ammonia Market Size, Refrigerant Grade Anhydrous Ammonia Market Growth, Refrigerant Grade Anhydrous Ammonia Market Analysis, Refrigerant Grade Anhydrous Ammonia Market Report, Refrigerant Grade Anhydrous Ammonia Market Share, Refrigerant Grade Anhydrous Ammonia Market Trends, Refrigerant Grade Anhydrous Ammonia Market Forecast, Refrigerant Grade Anhydrous Ammonia Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.