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atulpmrApril 23, 2021
Persistence Market Research delivers key insights on the Australia ammonia market in its latest report titled, “
Australia Market Study on Ammonia: Increasing Consumption in Nitric Acid Production to Drive Growth by 2024”. The ammonia market in Australia is estimated to register 5.8% Y-o-Y growth in 2016 over 2015 and is expected to expand at a CAGR of 6.3% over the forecast period (2016-2024).
By product type, anhydrous ammonia segment is expected to continue to dominate the market in terms of value and volume share throughout the forecast period (2016–2024). Production of ammonium nitrate by explosives manufacturers to cater to demand for industrial explosives from the mining sector is anticipated to drive growth of the Australia ammonia market over the forecast period. Also, increasing demand for nitrogen-rich fertilizers such as DAP and MAP is expected to drive volume sales of ammonia during the forecast period. However, volatility in natural gas