Ammonia Prices and Forecasts | Provided by Procurement Resource

Ammonia, a colorless, alkaline gas with a distinct and pungent odor, is a vital chemical compound with wide-ranging applications in the commercial and industrial sectors. From its crucial role in agriculture as a fertilizer to its use in various industrial processes, ammonia’s importance cannot be understated. This article provides an in-depth look at ammonia prices, including key trends and factors influencing its pricing throughout the first quarter of 2024.

Understanding Ammonia

Ammonia, chemically represented as NH3, is rich in nitrogen and is an essential precursor for the production of amino acids and nucleotides, which are fundamental for various biological processes. It is predominantly produced by soil bacteria, which utilize animal and plant waste, organic matter, and plant materials as their primary sources.

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Top Ammonia Producers

The top three ammonia-producing countries globally are China, India, and Russia. These nations play a significant role in ammonia production and trade, influencing global price trends.

Key Details About Ammonia Price Trends

Procurement Resource conducts thorough analyses of ammonia price trends, offering monthly, quarterly, half-yearly, and yearly insights into ammonia price trend through its pricing dashboard. This detailed assessment explores various aspects, including product details, price fluctuations over different timeframes, key players in the market, industrial applications, and the driving forces shaping market dynamics and price trends.

Industrial Uses Impacting Ammonia Prices

Ammonia boasts a vast array of industrial uses, contributing to its market value of approximately USD 60 billion annually. While it is primarily recognized as a fertilizer, it is also utilized in the manufacturing of leather, rubber, paper, and wood products. Moreover, it finds application in cold storage for refrigeration systems, printing inks, water waste treatment, stabilization, explosives, and as a nitrogen source in various processes.

Key Market Players

Several key players dominate the ammonia industry, including Yara International, Qatar Fertiliser Company, Nutrien Ltd., Jordan Phosphate Mines Company Limited, Eurochem Group AG, Yidu Xingfa Chemical Co. Ltd., Yunnan Yuntianhua International Chemical Co. Ltd, Chemische Fabrik Budenheim KG, Innophos, Inc., and Maaden-Saudi Arabian Mining Company.

News and Events

Keeping up with the latest developments in the ammonia industry is essential for industry professionals. Recent events, such as the licensing agreement between KBR and McDermott International to offer integrated solutions for ammonia technologies and SABIC’s recognition for blue hydrogen and ammonia production, showcase the industry’s dynamism and innovation.

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