Global Ammonium Carbonate Market Size, Share, Report, Key Players, Growth, Trends, Forecast 2023-2028
The new report by Expert Market Research titled, ‘Global Ammonium Carbonate Market Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global ammonium carbonate market, assessing the market based on its segments like types, applications, industry verticals, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 2%
The rising application of ammonium carbonate in baked products including biscuits, cookies, lebkuchen, and others is driving the market growth. In addition to this, the rising demand for food additives due to the increasing population and rising disposable income is anticipated to augment the market growth in the forecast period.
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Moreover, the increasing demand for the product in various end use industries including automotive, healthcare, and oil and gas, among others is anticipated to provide impetus to the market in the forecast period. In terms of region, the Asia Pacific accounts for a significant share in the market owing to the expansion of the pharmaceutical and food and beverage industries due to the presence of large population base, healthy economic growth of developing countries, and rapid urbanisation.
Industry Definition and Major Segments
Ammonium carbonate is defined as a mixture of ammonium bicarbonate and ammonium carbamate which has a boiling point of 58 degree Celsius and molecular weight of 96.09 g/mol. In appearance, ammonium carbonate can be either white or colorless powder, or hard crystalline masses. The chief applications of the product include manufacturing of smelling salts and baking powder.
By type, the market can be bifurcated into:
- Pharmaceutical Grade
- Chemical Grade
Based on application, the market is segmented into:
- Pharmaceuticals
- Food and Beverage
- Foaming Agents
- Others
The significant industry verticals considered in the market include:
- Oil and Gas
- Chemicals and Petrochemicals
- Automotive
- Healthcare
- Others
The regional markets for ammonium carbonate include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Trends
The technological advancements and growing R&D activities in major end use industries of ammonium carbonate are likely to be the major trends in the market. Additionally, the rapid growth of the pharmaceutical industry is expected to enhance the applications of the pharmaceutical grade ammonium carbonate. The emerging e-commerce industry, especially in developing nations, is anticipated to increase the sales of bakery, confectionery, medicine, and food products, which is expected to favour the market growth in the forecast period.
Key Market Players
The major players in the market are Avantor (VWR International, LLC.), BASF SE, Taixing Dongyu Chemical Co., Ltd., Honeywell International Inc., and Merck KGaA, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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