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Ammonia market size is expected to gain momentum from its increasing usage in multiple processes, such as production of synthetic fibers, metallurgy, and coolant in refrigeration. The Global Ammonia industry size is projected to grow from USD 71.98 billion in 2021 to USD 110.93 billion in 2028 at a CAGR of 6.4% during the 2021-2028 period. Ammonia is a colorless gas made of nitrogen and hydrogen. It has a pungent smell. This information is given in an upcoming report by Fortune Business Insights™,
Source:
https://www.fortunebusinessins....ights.com/industry-r
Drivers and Restraints-
Rising Usage in Textile and Agriculture Industries to Boost Growth
Ammonia is experiencing high demand from the agriculture and textile end-use industries. The main reason for this is that the gas is extensively used for soil fertilizers and dyeing, respectively. It is also used for producing various chemicals, such as ammonium phosphate, ammonium sulphate, and urea. Besides, the rising population across the globe is further resulting in the high demand for crops. Hence, ammonia is