South Korea Synthetic Ammonia Raw Material Market was valued at USD 1.9 Billion in 2022 and is projected to reach USD 2.7 Billion by 2030, growing at a CAGR of 4.8% from 2024 to 2030.
The Synthetic Ammonia Raw Material Market in South Korea is experiencing robust growth, driven by a strong demand from various industries, especially in the agricultural, chemical, and automotive sectors. Synthetic ammonia is a critical raw material for producing fertilizers, which are essential for enhancing crop yields. With South Korea’s agricultural focus, the demand for synthetic ammonia continues to grow, making it an integral part of the country's economy.
The primary requirement for synthetic ammonia in South Korea comes from the fertilizer industry, where it is a key component in nitrogen-based fertilizers like urea and ammonium nitrate. These fertilizers are widely used in agriculture to increase productivity. As the population continues to grow and urbanization expands, the need for higher agricultural outputs, driven by synthetic ammonia fertilizers, becomes more pronounced. Furthermore, ammonia is also used in the production of explosives, plastics, and various chemicals, making it indispensable in the chemical sector.
Additionally, the automotive industry has increased its use of synthetic ammonia, particularly in the production of catalytic converters, which help reduce harmful emissions in vehicles. South Korea’s commitment to environmental sustainability has driven demand for technologies that improve fuel efficiency and reduce pollutants. As such, the use of ammonia in automotive applications is expected to grow significantly.
The global trend towards cleaner energy and reduced environmental impact is also influencing the synthetic ammonia raw material market. With South Korea's ongoing transition towards green energy, synthetic ammonia’s role in sustainable solutions, such as ammonia-based fuel cells and storage systems, is expected to expand. This trend is further supported by government policies aimed at reducing carbon emissions, thus driving the market for synthetic ammonia and its byproducts.
In conclusion, the synthetic ammonia raw material market in South Korea is shaped by industrial demand from key sectors like agriculture, chemicals, and automotive, with an increasing focus on sustainability and environmental impact.
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Linde Group
Air Liquide
Taiyo Nippon Sanso
Air Products and Chemicals
Iwatani
Welsco
Advanced Specialty Gases
Exxon Mobil Corporation
Shell
Total
Chevron Corporation
Eni
Statoil ASA
CHINA NATIONAL COALGROUP
Yankuang Energy Group Company Limited
National Energy Investment
Zhongran Gas
China National Petroleum Corporation
Towngas China Company Limited
China Resources (Holdings) Company Limited
Shanxi Coking Coal Energy
Cangzhou Risun
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Synthetic Ammonia Raw Material Market
Anhydrous Ammonia
Aqueous Ammonia
Haber-Bosch Process
Non-Haber-Bosch Process
Agriculture
Chemicals
Pharmaceuticals
Automotive
Others
Liquid Ammonia
Gaseous Ammonia
Fertilizer Production
Industrial Chemicals
Refrigerants
Pharmaceuticals
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Synthetic Ammonia Raw Material Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Synthetic Ammonia Raw Material Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Synthetic Ammonia Raw Material Market, By Type
6. South Korea Synthetic Ammonia Raw Material Market, By Application
7. South Korea Synthetic Ammonia Raw Material Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Synthetic Ammonia Raw Material Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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