Global Ammonium Carbonate Market 2019-2023
About this market
Increase in R&D activities to drive market growth. The increase in investments and technological advances in the ammonia industry are expected to drive the demand for ammonium carbonate. Technological improvements such as Haber-Bosch process improvements, catalysts and absorbents selection, and new electrochemical processes are used in the production of ammonia. Such advanced technologies are expected to lower the production cost of ammonia, thereby driving the demand for ammonium carbonate. Technavio’s analysts have predicted that the ammonium carbonate market will register a CAGR of almost 6% by 2023.
Increasing demand of ammonium carbonate from developing countries
The global ammonium carbonate market is posting a high growth rate because of the increased demand from developing economies such as China, India, Brazil, Indonesia, Thailand, Egypt, and South Africa. The rising demand for readymade bakery products such as bread, pizzas, cakes, and pastries in these developing economies, wherein ammonium carbonate is majorly used as a baking ingredient (leavening agent), is a key driving factor for the growth of the market
Threat of substitutes
The use of baking powder and baking soda as a raising agent in bakery products is expected to impede the growth of the global ammonium carbonate market.
For the detailed list of factors that will drive and challenge the growth of the ammonium carbonate market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Honeywell International and Sandvik the competitive environment is quite intense. Factors such as the increasing demand of ammonium carbonate from developing countries and the increase in R&D activities, will provide considerable growth opportunities to ammonium carbonate manufactures. Avantor, BASF, Honeywell International, Sandvik, and Taixing Dongyu Chemical are some of the major companies covered in this report.
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