Argentina Ammonia Market

Synopsis
The above chart is Argentina Ammonia Market Outlook (2018 to 2032)

Market Dynamics

argentina’s ammonia market has seen a steady growth in demand in recent years, even in the face of economic instability. the country is one of the world’s leading exporters of ammonia, and its domestic demand for the ammonia market is large and growing. according to the energy information administration (eia) of the united states, argentina’s 2011 ammonia production was estimated at slightly over two million metric tons. with the increasing demand for ammonia in response to a greater need for nitrogen fertilizer applications, growth for the ammonia market in argentina is projected to continue through 2032. the government trade agency, proexport, notes that the country is expected to maintain a strong growth rate in ammonia consumption, due to the increasing demand for fertilizers, fertilizers products, and other related supplies. the primary producers of ammonia in the country are petrobras, ypf, chávez, and yaco. the global players, such as yara and cf industries, also have direct activities in argentina. the growing demand from the agricultural, energetic, and petrochemical activities plays an important role in the future development of the ammonia market. the consumption of ammonia in argentina is expected to increase, reaching almost 70 million tons of nh3 till 2032. the intermediate and long-term growth in demand is foreseeable, since the main producers are expected to invest more in the industrial use of ammonia. precisely, the increased use of ammonia in agricultural fertilizers is a major driving force behind the market. according to the international fertilizer development centre, ammonia is an essential component in fertilizer production, and its use is increasing significantly in the country due to growing production of local crops in the region. in conclusion, forecasts for the future of argentina’s ammonia market are positive. with an expected increase in fertilizer use, the demand for ammonia should grow in line with the country’s intensifying agricultural production. furthermore, other industrial uses of ammonia look to bolster demand in the future. moving forward, it is expected that the ammonia market in the country will remain strong for the foreseeable future.