The new report by Expert Market Research titled, ‘Global, Report and Forecast 2023-2028’, gives an in-depth analysis of the global ammonium bicarbonate market, assessing the market based on its segments like grades, end uses, 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 analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): 198 Million Metric Tons (Global Ammonia Market)
- Forecast CAGR (2023-2028): 4%
Ammonium bicarbonate is abundantly used in the food industry for the manufacture of baked goods. The rising population and urban development are increasing food demand, which is expected to fuel the demand for ammonium bicarbonate in the coming years. Ammonium bicarbonate, being a very active baking agent, does not leave any flavour-affecting deposits. It always meets the highest expectations of quality. Such a trend is also expected to provide a good foundation for strong growth in the upcoming year for the global demand for ammonium bicarbonate. Ammonium bicarbonate is used, among other things, in the manufacture of pharmaceuticals, pigments, dyes, and ceramics. It is popularly used in the manufacture of chrome leather tanning, catalyst synthesis, and ceramics in the rubber and leather industries. During the forecast period, sustained growth in all such industries is expected to fuel the demand for ammonium bicarbonate across the globe.
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Industry Definition and Major Segments
Ammonium bicarbonate is an inorganic chemical compound with the formula HCO3. The colourless crystalline bicarbonate salt of the ammonium ion is ammonium bicarbonate. In the presence of water, ammonia, and carbon dioxide, ammonium bicarbonate degrades readily. It is used in certain low-humidity baked goods as a source of carbon dioxide. By adding ammonia and carbon dioxide, ammonium bicarbonate is synthesised.
By grade, the industry is segmented into:
- Food Grade
- Technical Grade
- Agriculture Grade
Ammonium bicarbonate finds end-uses in the following sectors:
- Food and Beverage
- Rubber and Leather
Based on regional markets, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The global food industry is primarily being driven by a rising appetite for healthy food. The demand for packaged and ready-to-eat food items in both developed and developing regions also plays a crucial role in the growth of the worldwide food industry. Growth in urbanisation is also one of the food industry’s leading driving forces. Thus, the growth of the food industry is expected to positively impact the ammonium bicarbonate market.
From a regional perspective, ammonium bicarbonate is estimated to account for a large share in the Asia Pacific region, and the regional market is projected to show substantial growth during the forecast period. One of the major driving factors for the ammonium bicarbonate market in the Asia Pacific region in the coming years is the rising food demand, coupled with a growing population.
Key Market Players
The major players in the market are BASF SE, Sumitomo Chemical Co., Ltd., Nissan Chemical Corporation, and Mangalore Chemicals & Fertilizers Limited, 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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