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Global Ammonium Bicarbonate Market to Witness a Healthy Growth During 2021-2026, Driven by the Rising Demand in Various End-Use Industries

According to a new report by EMR titled, 'Global Ammonium Bicarbonate Market Report and Forecast 2021-2026', the global market for ammonium bicarbonate to be driven by the ammonia industry, which reached a volume of 198 MMT in 2020. The global ammonia market is expected to grow at a CAGR of 4% between 2021 and 2026.

The market for ammonium bicarbonate is driven by the rising penetration of ammonium bicarbonate across various end-use industries. The product is used while manufacturing pigments, ceramics, dyes, and pharmaceuticals, among others. It finds extensive application in the rubber and leather industry to produce chrome leather tanning, manufacture ceramics, and synthesise catalysts. Thus, the sustainable growth in these industries is expected to boost the demand for ammonium bicarbonate across the world over the forecast period.

The market is aided by the growing competition among the key industry players like BASF SE (ETR: BAS) and Sumitomo Chemical Co., Ltd. BASF SE (OTCMKTS: BASFY) offers ammonium bicarbonate food grade, which is essentially used while baking cookies and biscuits. The rising demand for these bakery products is accelerating due to increasing per capita income, rapid urbanisation, and changing eating habits. People in the developing economies are receptive to western sweets and dishes, such as cookies, cakes, and biscuits. These factors are expected to fuel the market growth of ammonium bicarbonate in the forecast period.

Market Analysis by Grade, End Use, and Region:

  • The ammonium bicarbonate industry, on the basis of grade, is divided into food grade, technical grade, and agriculture grade.
  • On the basis of end use, the market is segmented into agricultural, ceramic, food and beverage, pharmaceutical, rubber and leather, and textile, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market for ammonium bicarbonate is driven by the rising demand from the food industry, where it is used as an active baking agent to bake biscuits, cookies, and more. 
  • In addition, the market is positively influenced by the growing population and rapid urbanisation, which has boosted the sales from the food industry in the recent years and is expected to continue its growth in the forecast period as well. 
  • The market is further aided by the constant enhancing quality of the product through research and innovation.
  • The rising demand from the end-use industries, like the rubber and leather industry, is expected to invigorate the market growth over the forecast period. 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for ammonium bicarbonate for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the grades, applications, and regional markets of ammonium bicarbonate. 
  • It gives an in-depth look at the regional price trends in the global market for ammonium bicarbonate.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

BASF SE, Sumitomo Chemical Co., Ltd., Nissan Chemical Corporation, and Mangalore Chemicals & Fertilizers Limited, among others, are the key players in the global ammonium bicarbonate market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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