Global Ammonium Chloride Market Expands at a CAGR of 4.0% Through Forecast Period
Ammonium chloride is an inorganic compound that finds usage in a wide variety of applications, owing to its physical properties. Ammonium chloride is predominantly used as a flux in the soldering, galvanizing and coating processes of metals, and is also used for maintenance of pH value. Furthermore, ammonium chloride finds significant applications in the production of OTC cold and cough medicines, as an expectorant. Backed by these factors, the global ammonium market is anticipated to expand at a steady CAGR of 4.0% over the forecast period of 2019 to 2029. Moreover, usage of ammonium chloride in niche industrial applications, such as leather tanning, textile printing, metal flux, cosmetics & personal care, will continue to drive the market on a positive growth trajectory in the years to come.
Surging Adoption in Pharmaceuticals and Food Production Shapes Growth Trajectory
Pharma grade ammonium chloride has been witnessing a significant demand, on the back of increasing adoption in the manufacturing of OTC cold & cough medicines. Moreover, ammonium chloride is utilized in the production of animal medications, owing to the compound's ability to prevent the formation of stones in the kidney and bladder of grazing animals. The increasing adoption in pharmaceuticals is anticipated to act as a major growth driver to the global ammonium market. Furthermore, food-grade ammonium chloride is gradually gaining traction in food production applications as a food additive and is expected to metamorphose into a prominent end-use sector.
Ammonium Chloride Market- Scope of the Report
The recent study by XploreMR on ammonium chloride market offers a 10-year forecast between 2019 and 2029. The study analyzes crucial trends that are currently determining the growth of ammonium chloride market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of ammonium chloride. The study also provides dynamics that are responsible for influencing the future status of the ammonium chloride market over the forecast period.
A detailed assessment of ammonium chloride value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the ammonium chloride market along with their production capacity analysis enhances the reliability of this comprehensive research study.
Ammonium Chloride Market: Report Summary
Ammonium Chloride Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029Buy Now
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