Global Ammonium Carbonate Market 2019-2023 | 6% CAGR Projection Over the Next Five Years | Technavio
The global ammonium carbonate market size is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global ammonium carbonate market 2019-2023. (Graphic: Business Wire)
The growth of the pharmaceutical industry is one of the major reasons for the ammonium carbonate market growth. A key factor behind this growth is rise in medical spending and the increasing awareness of healthcare insurance. The global pharmaceutical drugs sales are likely to exceed 1 trillion by 2022. Moreover, rising R&D activities, particularly in countries such as the US, Germany, France, Canada, and the UK will fuel the growth of the pharmaceutical industry further. Ammonium carbonate is used to formulate expectorants and other pharmaceutical products.
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As per Technavio, the growing demand for ammonium carbonate in paint stripper applications will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Ammonium Carbonate Market: Growing Demand for Ammonium Carbonate in Paint Stripper Applications
The increase in the remodeling and restructuring of residential and non-residential buildings is driving the demand for ammonium carbonate. Ammonium carbonate with anionic exchange resins is used to remove sulfur from calcareous stone surfaces in residential and non-residential buildings. The addition of ammonium carbonate to alkaline paint strippers enables the easy release of paints. Thus, the growth in the paints and coatings market and increasing demand for ammonium carbonate in paint stripper applications will drive the growth of the ammonium carbonate market during the forecast period.
“Other factors such as the increase in R&D activities and backward integration of ammonium carbonate vendors will have a significant impact on the growth of the ammonium carbonate market value during the forecast period,” says a senior analyst at Technavio.
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Ammonium Carbonate Market: Segmentation Analysis
This market research report segments the global ammonium carbonate market by Application (Pharmaceutical and chemical, Food and beverages, Foaming agent, and Others) and Geography (The Americas, APAC, and EMEA).
The EMEA region held the largest share of the market in 2019, followed by the Americas, and APAC respectively. The growth of the ammonium carbonate market share in EMEA can be attributed to several factors such as the use of ammonium carbonate as a leavening agent in food and beverages, and its application in the remodeling and restructuring of residential buildings.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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