LONDON–(Business Wire)–SpendEdge has been monitoring the global ammonia market and the market is poised to experience spend growth of over USD 11 billion between 2018-2023 at a CAGR of more than 4% during the forecast period. Request Free Sample Pages.
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Read the 131-page research report with TOC and LOE on “The Global Ammonia Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top suppliers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”
Non-GHG-based refrigerators are emerging as one of the rapidly adopted household electric appliances in which ammonia is extensively used owing to its low cost and favorable heat transfer properties. This is one of the key spend growth drivers in the global ammonia market. The emergence of solar ammonia plants is driving demand in the ammonia market to a significant extent.
The discovery of large shale gas reserves in the US is reducing the prices of natural gas, which is the primary feedstock for ammonia. This is serving as a motivation for suppliers to augment their domestic production of ammonia. This will limit the volume of ammonia imports done by the US while boosting the spend growth in the ammonia market in the region.
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Insights into the supply market
- A majority of ammonia suppliers are adopting advanced process control mechanisms and new catalysts to improve the efficiency of their ammonia manufacturing plants. They are also investing in building solar-powered plants to decrease the carbon footprints of their operations.
- According to the forecasts, ammonia suppliers are staring a reduced profit margin owing to fluctuations in the prices of raw materials such as pit coal, lignite, peat, and non-volatile hydrocarbon residues.
Insights into category management strategies that will help buyers to achieve a beneficial partnership with suppliers
Use LCCS
The global prices of ammonia differ across regions and countries due to variations in the prices of raw materials such as natural gas and coal. It is prudent of buyers to calculate the total cost of procurement, including the cost of transportation and export-import duties, to analyze the ideal locations for sourcing ammonia.
Assess supplier’s EHS management program
The procurement of products from multiple regions by buyers is termed as global sourcing. It involves the cross-border movement of goods. The sourcing destination is not limited to one region but is spread across the globe to leverage low-cost country sourcing. Buyers should engage with suppliers through a global sourcing model as the prices of ammonia vary worldwide during different seasons, and buyers can procure it at the lowest prevailing prices by sourcing the product from multiple regions.
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Some of the key topics covered in this report are:
- Ammonia market spend segmentation by region
- Total cost of ownership analysis in the ammonia market
- Regional spend opportunity for ammonia suppliers
- Ammonia suppliers cost structure
- Ammonia pricing models analysis
- Ammonia procurement best practices
- Category management objectives
- Cost saving opportunities in the ammonia market
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SpendEdge
Anirban Choudhury
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