Global Ammonium Chloride Market 2018-2022 | High Demand for Chemical-etching Process to Promote Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 20, 2018--The global ammonium chloride market is expected to post a CAGR of over 3% during the period 2018-2022, according to the latest market research report by .
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Technavio has released a new market research report on the global ammonium chloride market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the increased demand for ammonium chloride from the fertilizer industry. Ammonium chloride is mostly used as fertilizers for crops, as well as in plants that produce fruits and vegetables, lawns, and gardens. Over the past years, the land available for cultivation has decreased tremendously owing to the growing global population and increasing construction activities. During the forecast period, this will significantly propel the growth of the global ammonium chloride market as the organic compound can increase the crop efficiency of the limited and available cultivable land.
This market research report on the global ammonium chloride market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increasing demand for ammonium chloride in the chemical-etching process as one of the key emerging trends in the global ammonium chloride market:
Global ammonium chloride market: Increasing demand for ammonium chloride in chemical-etching process
Chemical etching or chemical milling is a photolithographic process in which the undesired parts of a component are dissolved in acids, bases, or alkaline chemicals to yield the desired shape for the product. In the automotive, aerospace, electronics, and semiconductor industries that use ammonium chloride extensively, photo-chemical etching and electrochemical etching are the major chemical milling processes.
“ High demand for etching chemicals for applications in the fabrication of printed circuit boards, integrated circuits, microprocessors, semiconductors, miniature antennas, lead frames, and in optical apertures will significantly propel the growth of the global ammonium chloride market during the forecast period. The growing applications of ammonium chloride as an etching chemical and the rising demand for etchants from end-user industries such as electronics, automotive, and aerospace will significantly drive the market growth during the forecast period,” says a senior analyst at Technavio for research on specialty chemical.
Global ammonium chloride market: Segmentation analysis
This market research report segments the global ammonium chloride market by application (fertilizers and medical) and geographical regions (APAC, EMEA, and the Americas).
The fertilizers segment held the largest market share in 2017, accounting for nearly 85% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 52%. This region is expected to dominate the market through 2022.
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 LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Technavio Research
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PUB: 12/20/2018 10:02 AM/DISC: 12/20/2018 10:04 AM