AMMONIUM CARBONATE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Ammonium Carbonate Market Size and Trends

The ammonium carbonate market is estimated to be valued at USD 650.6 Mn in 2024 and is expected to reach USD 927.8 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.

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The market is expected to witness positive growth over the forecast period. Ammonium carbonate is used in various industries such as pharmaceuticals, leather tanning, and water purification. It is used as a neutralizing agent and cleaning agent in personal care products which is further expected to boost the market growth. The strengthening personal care industry especially in emerging economies of Asia Pacific and Latin America is likely to provide numerous opportunities for ammonium carbonate manufacturers over the coming years.

Use in Baking Powder Production

Ammonium carbonate plays a crucial role in the production of baking powder. It is a key ingredient used extensively in formulations of double-acting baking powders. When baking powder is mixed with other wet ingredients during baking, the ammonium carbonate present in it reacts with the acid components and releases carbon dioxide gas. This allows baked goods like cakes and cookies to rise and attain their light and fluffy texture.  The demand for baking powder has been growing steadily over the years, in line with increasing consumption of packaged bakery products worldwide. People are becoming more health-conscious and opting for baked goods instead of fried alternatives. The fast-paced lifestyle has also fueled the demand for convenience foods where baking powder plays a vital role. The expansion of retail chains and improving cold chain logistics in developing nations has further boosted the availability of packaged bakery items.

Ammonium carbonate manufacturers have calibrated their production capacities to match the requirements of leading baking powder formulators. Strict quality protocols are followed to ensure the consistency in chemical composition and reactivity. Many players have targeted the developing Asian markets by setting up local production bases or through tie-ups with domestic partners. This helps them gain an edge over other imports by offering shorter lead times and competitive landed costs. Overall, the extensive reliance of the baking powder industry on ammonium carbonate is expected to drive steady demand for this chemical in the coming years.

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Requirement in Refrigerant Industry

Another major end-use driver for the ammonium carbonate market is its application as a feedstock in the production of synthetic refrigerants. One such refrigerant is R-764, which is manufactured through a reaction between ammonium carbonate and hydrogen fluoride. R-764, also known as tetrafluoromethane, serves as an efficient and ozone-friendly alternative to chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs) which are being phased out globally. With rising awareness about environmental protection, there is a massive shift occurring from old-generation refrigerants to more sustainable newer alternatives like R-764 across various industries that employ refrigeration systems extensively. Applications include commercial and automotive air-conditioning, industrial process cooling, food cold chain, and others.