Skip to main content

GlobalData: Global ammonia industry shows signs of resilience despite COVID-19 impact

Published by
World Fertilizer,


The global demand growth of ammonia is expected to remain sluggish between 2020 and 2030 due to a COVID-19 led reduction in economic activities in addition to flattening population growth, says GlobalData, a leading data and analytics company.

GlobalData: Global ammonia industry shows signs of resilience despite COVID-19 impact

Despite the severity of the impact of the pandemic, the top ammonia producers are likely to march ahead with their upcoming ammonia projects. The top ten countries are expected to contribute a total of 46.5 million tpy of which the top four account for more than two thirds of the capacity or 33.2 million tpy. India and Iran lead with 9.2 million tpy and 8.7 million tpy, respectively.

Global ammonia projects currently under the initial stages of development could face start-up delays due to increased certainty regarding phasing and completion timelines, but it depends largely on the duration and severity of the COVID-19 outbreak.

Dayanand Kharade, Oil and Gas Analyst at GlobalData, comments: “The pandemic has seen mixed reactions from major ammonia producers, with only a few companies announcing Capex cuts for the current year, as an immediate and proactive measure. Companies aim to dynamically optimise production and plan their investments in order to maintain long term competitiveness and growth. Yara International remains committed to investments, however, the company has stated that optimisation due to COVID-19 may postpone some spending. Producers continue to evaluate their capital structure to identify further cost-effective investment opportunities.

“Most of the global economies had to follow lockdown measures undertaken by the government, leading to a slump in demand in 2020, with disruptions in food chain affecting the fertilizer industry.”

Read the article online at: https://www.worldfertilizer.com/special-reports/16072020/globaldata-global-ammonia-industry-shows-signs-of-resilience-despite-covid-19-impact/

You might also like

 Stamicarbon

[WEBINAR] Stami Digital: Optimising the future of plant operations with digital insights

Stamicarbon, the innovation and licensing company of Maire Tecnimont Group, is committed to a sustainable fertilizer industry, by investing amongst others in innovative digital solutions that turn real-time plant data into meaningful information by using Stamicarbon’s know-how to enhance insights and control and drive continuous optimisation. This webinar will cover the Stami-Digital Operator Training Simulator, the Stami-Digital Process Monitor and the Stami-Digital Optimizer.

Register for your free space today »

 

Yara Asia wins sustainability award

Yara Asia has been awarded the ‘Sustainability Award 2020’ in the sustainable food and nutrition category by EuroCham, the European Chamber of Commerce in Singapore.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Ammonia news