The ‘Global Ammonium Nitrate Market Size, Report and Forecast 2024-2032’ by Expert Market Research gives an extensive outlook of the ammonium nitrate market, assessing the market on the basis of its segments like application and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Ammonium Nitrate Market Price, Size, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2032)
• Forecast CAGR (2024-2032): 3.8%
The demand for ammonium nitrate for fertiliser application is increasing as ammonium nitrate has proven highly efficient in agricultural fields and also has lower greenhouse gas emissions as compared to other fertilisers. Ammonium nitrate offers the advantage of being able to be left uncovered and top dressed on the surface of the soil without any risk of loss of nitrogen into the atmosphere which is increasing its demand from farmers and bolstering the growth of the ammonium nitrate market.
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In large-scale agricultural farming as well as in home gardens of individuals, ammonium nitrate fertilisers are being used to enhance plant growth as it provides a ready supply of nitrogen which allows the plants to draw nitrogen easily. Moreover, growing population is increasing the demand for food which in turn is increasing the demand for fertilisers.
Ammonium nitrate is also observing an increasing demand from sectors such as construction, mining, quarrying, and defence, among others, fuelling the ammonium nitrate market growth. These industries use ammonium nitrate for blasting activities as an explosive because ammonium nitrate provides a more concentrated oxygen supply than surrounding air. It is considered as a main ingredient and raw material for the production of explosives. In mining explosives, ammonium nitrate is mixed with fuels and oil to obtain better results. Prills of ammonium nitrate are covered with a waxy anti-caking material which improves handling capabilities and flowability features of the explosive.
Ammonium Nitrate Industry Definition and Major Segments
Ammonium nitrate is a white, odourless, and crystalline solid granule with the chemical formula NH₄NO₃ and is used in fertilisers, pyro techniques, insecticides, herbicides and also in the manufacture of nitrous oxide, also known as laughing gas. A salt of ammonia and nitric acid, ammonium nitrate is acidic in nature and dissolves in water after dissociating into its constituent ions.
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Based on application, the market is classified into:
• Fertilisers
• Explosives
• Others
On the basis of region, the market is categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Ammonium Nitrate Market Trends
The key trends in the ammonium nitrate market include technological advancements in ammonium nitrate products and applications and stringent regulations by various governments for their storage and transportation. Ammonium nitrate is considered to cause potential hazards upon coming into contacted with combustible materials such as wooden pallets. They are known as a strong oxidiser which means if they are contaminated with charcoal, oil, or any other organic material, they can cause unplanned destructive explosions. Development of new technologies for the production process of ammonium nitrate are expected to improve the quality of the products leading to a greater demand.
Asia Pacific accounted for a large share of the ammonium nitrate market due to both high consumption and production rate of ammonium nitrate. Presence of major manufacturers in countries like China, South Korea, Japan, and India is helping the market for ammonium nitrate grow further in the region. The consumption rate is increasing owing to the growing population and rising food safety concerns due to which governments, farmers, and organisations in the region are promoting the use of ammonium nitrate fertilisers. The rising focus on increasing the yield per unit of cultivated land is expected to further increase the demand for ammonium nitrate fertilisers, contributing to the growth of the market.
Key Market Players
The major players in the global ammonium nitrate market report are CF Fertilisers UK, Croda International Plc, Yara International ASA, Orica Limited, Maxamcorp Holding, S.L., and Sasol Limited, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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