Ammonium Nitrate Market

Ammonium Nitrate Market is valued at USD 15.29 Billion in 2021 and expected to reach USD 19.33 Billion by 2028 with the CAGR of 3.4% over the forecast period. 

Global Ammonium Nitrate Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing demand in agriculture industry and rising usage across various end use industries are some of the major factors driving the growth of the Global Ammonium Nitrate Market. 

Scope of Global Ammonium Nitrate Market Report- 

Ammonium nitrate is the chemical compound with the chemical formula NH4NO3. It is a white crystalline salt containing ammonium and nitrate ions. It is highly soluble in water & hygroscopic as a solid, although it does not form hydrates. Its other significant use is as a component of explosive mixtures used in mining, quarrying, and civil construction. It is also used as an antibiotic and nutrient for yeast production. Ammonium nitrate is produced by a synthetic process and is usually stored in air conditioner warehouses. It is available in the market in granular and powder forms. Granular ammonium nitrate also works as an explosive because it has excellent absorption properties. It is an explosive agent and is in great demand. 

The Covid-19 pandemic has negatively impacted the growth of the global ammonium nitrate market. Social distancing rules had a negative impact on the mining sector as the number of farm laborers was limited. Further decline in production of agrochemicals due to extended lockdown and suspension of transport activities dampened market growth. In addition, raw material shortages and supply chain disruptions have also affected the production rates. However, in the near future, the market will be expected to grow positively. 

The global ammonium nitrate market is segmented on the product, application, end-user, region & country level. Based on the product, the global ammonium nitrate market is segmented into powder and granular forms. By application, the global ammonium nitrate market is segmented into explosives, fertilizers, and others. By end-user, the global ammonium nitrate market is segmented into pharmaceutical, agriculture, defense, mining, and others. 

The regions covered in the global ammonium nitrate market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global ammonium nitrate is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc. 

Key Players of Global Ammonium Nitrate Market Report- 

Some major key players for the global ammonium nitrate market report cover prominent players like Incitec Pivot Limited, URALCHEM Holding P.L.C., San Corporation, CF Industries Holdings, Inc., EuroChem Group AG, Austin Powder Company, Vijay Gas Industry P Ltd, OSTCHEM Holding, Orica, Neochim PLC, and others.  

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 15.29 Billion
Base year considered	2021
Forecast Period CAGR %:	3.4%
Market Size Expected in 2028:	USD 19.33 Billion
Tables, Charts & Figures:	175
Pages	200
Ammonium Nitrate Comapnies	Incitec Pivot Limited, URALCHEM Holding P.L.C., San Corporation, CF Industries Holdings, Inc., EuroChem Group AG, Austin Powder Company, Vijay Gas Industry P Ltd, OSTCHEM Holding, Orica, Neochim PLC, and others.
Segments Covered	By Product, By Application, by End-User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

News- 

PDIL Installed a New Ammonium Nitrate Plant in RCF Trombay 

On September 22nd, 2022; NOIDA: Projects and Development India Limited (PDIL) Mini Ratna, Category-I, Ministry of Chemicals and Fertilizers, Department of Fertilizers, Government of India has awarded the task of preparing to set up a new Ammonium Nitrate Plant at RCF Trombay (DFR). 

 

 

PJSC KuibyshevAzot Launched Large-scale Modernisation of Ammonium Nitrate Plant 

On January 25th, 2019; PJSC KuibyshevAzot plans to commission a new granular ammonium nitrate plant before the end of 2020. This revitalization strategy includes replacing vintage equipment that has been in operation since 1965 and reducing energy consumption and air emissions from the ammonium nitrate plant.  

Increasing Demand in Agriculture Industry and Rising Usage Across Various End Use Industries are Some of the Major Factors Driving the Market Growth  

One of the major factors driving the growth of the ammonium nitrate market is the increasing demand in the agriculture industry. Ammonium nitrate is a popular preparation for mixing with soil and, therefore, is used as a suitable crop fertilizer in the agricultural sector. Ammonium nitrate is also used for hay and pasture because it is less susceptible to volatile loss than urea-based fertilizers. Ammonium nitrate is ideally mixed with many other fertilizers for use in the agricultural industry, as the mixture has a tendency to absorb moisture if stored for long periods of time. For instance; as per the news published, in 2020, the production of ammonium nitrate for Canada was 654,000 tonnes. Therefore, its increasing demand in the agriculture industry is one of the major factors fostering the market growth. 

In addition, its rising usage across various end-use industries is also boosting the growth of the ammonium nitrate market. It is primarily used in fertilizers as a source of nitrogen and is the main component of most non-military industrial explosives and blasting agents. Fertilizer-grade ammonium nitrate has  significantly higher density than explosive-grade AN. The main form produced is solid ammonium nitrate (prills or granules), but liquid ammonium nitrate has gained popularity, particularly in developed economies, primarily as an ingredient in urea ammonium nitrate. A low-density form of prilled ammonium nitrate is commonly used as an explosive in the mining industry and on building sites. For faster absorption of fuel oil, manufacturers deliberately make it porous. 

However, the fluctuating raw material prices may hinder the growth of the global ammonium nitrate market. Despite that, the rising demand for ammonium nitrate-based fertilizer from agriculture may create more opportunities in the global ammonium nitrate market. 

Asia Pacific is Expected to Show a Significant Growth in the Global Ammonium Nitrate Market 

Geographically, Asia Pacific is expected to show a significant growth in the global ammonium nitrate market within the forecast period due to the increasing demand in the agriculture industry, rising population, and growing construction activities in this region. For example; according to The Food and Agriculture Organization (FAO); Agriculture, with its allied sectors, is the largest source of livelihoods in India. 70 percent of its rural households still depend primarily on agriculture for their livelihood, with 82 percent of farmers being small and marginal. In 2017-18, total food grain production was estimated at 275 million tonnes (MT).  India is the largest producer (25% of global production), consumer (27% of world consumption) and importer (14%) of pulses in the world. 

Europe is the fastest-growing region in the global ammonium nitrate market due to the increasing investments to revitalize the construction sector, rising demand from mining, and growing population these factors boost the market. For instance; according to The International Union for Conservation of Nature Red List, in 2022; With a population of around 740 million, Europe is home to around 10% of the world's total population.  

Global Ammonium Nitrate Market Segmentation: 

By Product

• Powder Form 
• Granular Form 

By Application

• Explosive 
• Fertilizers  
• Others 

By End-Use

• Pharmaceutical 
• Agriculture  
• Defense 
• Mining  
• Others 

Ammonium Nitrate Market Key Players:

• Incitec Pivot Limited
• URALCHEM Holding P.L.C.
• San Corporation
• CF Industries Holdings, Inc.
• EuroChem Group AG
• Austin Powder Company
• Vijay Gas Industry P Ltd
• OSTCHEM Holding
• Orica
• Neochim PLC

Key Benefits of Global Ammonium Nitrate Market Report– 

• Global Ammonium Nitrate Market report covers in-depth historical and forecast analysis 
• Global Ammonium Nitrate Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level. 
• Global Ammonium Nitrate Market report helps to identify opportunities in marketplace.
• Global Ammonium Nitrate Market report covers extensive analysis of emerging trends and competitive landscape.