Press release
Ammonium Nitrate Market Size Worth USD 21.74 Billion in 2032 | Key Companies - CF Industries Holdings, Inc., Enaex, EuroChem Group, MAXAM
Ammonium Nitrate Market
Market Drivers
The rising demand for minerals, driven by the need for clean energy solutions, is bolstering the mining industry, thereby fueling the demand for ammonium nitrate. Mining companies worldwide are investing in projects valued at USD 318 billion, contributing significantly to market growth. Additionally, the expansion of small-scale mining in developing countries further boosts the procurement of ammonium nitrate for material extraction.
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Market Developments
Technological advancements in mining, such as the adoption of autonomous mining systems, are enhancing operational efficiency and contributing to market expansion. These systems, equipped with remote-controlled tools and cameras, enable supervisors to oversee operations remotely, minimizing human intervention.
Market Restraints
Despite its widespread use, government regulations on ammonium nitrate pose challenges to market growth. Stringent regulations are imposed globally due to safety concerns, as ammonium nitrate can form explosive compounds when combined with certain substances. New rules mandating the safe handling and storage of ammonium nitrate at ports are further impacting market dynamics.
Market Segment Insights
The global ammonium nitrate market is segmented based on application and end-use:
Application Insights:
• Fertilizers: The largest revenue share in 2022 was attributed to the fertilizers segment. Ammonium nitrate serves as a key raw material in fertilizer manufacturing, with its demand driven by the agricultural sector's need to enhance crop productivity.
• Explosives: The segment accounted for a significant share in 2022, driven by the use of ammonium nitrate fuel oil in blasting activities for mining, quarrying, and civil construction.
End-Use Insights:
• Agriculture: The agriculture segment dominated the market in 2022, fueled by increasing agricultural production and the rising demand for fertilizers. Government initiatives aimed at supporting the agricultural sector further contribute to segment growth.
• Mining: Expected to witness the fastest revenue growth rate, the mining segment relies heavily on ammonium nitrate for explosive manufacturing. The extraction of minerals for various industries drives the demand for explosives, supporting market expansion.
Browse the complete Global Ammonium Nitrate Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2032 @ https://www.emergenresearch.com/industry-report/ammonium-nitrate-market
Ammonium Nitrate Top Companies and Competitive Landscape
The global ammonium nitrate market is fragmented, with several key players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new products and solutions.
Some major players included in the global ammonium nitrate market report are:
• CF Industries Holdings, Inc.
• Enaex
• EuroChem Group
• MAXAM
• Orica Limited
• Sasol
• San Corporation
• URALCHEM JSC
• Vijay Gas Industry Pvt. Ltd
• Austin Powder
Ammonium Nitrate Latest Industry News
• On 4 May 2023, Austin Powder developed a lead-free primary explosive detonator for its clients that, it says, comes ahead of regulators mandating the use of such an alternative. Austin Powder started looking for a lead-free alternative to lead azide back in 2007 at its detonator facility, Austin Star Detonator. The initial work was started by Morris Bannerman and Göran Jidestig.
• On 8 Feb 2023, Explosives and blasting services provider Enaex SA selected the K-GreeN technology offered by ammonia process licensor KBR Inc. for deployment as part of the HyEx green ammonia project in Chile. Ammonia is the main raw material for Enaex, which uses it to produce the ammonium nitrate needed for its blasting services and exports. However, ammonia imports currently account for about 90% of the company's total carbon footprint in the production process, it estimates.
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Ammonium Nitrate Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global ammonium nitrate market on the basis of application, end-use, and region:
• Application Outlook (Revenue, Volume, USD Billion, Kilotonnes; 2019-2032)
o Fertilizers
o Explosives
o Others
• End-Use Outlook (Revenue, Volume, USD Billion, Kilotonnes; 2019-2032)
o Agriculture
o Mining
o Defense
o Construction
o Quarry
• Regional Outlook (Revenue, Volume, USD Billion, Kilotonnes; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
o Rest of APAC
1. Latin America
2. Brazil
3. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA
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Outlook
With the continued growth of the mining and agriculture sectors, the global ammonium nitrate market is poised for steady expansion. However, adherence to regulatory standards and safety protocols will remain crucial for sustained market growth.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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