What's Driving The Ammonium Nitrate Market Size? | Top Key Players Enaex, Orica, EuroChem, CF Industries, Austin Powder Company, Yara International, Incitec Pivot Limited, Neochim PLC, OSTCHEM Holding AG, Grupo Fertiberia, Borealis, SAN Corp., ABU QIR Fer

Global ammonium nitrate market will be primarily driven by the increasing demand for fertilizers around the globe. The key factor responsible for rising fertilizer demand in agriculture sector is an excessive food demand driven by a steep rise in global population. Fertilizers enhance the crop production volume along with improving quality. Increasing usage of fertilizers in agriculture sector is also driven by the rising concerns over food safety around the world. Major usage of the product as fertilizers during the crop production is owing to its ability to slow release of nitrogen. Product demand will be driven by the shrinkage of agriculture land, increasing food consumption and rising concerns about the food safety.

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Mining & quarrying is an important end-user segment in the ammonium nitrate market, growing at a CAGR exceeding 1.7% from 2019 to 2025. China and US are the main drivers of the mining industry. China is becoming one of the largest mining countries especially for the rare-earth commodities. Whereas the US is important whenever mining is related to oil & gas extraction and mining activities support. Ammonium nitrate is employed in the manufacturing of the explosives used in the mining and quarrying activities. Increasing exploration activities in oil & gas sector & production in the U.S. post shell oil reserves discovery coupled with the matured oil & gas industry in the Middle-East and rising mining & quarrying activities in Asia Pacific region, especially in China & India will spur the demand for ammonium nitrate for explosives production in the coming years

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Yara International
2. Orica
3. Enaex
4. CF Industries
5. Incitec Pivot Limited
6. Neochim PLC
7. Austin Powder Company
8. EuroChem
9. OSTCHEM Holding AG
10. Grupo Fertiberia
11. Borealis
12. SAN Corp.
13. ABU QIR Fertilizers and Chemicals Industries Company
14. Deepak Fertilisers And Petrochemicals Corp. Ltd.
15. CSBP
16. UralChem

The ammonium nitrate market has, of late, been experiencing remarkable growth on account of the ever-growing population that has created an imbalance in the demand & supply of food across the globe. The global population is anticipated to cross 8 billion by 2030, thereby generating a massive requirement for viable sustenance, inviting a spate of disturbance in the demand-supply graph of food production and distribution. In consequence, this will result in a surge in agricultural and farming activities, escalating the usage of fertilizers, and subsequently augmenting the growth of ammonium nitrate market.

The demand for fertilizers is quite high in the APAC and Latin American countries due to the expansion of agricultural lands in these nations. Private organizations and government bodies in developing nations like Latin America, Asia-Pacific and Africa, having recognized the acute shortage of food supply, are encouraging farmers and creating awareness programs for the utilization of more fertilizers to improve the agricultural yield. The surging demand for fertilizers in this context will thus drive the growth of ammonium nitrate market in the upcoming years.

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Speaking of ammonium nitrate, it is prudent to mention that LDAN, known as low-density ammonium nitrate, is utilized as an effective, high quality and cost efficient mining explosive and blasting agent, especially in emulsion type explosives or with ANFO (Ammonium Nitrate/ Fuel Oil). Low-density ammonium nitrate is utilized as porosity control agents and anti-caking coatings. Better known for its longevity, flexibility of usage, and excellent stability, LDAN also depicts excellent sensitivity to shock waves, has free flowing properties, and is renowned for homogeneous & fast absorption of oil. Indeed, the global LDAN market is predicted to showcase a CAGR of more than 4% over 2018-2025.

The paragraphs below provide a precise gist of the application landscape of the ammonium nitrate market:

Agriculture

As per reliable reports, the agriculture industry is estimated to showcase a highly commendable growth rate across developing economies such as Latin American and Asia Pacific countries. Indeed, agricultural products, with respect to their price patterns, have depicted a major transformation in the recent years. This demand is expected to significantly grow ahead, owing to a number of key factors, a crucial one being the rising population worldwide. To address the food demands of the escalating populace, governments across the globe have been undertaking major initiatives to bolster the agriculture industry.

As the demand graph for food products remains ever-exponential, fertilizers will automatically witness a surge in requirement, which will further catapult the ammonium nitrate market share from agricultural applications over 2018-2025.
Endorsed by a broad application terrain, the ammonium nitrate industry is expected to showcase a highly profitable growth chart in the coming years. As per estimates, the valuation of ammonium nitrate market would cross a respectable US$23.2 billion by the end of 2025.

Browse key industry insights spread across 250 pages with 294 market data tables & 28 figures & charts from the report, “Ammonium Nitrate Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/ammonium-nitrate-market

Civil construction

The civil construction industry is predicted to emerge as among the most profitable application avenues for the ammonium nitrate market. Undeniably, this growth could be credited towards the rise in constructions, renovations as well as infrastructure needs around the world. A recently published report suggests that the volume of construction output would be escalating by over 80% to more than US$15 trillion globally by 2030, with three nations – India, China and the U.S. – leading the industry.

Asia Pacific is also a key ammonium nitrate market globally which will grow by a CAGR of more than 3.1% from 2019 to 2025. Growing agriculture industry owing to the development of agriculture-based countries coupled with increasing demand for mining explosives in India & China and escalating construction activities in the region will propel the market growth of ammonium nitrate in the region.

Key companies in the global ammonium nitrate market includes EuroChem, Yara International, Uralchem, Borealis, Ostchem, CF, Fertiberia and others. Backward integration is a major strategy used by the majority of the companies in the market to strengthen their positions along with increase their profit margins.

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