What's Driving The Ammonium Nitrate Market Growth? | 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 F

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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Driven by rising product application in various end-user industries like agriculture, construction and mining & quarrying, ammonium nitrate market has registered substantial growth in recent years. A chemical component that is widely used for producing high-efficiency, nitrogen fertilizer for top-dressing winter crops and for sugar cane cultivation, ammonium nitrate indirectly helps enhance the growth, quality & safety of crops and further improve production yield. Reliable reports suggest that the global population is likely to surpass a mammoth 8 billion by 2030, which will in turn increase the demand of ammonium nitrate-based fertilizers in the years to come, given the subsequent surge in the demand for food.

The agriculture industry has emerged as the key end-user domain for ammonium nitrate market

Since plant roots are incapable of directly absorbing nitrogen(N) from urea-based fertilizers on a large extent, many farmers nowadays prefer a quick absorbing nitrate source for plant nutrition and opt for ammonium nitrate as their N fertilizer. It is widely used for pasture and broadacre crops due to almost zero ammonia volatilization loss offering, compared to urea-based fertilizers.

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

Ammonium nitrate is also a vital ingredient for making mining explosives worldwide. The mining industry mostly relies on low-density ammonium nitrate (LDAN) that is used as a high-quality, cost-efficient mining explosive & blasting agent, particularly with ANFO (Ammonium Nitrate/ Fuel Oil) or in emulsion-type explosives. On account of the product’s fast oil absorbing property, excellent sensitivity to shock waves and flexibility, LDAN market is anticipated to grow at a CAGR of 4% over 2018-2025.

Apart from the agricultural industry, the mining & quarrying sector is a vital end-use domain for the ammonium nitrate market. Indeed, several mining, quarrying & construction industries use ammonium nitrate as an essential part for their blasting operations. Ammonium nitrate in its prill form is the primary ingredient in ANFO-based products and the key component in a full range of customized bulk explosive blends. Aided by the expansive number of drilling operations in the global oil and gas exploration sector, ammonium nitrate market share from mining & quarrying applications will register a CAGR of 1.7% over 2018-2025.

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Speaking of the regional terrain, it is pivotal to mention that the Asia Pacific will stand as a pivotal revenue ground for the ammonium nitrate market. The growth can be aptly attributed to the fact that China is rapidly emerging as one of the largest mining countries in the world, particularly for rare-earth commodities. Increasing exploration activities in the oil & gas sector and rising mining and quarrying activities in the countries like India & China will boost the demand for ammonium nitrate for manufacturing explosives in the coming years. Furthermore, rapid growth in the agriculture sector owing to increasing development in agro-based countries will propel the APAC ammonium nitrate market share.

Another regional contributor, India, has also been making massive strides in terms of sales and revenue. According to the IBEF 2018 report, during the 2017-18 crop year, India’s food grain production was estimated to record 284.83 million tons, while, in 2018-19, the Government of India anticipates garnering enhanced food grain production, which would help augment the market growth. As per estimates, APAC ammonium nitrate market size is set to register a CAGR of 3.1% over 2018-2025.

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:
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Resembling a crystalline chemical compound, ammonium nitrate is highly water soluble and stable at lower temperatures, however, decomposes explosively at the temperatures above 200°C (390°F). The chemical is widely used in agriculture fertilizers and mining explosives. The growing demand for fertilizers, increasing food demand and rising mining activities around the world will drive the growth of the ammonium nitrate market. Furthermore, reports from Global Market Insights, Inc., cite that the global ammonium nitrate market will exceed $23 billion by 2025.

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