Ammonium Nitrate Market in APAC To Rise At 3.1% CAGR Over 2019 to 2025

Ammonium Nitrate Market size is poised to grow at a significant CAGR over the forecast timespan.
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.

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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.

Ammonium Nitrate Market will likely surpass USD 20 billion by 2025; according to a new research report. 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.

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 product ammonium nitrate market growth may be hindered due to the availability of the substitutes and fluctuating raw material prices over the forecast time frame. The availability of the substitute products including urea, NPK (nitrogen, phosphorous, and potassium) fertilizers, etc. may slow down the market growth. Due to hazardous and explosive nature of the product, it is governed by stringent governmental regulations which will further drive the need for alternative products in the upcoming years.

The ammonium nitrate market has been categorized according to product and end-use. High density ammonium nitrate (HDAN) is expected to have the largest share among the product segments and will grow at approximately 5.5% CAGR in the upcoming years. Owing to its non-porous structure and purified state, HDAN is used as an oxidizing agent in wet environment.

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Based on end-user, ammonium nitrate market has been further segmented as civil construction, mining & quarrying, agriculture and others such as pyro techniques, defense, etc. Ammonium nitrate is used in manufacturing process of explosives that are used for mining applications. U.S. and China are the major countries involved in mining activities. The growth in mining activity in these countries will create further opportunities, leading to around 5% CAGR of the mining and quarrying sector.

Europe held the largest share among all the regions due to rising building and infrastructure activities in major European countries. Growing construction industry will further create an opportunity for the product in the region owing to its wide usage as an explosive in construction industry. Asia Pacific will also be a key region due to growing mining activities in Asian countries and proliferation of the agriculture sector in the emerging countries, which will further push the product demand across the region. Latin America will also increase its market share in the forecast time period owing to rising demand for the explosive products in the major countries.

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

Fertiberia, Yara International, Ostchem, Eurochem, CF Industries Holdings, Austin Powder International, Orica are some of the key ammonium nitrate market participants.

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