What impact will mining activities have on global ammonium nitrate market forecast?

Global Ammonium nitrate market size is expected to witness considerable momentum owing to the growing demand for fertilizers across the world and rising product applications in various end-user industries like mining, construction, and quarry work. This chemical is commonly used in fertilizers to improve the content and quality of the crops as well as enhance the natural fertility of the soil.

It has also been observed that the fertilizer demand is on rise in the APAC and Latin America regions due to the rising demand for food as the population surges. Consistent demand for metals for numerous industrial and manufacturing applications will bolster the mining sector, fueling the consumption of ammonium nitrate.

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Escalating demand for fertilizers on a global scale is expected to add significant impetus to ammonium nitrate market share over the forecast spell. One of the key contributors to this rising demand from the agriculture domain is robust food demand stemming from surging population levels.

Fertilizers are known for their capacity to improve crop output volume as well as enhance quality of the products, which is likely to further stimulate ammonium nitrate industry demand. According to estimates from authentic reports, global ammonium nitrate market size is expected to exceed $20 billion by 2025.

Reports estimate that global ammonium nitrate market share from mining and quarrying end-use segments is expected to record 1.7% CAGR from 2018-2025. The rapid increase in the exploration of new sites across various geographies along with major investments in several drilling programs will surge the production of rare earth metals.

It is widely known that China has become a dominant player in mining activities and especially for rare-earth commodities, whereas the U.S. is another contender in mining related to oil & gas extraction and mining activities support.

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The mining sector is extensively using low-density ammonium nitrate (LDAN) as this chemical is affordable and suitable for mining explosive & blasting agent and is used as porosity control agents and anti-caking coatings.

Growing food grain production and rapid advancements in the agricultural sector along with expansion of construction activities in the region will stimulate the demand for ammonium nitrate considerably. Asia Pacific ammonium nitrate market is estimated to grow with more than 3.1% CAGR from 2018-2025.

The demand for food and various other products from agricultural systems will surge over the next few decades so to feed the growing population the farmers have to keep their soils healthy and full of nutrient.

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https://www.globenewswire.com/news-release/2016/10/18/880265/0/en/Specialty-Chemicals-Market-size-worth-1-273-billion-by-2024-Global-Market-Insights-Inc.html

https://www.prnewswire.com/news-releases/leather-chemicals-market-to-reach-usd-11-42-billion-by-2026--says-global-market-insights-inc-300980524.html

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