Ammonium Nitrate Market Research, Growth Opportunities, Analysis and Forecasts Report 2029 | EuroChem, Uralchem, OSTCHEM Holding, Borealis

The ammonium nitrate market was worth more than USD 14.5 billion in 2020 and is projected to increase at a CAGR of 3.3% from 2022 to 2029 as a result of the rising need to produce enough food, as well as growing worries about the availability of arable land globally and the rapid population growth, which have all encouraged the adoption of high-quality fertilizers to meet the demand for food. A white crystalline solid chemical compound made of ammonium and nitrate ions is known as ammonium nitrate. Due to its abundant source of nitrogen, it is frequently used as fertilizer. Ammonium nitrate can aggressively break down at high temperatures, which makes it useful as an explosive in the mining industry. Additionally, the chemical compound is widely employed in food preservation applications due to its great hygroscopic nature. Fertilizers often include macronutrients like potassium, phosphorus, and nitrogen. A significant portion of these is nitrogen fertilizers, followed by phosphate and potash. Fertilizers containing nitrogen are frequently used in agriculture to promote crop development. Food security is affected by a number of factors, including increased urbanization, rising disposable income in developing nations, and swift changes in dietary habits. Due to the global population expansion, there will certainly be a rise in food demand. The population of the world was 7.6 billion in 2017 and will increase to 9.8 billion by 2050, according to the UN. Global food consumption is being driven by rising population and rising affluence in emerging economies. Over the years, the agriculture industry has seen a significant transformation as farmers worldwide concentrate on boosting crop production. Additionally, the total amount of arable land in the world is limited will greatly increase the use of fertilizers, which will ultimately increase the ammonium nitrate market share throughout the anticipated time frame.

(SPECIAL OFFER: Flat 20% DISCOUNT FOR A LIMITED TIME)
Request Free Sample Pages of this report:
https://www.infinitybusinessinsights.com/request_sample.php?id=650541&mode=V087

Top Key Players are covered in this report:
EuroChem, Uralchem, OSTCHEM Holding, Borealis, Acron, Yara, SBU Azot, Incitec Pivot, Zaklady, Orica, CF Industries, CSBP, Enaex, KuibyshevAzot, Minudobreniya(Rossosh), DFPCL, Xinghua Chemical, Liuzhou Chemical, Jiehua Chemical, GESC, Holitech, Jinkai Group, Urals Fertilizer, Sichun Chemical, Shangxi Tianji, Fujian Shaohua, Sichuan Lutianhua

In the foreseeable future, favorable agro-food policies will also support the demand for ammonium nitrate. Extreme weather events and rapid climate change significantly expand the industry's potential for expansion. Over the course of the evaluation period, product consumption will be driven in addition to the agricultural sector by the expanding metal mining and construction industries. However, rising inflation and erratic raw material costs could stifle future corporate expansion. Furthermore, revenue generation may be constrained by safety precautions, health effects, and environmental issues. Inhaling concentrated ammonium nitrate, for instance, may irritate the respiratory tract. Additionally, the recent COVID-19 epidemic had a negative effect on the scale of the business due to production stops, workforce difficulties, and supply chain disruptions. In 2016, the size of the world market for ammonium nitrate was assessed at USD 4.67 billion. The market is anticipated to develop due to the rising demand for the product as a source of nitrogen in fertilizers. Additionally, the substance is in high demand as an oxidizing agent in the production of explosives, which is predicted to spur industrial expansion. The manufacturing of ammonium nitrate is made easier by the widespread availability of essential raw materials, such as nitric acid and sodium carbonate. Because of the intense rivalry in the market, the majority of industry companies have used integrated techniques from raw material manufacture to distribution to combat diminishing profit margins.

Browse the report description and table of contents:
https://www.infinitybusinessinsights.com/reports/global-ammonium-nitrate-market-2021-by-manufacturers-regions-type-and-application-forecast-to-2026-650541?mode=V087

The demand for high-quality crops is rising quickly, which has increased the use of fertilizers in recent years. To meet the soaring demand, this has the Low-Light Imaging Market to the remodeling and extension of more outdated production facilities as well as the construction of new ammonium nitrate manufacturing facilities. Ammonium nitrate was used in a number of terrorist attacks in recent years, which forced the government to rewrite strict rules on the product's use. The limitation was put in place primarily to prevent the chemical from being used to make fertilizer bombs, which is anticipated to hurt the market. Ammonium nitrate is an effective fertilizer because it easily dissolves in soil water and is then immediately absorbed by plants. Ammonium nitrate is a common fertilizer used by vegetable gardeners since it is a readily available source of nutrients for plants. Livestock farmers like it for fertilizing pastures and hay because it is less susceptible to volatilization losses when left on the soil surface. Ammonium nitrate is excellent for making fertilization solutions or sprays due to its high solubility. As a result, the market is being driven by the rising need for fertilizers, which has in turn raised the demand for and consumption of ammonium nitrate. The availability of substitutes, however, limits market expansion. To prevent ammonium nitrate from being used improperly in a terrorist act, the government has imposed tight regulations regarding its production, storage, transit, and usage. The rising usage of the other available alternatives in the application segments of fertilizers and explosives will impede the expansion of the demand for ammonium nitrate. Food security is impacted by a number of variables, including the high urbanization rate, rising disposable income in emerging economies, and quickly changing eating habits. With the world's population growing, so will the demand for food. The agriculture sector will benefit from population growth and the increase in average incomes, which will ultimately increase demand for ammonium nitrate.

Contact Us
481 Mundet Place,
Hillside, New Jersey,
United States, Zip 07205
Phone: +1 518 300 3575
Email : inquiry@infinitybusinessinsights.com
Web: https://www.infinitybusinessinsights.com/

Infinity Business Insights is a market research company that offers market and business research intelligence all around the world. We are specialized in offering services in various industry verticals to recognize their highest-value chance, address their most analytical challenges, and alter their work.

This release was published on openPR.