Ammonium Nitrate Market Research Highlights 2023: Leading Growth Drivers, Astonishing CAGR, and Geography Outlook 2030 | Orica, Enaex, Austin Powder Company

The Ammonium Nitrate Market size is expected to reach US$ 25.86 billion by 2030, from US$ 18.38 billion in 2023, at a CAGR of 5% during the forecast period. - as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Ammonium nitrate is a white crystalline solid with the formula NH4NO3. It is primarily used as a fertilizer in the agriculture industry due to its high nitrogen content. It is also commonly used as an oxidizer in explosives.

Market Dynamics:

The ammonium nitrate market is expected to witness steady growth over the forecast period, driven by growing demand from the agriculture industry. Ammonium nitrate contains about 34% nitrogen and is widely used as a fertilizer due to its ability to release nitrogen slowly and evenly over an entire growing season. According to FAOSTAT, worldwide nitrogen fertilizer consumption has increased from about 89 million tons in 2000 to over 110 million tons in 2020. Rising global population and agricultural production is expected to increase demand for nitrogen fertilizers. Additionally, ammonium nitrate blasting formulations are commonly used for mining and construction activities. Growing infrastructural and mining projects is another factor fueling demand.

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Top Companies Covered In This Report:

★ Orica
★ Enaex
★ Austin Powder Company
★ Incitec Pivot
★ CSBP
★ Yara International
★ San Corporation
★ Fertiberia
★ Neochim
★ URALCHEM Holding
★ Dyno Nobel
★ Vijay Gas Industry
★ Solar Industries
★ Maxam
★ AEL Mining Services
★ EPC Groupe
★ Gulf Oil Corporation
★ IDEAL Industrial Explosives
★ Sichuan Meifeng Chemical Industry
★ Jiaocheng Jinxin Chemical

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

By Applications:

★ Mining
★ Quarrying
★ Civil Construction
★ Others

By End-use Industry:

★ Agriculture
★ Mining
★ Pharmaceutical
★ Plastics
★ Pulp and Paper
★ Others

By Grade:

★ Agriculture Grade
★ Industrial Grade
★ Food Grade
★ Technical Grade
★ Others

Key Region/Countries are Classified as Follows:

â—˜ North America (United States, Canada, and Mexico)
â—˜ Europe (Germany, France, UK, Russia, and Italy)
â—˜ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
â—˜ South America (Brazil, Argentina, Colombia, etc.)
â—˜ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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Major Demand from Fertilizer Manufacturing Boosts Ammonium Nitrate Market Growth

With rising global population comes rising demand for food, which in turn increases the demand for fertilizers. Ammonium nitrate is a vital ingredient that is used extensively in fertilizer manufacturing to provide nitrogen to crops and boost their yield. As agricultural lands become scarce, fertilizer use plays an increasingly important role in feeding the world sustainably. The ammonium nitrate market is driven significantly by increasing fertilizer production and consumption globally as more farmer look to maximize output from their fields. Asia Pacific region in particular has seen rising fertilizer use over past decades due to large populace and focus on improving farm productivity. Leading fertilizer manufacturing nations like China, India continue to drive volume gains for ammonium nitrate.

Stringent Regulations on Industrial Explosive Usage Pose a Challenge

While ammonium nitrate has widespread applications, it is also commonly used as an industrial explosive. However, safety and security concerns have led many countries to impose strict controls on the production and distribution of ammonium nitrate for explosive purposes. The terrorist attack in Oklahoma city in 1995 drastically changed regulations around storage and transportation of ammonium nitrate in the United States. Similarly, rules were tightened globally after ammonium nitrate was used in 2011 Norway attacks. The European Union also brought in directives to improve security. Such regulations have made the procurement and handling of ammonium nitrate for explosives more difficult. This represents a challenge for those industries and end users who rely on ammonium nitrate for blasting and quarrying activities.

Rising Energy Needs Present an Opportunity in ANFO Production

Ammonium nitrate mixed with fuel oil (ANFO) finds extensive application as a low-cost, bulk industrial explosive especially in mining and quarrying industries. With rising global energy demand and focus on scaling up coal and metal extraction, demand for industrial explosives is set to grow steadily. The widespread availability and cost-effectiveness of ANFO makes it the explosive of choice for many large-scale blasting projects involved in mining, energy production, construction etc. The ammonium nitrate market stands to benefit from this opportunity as ANFO demand is tied directly to the levels of mining and energy sector activities worldwide. Countries with thriving coal and metals mining industries like China, India, USA are key markets.

Shift Towards Specialty Fertilizers to Impact AN Consumption Patterns

With a need to improve nutrient use efficiency and crop yields, the global fertilizer industry is moving towards specialty or customized fertilizers. Straight nitrogen fertilizers like ammonium nitrate are losing ground to products offering controlled or slow release of nutrients.Compound or complex fertilizers blended with multiple nutrients necessary for plant growth are also gaining traction. This changing paradigm will affect ammonium nitrate consumption trends. While overall fertilizer demand and thereby AN requirements may rise, specialty fertilizers reducing reliance on straight nitrogen sources can impact AN volumes specifically. The shift is more prominent in developed markets and among high-value crops. The ammonium nitrate market will need innovative product strategies to tap specialty fertilizer growth areas.

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Key Questions Answered in This Report on Ammonium Nitrate Market

• How much revenue will the global Ammonium Nitrate Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall global market?

• What are the indicators expected to drive the global Ammonium Nitrate Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Market to expand their geographical presence?

• What are the major advancements witnessed in the global Ammonium Nitrate Market?

• This report answers these questions and more about the global Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Ammonium Nitrate Market Insights

3.1 Market fragmentation
3.2 Market landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Ammonium Nitrate Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.