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Ammonium Nitrate Market Research, Size, Share And Demand Analysis By 2033
Ammonium Nitrate Market
As per the report, the ammonium nitrate market size has grown strongly in recent years. It will grow from $18.40 billion in 2023 to $19.40 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The ammonium nitrate market size is expected to see strong growth in the next few years. It will grow to $24.24 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
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The Ammonium Nitrate Market Is Poised For Growth Driven By The Booming Construction Industry
The increasing construction activities are expected to propel the growth of the ammonium nitrate market going forward. Construction activities involve the physical development of buildings, infrastructure, and other structures. The increasing construction activities are due to rapid urbanization, infrastructure development, and a focus on efficiency and accuracy in building projects. Ammonium nitrate's role in construction is crucial due to its effectiveness in breaking up hard materials and facilitating large-scale excavation and demolition projects. It is strictly used to control workers' safety and the surrounding environment. For instance, in December 2021, according to the United States Census Bureau, a US-based government agency, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, with a growth rate of 10.2%. Therefore, the increasing construction activities drive the ammonium nitrate market.
Innovations In Low-Carbon Footprint Ammonium Nitrate With Fertiberia's Green Hydrogen Breakthrough
Major companies operating in the ammonium nitrate market focus on developing innovative products such as low-carbon-footprint ammonium nitrate to meet sustainability goals. Low-carbon footprint ammonium nitrate refers to ammonium nitrate produced using innovative technologies and sustainable practices to reduce greenhouse gas emissions significantly compared to conventional production methods. For instance, in September 2023, Fertiberia, a Spain-based fertilizer and chemicals manufacturing company, launched the world's first low-carbon technical ammonium nitrate produced with green hydrogen. The special feature of this low-carbon TAN, which is produced at Fertiberia's plant in Puertollano (Ciudad Real) and will be used in the mining and civil infrastructure markets across Europe, the Middle East, and Africa, is that it is produced from renewable hydrogen, replacing natural gas.
The ammonium nitrate market covered in this report is segmented -
1) By Product Type: High Density, Low Density, Other Product Types
2) By Application: Fertilizers, Explosives, Other Applications
3) By End-User Industry: Agriculture, Mining, Defense, Other End-User Industries
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Major companies operating in the ammonium nitrate market are Nutrien Ltd., Yara International ASA, Abu Qir Fertilizers and Chemicals Company, Sasol Ltd., Borealis AG, Potash Corporation of Saskatchewan Inc., CF Industries Holdings, Inc., Ube Industries Ltd., EuroChem Group AG, Orica Limited, Incitec Pivot Ltd., Chambal Fertilisers and Chemicals Ltd., Dyno Nobel, Austin Powder Company, Enaex, OSTCHEM Holding AG, URALCHEM JSC, Fertiberia S.A., Neochim Plc, JSC Belaruskali, Machhar Industries Limited, GPN GmbH, Lovochemie A.S., San Corporation, Vijay Gas Industry Pvt. Ltd.
Contents of the report:
1. Executive Summary
2. Ammonium Nitrate Market Report Structure
3. Ammonium Nitrate Market Trends And Strategies
4. Ammonium Nitrate Market - Macro Economic Scenario
5. Ammonium Nitrate Market Size And Growth
…..
27. Ammonium Nitrate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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