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Key Trends Shaping the Future Ammonium Nitrate Market From 2025-2034: Innovations In Low-Carbon Footprint Ammonium Nitrate With Fertiberia's Green Hydrogen Breakthrough
Key Trends Shaping the Future Ammonium Nitrate Market
The acceleration in construction activities is anticipated to stimulate the growth of the ammonium nitrate market. Such activities comprise the structural enhancement of buildings, infrastructure, and other similar constructions. The intensification of these activities can be attributed to swift urbanization, improvement in infrastructures, and an emphasis on precision and productivity in construction projects. The role of ammonium nitrate in construction is vital as it aids in the disintegration of tough materials and supports large-scale excavation and demolition assignments. Its usage is stringently regulated to ensure the safety of the workers and protect the environment. As an illustration, in July 2024, the US Census Bureau, a government agency in the US, stated that the cost of construction works escalated from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Consequently, the escalating construction activities are fueling the ammonium nitrate market growth.
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How will the growth rate of the ammonium nitrate market shape industry trends by 2034?
In recent times, the ammonium nitrate market has witnessed substantial growth. The market size, which was $19.4 billion in 2024, is anticipated to increase to $20.56 billion by 2025, showing a Compound Annual Growth Rate (CAGR) of 6.0%. The commendable growth in the historical period is due to factors such as augmented crop production to ensure food security, growing demand for explosives in sectors like mining and construction, heightened use of ammonium nitrate in mining and quarrying activities, increased necessity for ammonium nitrate in the defense sector, and a surge in the application of ammonium nitrate in the pharmaceutical industry.
The market for ammonium nitrate is anticipated to experience considerable expansion over the coming years, expected to reach a value of $25.61 billion in 2029, growing at a compound annual growth rate (CAGR) of 5.6%. The projected growth over the specified period can be ascribed to factors such as an increase in the demand for ammonium nitrate-fuel oil, escalating fertilizer requirements in the agricultural industry, burgeoning use of ammonium nitrate in farming, the substantial nitrogen content in ammonium nitrate, coupled with enhanced crop yield and quality. Key trends expected during this forecasted period are the demand for coated ammonium nitrate granules, the development of new formulations for better efficiency and safety, innovative manufacturing techniques for a superior quality product, the use of high-nitrogen fertilizers for boosting agricultural productivity, as well as new product introductions and collaborations.
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What trends are poised to drive the future success of the ammonium nitrate market?
Key players in the ammonium nitrate market are steering their focus towards creating innovative products such as low-carbon-footprint ammonium nitrate to accomplish their sustainability objectives. Low-carbon footprint ammonium nitrate is a version of ammonium nitrate produced through forward-thinking technologies and sustainable methods, significantly diminishing greenhouse gas emissions in comparison to traditional production processes. For example, Fertiberia, a fertilizer and chemicals manufacturing firm based in Spain, launched the first-ever low-carbon technical ammonium nitrate produced with green hydrogen in September 2023. This distinct low-carbon TAN is manufactured at Fertiberia's Puertollano (Ciudad Real) site and is set to be used across the mining and civil infrastructure markets throughout Europe, the Middle East, and Africa. Its key differentiator is that it utilises renewable hydrogen instead of natural gas in production.
Which primary segments of the ammonium nitrate market are driving growth and industry transformations?
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
Subsegments:
1) By High Density: High-Density Ammonium Nitrate For Industrial Explosives, High-Density Ammonium Nitrate For Mining And Quarrying, High-Density Ammonium Nitrate For Agricultural Fertilizers, High-Density Ammonium Nitrate For Demolition And Construction
2) By Low Density: Low-Density Ammonium Nitrate For Fertilizer Production, Low-Density Ammonium Nitrate For Explosives In Agriculture, Low-Density Ammonium Nitrate For Controlled-Release Fertilizers
3) By Other Product Types: Ammonium Nitrate Solution (Liquid Form), Ammonium Nitrate With Additives (Prilled With Anti-caking Agents), Specialty Ammonium Nitrate For Specific Applications (Automotive Or Military Use)
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Which geographical regions are pioneering growth in the ammonium nitrate market?
North America was the largest region in the ammonium nitrate market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ammonium nitrate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the ammonium nitrate market landscape?
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.
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What Is Covered In The Ammonium Nitrate Global Market Report?
•Market Size Forecast: Examine the ammonium nitrate market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the ammonium nitrate market for a structured understanding.
•Key Players Overview: Analyze major players in the ammonium nitrate market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ammonium nitrate market.
•Segment Contributions: Evaluate how different segments drive overall growth in the ammonium nitrate market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ammonium nitrate market.
•Industry Challenges: Identify potential risks and obstacles affecting the ammonium nitrate market.
•Competitive Landscape: Review strategic developments in the ammonium nitrate market, including expansions, agreements, and new product launches.
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