Rising Construction Activities Fuel Growth in the Ammonium Nitrate Market: Strengthening the Growth Trajectory of the Ammonium Nitrate Market

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What Is the Expected CAGR for the Ammonium Nitrate Market Through 2025?
The expansion of the ammonium nitrate market has been prominent in the past few years. The market is predicted to increase from $19.4 billion in 2024 to $20.56 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.0%. Factors such as enhanced crop production to ensure food security, heightened demand for explosives in the fields of mining and construction, an upswing in the employment of ammonium nitrate in mining and quarrying, a surge in requirement for ammonium nitrate in the defense sector, and amplified application of ammonium nitrate in the pharmaceutical industry contributed to the growth observed during the historic period.

What's the Projected Size of the Global Ammonium Nitrate Market by 2029?
In the upcoming years, the ammonium nitrate market is predicted to experience significant growth, reaching a valuation of $25.61 billion by 2029 with a compound annual growth rate (CAGR) of 5.6%. Factors contributing to this growth during the forecast period include an increased demand for ammonium nitrate-fuel oil, a rise in the usage of fertilizers in the agriculture industry, expanded application of ammonium nitrate in agricultural practices, high nitrogen levels in ammonium nitrate, and an upsurge in crop yield and superior crop quality. The forecast period is also expected to witness trends such as the demand for coated ammonium nitrate granules, the development of new formulations for better efficacy and safety, innovative methods of production for enhanced product quality, high-nitrogen fertilizers to boost agricultural productivity, along with product launches and partnerships.

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Top Growth Drivers in the Ammonium Nitrate Industry: What's Accelerating the Market?
The surge in construction activities is projected to boost the ammonium nitrate market's growth. Such activities encompass the physical establishment of buildings, infrastructure, and other constructs. The escalation in construction operations is attributed to fast-paced urbanization, infrastructure enhancements, and the emphasis on precision and effectiveness in construction projects. The role of ammonium nitrate in construction is integral owing to its efficiency in fracturing rigid materials and aiding large-scale excavation and destruction projects. It is rigorously employed for maintaining the safety of the workforce and the environment. For example, as per the US Census Bureau data in July 2024, a governmental agency in the US, the worth of construction undertakings surged from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Consequently, the augmentation in construction activities fuels the growth of the ammonium nitrate market.

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What Trends Will Shape the Ammonium Nitrate Market Through 2029 and Beyond?
Leading businesses in the ammonium nitrate industry are dedicating their efforts to the creation of novel products such as lower-carbon-footprint ammonium nitrate, in order to align with sustainability objectives. This low-carbon footprint variant of ammonium nitrate is manufactured using ground-breaking techniques and sustainable practices, which drastically cut down the emission of greenhouse gases when compared to regular production methods. As an example, Fertiberia, a company based in Spain that manufactures fertilizers and chemicals, introduced the first-ever low-carbon technical ammonium nitrate made with green hydrogen in September 2023. This unique low-carbon TAN is manufactured at Fertiberia's Puertollano (Ciudad Real) plant and is destined for use in the mining and civil infrastructure sectors throughout Europe, Middle East, and Africa. The distinguishing attribute of this TAN is that it is derived from renewable hydrogen instead of natural gas.

What Are the Main Segments in the Ammonium Nitrate Market?
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 Top Companies are Driving Growth in the Ammonium Nitrate Market?
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.

Which Regions Will Dominate the Ammonium Nitrate Market Through 2029?
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.

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