Rapid Industrialization to Boost Ammonium Nitrate Market Growth by 2017-2027

Market Definition and Introduction

Ammonium nitrate is a chemical compound, & is a type of nitrate salt. It is a white, water-soluble crystalline solid, with high detonation velocity properties. It finds extensive applications in agriculture as a fertilizer, and as an explosive and a blasting agent in mining, quarrying, civilian and military applications. It could be produced via the chemical reaction of nitric acid with ammonia, or through other available commercial processes. The high density prills of ammonium nitrate find use as fertilizers, whereas the low density prills are used in explosives. In agriculture, ammonium nitrate has been found to improve the nitrogen content of the soil, which is necessary for achieving economy in farming. The fast rising demand for agricultural produce as a food source has been relying on nitrogen rich fertilizers such as ammonium nitrate, thereby making it a vital chemical product. Besides, it displays lower losses vis-à-vis urea based fertilizers, thereby making it a preferred choice when elimination of fertilizer losses are of prime concern. This is so because ammonium nitrate does not rapidly lose nitrogen content to the atmosphere as compared to urea based fertilizers. In recent times, there have been developments to improve the absorption amounts of ammonium nitrate by plants, which has been proving to be an advantage for farmers. Ammonium nitrate has been found to display pain alleviation & heat absorption properties. Hence, in the field of sports, instant cold packs containing ammonium nitrate find use to treat first aid injuries. It also finds an important application as a raw material for the manufacture of nitrous oxide, which is used in medicine.

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Considering these important aspects of applications of ammonium nitrate, the study of the ammonium nitrate market becomes an important read.

Market Segmentation

On the basis of end use, the ammonium nitrate market is segmented as follows:

Fertilizers
Commercial & Civilian Explosives & Blasting Agents
Military Explosives
Nitrous Oxide Manufacture

On the basis of application industry, the ammonium nitrate market is segmented as follows:

Agriculture
Explosives
Others

Key Trends, Drivers

Since the past few years, increasingly stringent regulations with regard to the production, transportation and storage of ammonium nitrate have been posing a challenge to ammonium nitrate producers. Also, the certification and storage standards for ammonium nitrate are being continually renewed through various legislations by different countries. This, to an extent, has been dampening the growth rate of the ammonium nitrate market at a global level. Besides, as a result of the unfavorable agricultural subsidy policy changes in Western Europe, the growth of the European ammonium nitrate has been adversely affected. This situation is also been aggravated by the fact that urea has been proving to be an attractive substitute for ammonium nitrate as a high nitrogen content, relatively cheaper fertilizer, with no major safety issues. Besides, there are issues of groundwater contamination by ammonium nitrate in agricultural areas with high rainfall, thereby posing risks for human and animal health. Ammonium nitrate also needs to be stored in air-tight warehousing facilities due to its hygroscopic nature, thereby increasing storage costs. Also, special care needs to be taken with regard to fire & explosion hazard caused by ammonium nitrate during storage & transport. All these factors have been proving to be a deterrent for the rapid demand growth of ammonium nitrate, at a global level.

However, there has been an increasing consumption of ammonium nitrate across regions in both the prime application sectors/industries – agriculture and explosives. Also, existing manufacturing facilities by major manufacturers of ammonium nitrate are being either expanded or modernized to increase the operational effectiveness, so as to meet the rising ammonium nitrate demand in specific geographies.

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Market Participants

Examples of the market participants in the ammonium nitrate market are as follows:

Orica Limited
Dyno Nobel
Enaex
Yara International ASA
PotashCorp
Vale Fertilizantes
Wesfarmers Limited
JSC Acron
MAXAMCorp Holding, S.L.
UralChem

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This release was published on openPR.