Global Ammonium Nitrate Market Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Ammonium Nitrate Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global ammonium nitrate market report has been segmented on the basis of application, end-user, and region.
Global Ammonium Nitrate Market: Overview
Ammonium nitrate is a chemical compound with chemical formula NH4NO3. The nitrate salt of ammonium cation is a white crystalline solid which is highly soluble in water and is widely used as fertilizer and explosive. The compound is produced by the acid-base reaction of anhydrous ammonia with concentrated nitric acid. In addition, ammonium nitrate is used for preservation of food as it forms an excellent cold pack when united with water in equal quantity by rapidly dropping temperature to 2 or 3 degree Celsius.
Global Ammonium Nitrate Market: Dynamics
Increasing use of ammonium nitrate in fertilizer production to enhance yield and quality of crops is a major factor expected to drive growth of the global ammonium nitrate market. Growing population, coupled with increasing food demand globally, are some of the factors estimated to fuel growth of the target market. Moreover, increasing adoption of product in explosives for mining & quarry activities, rising demand for ammonium nitrate in surface treatment and plasticizer applications, and growing demand for the product as a preservative from food sector, are among some other factors expected to propel growth of the target market.
However, increasing consumption of urea owing to its easy handling and cost-effectiveness may hamper demand for the products and restrain growth of the global market over the forecast period. In addition, stringent rules and regulations on use of ammonium nitrate in fertilizers may affect adoption of products in the future.
Increasing demand for ammonium nitrate in medical sector owing to its pain alleviation and heat absorption properties is a factor anticipated to create opportunity for the manufacturers, and is expected to support revenue growth of the target market.
Global Ammonium Nitrate Market: Segment Analysis
Among the application segments, the fertilizers segment is expected to account major revenue share in the target market, and is expected to maintain its dominance over the forecast period. This can be attributed to increasing population, coupled with increasing demand for food across the globe.
Among the end-user segments, the mining & quarry segment is anticipated to register significant growth share over the forecast period, owing to increasing use of explosives, coupled with growing mining activities in developing countries.
Global Ammonium Nitrate Market: Regional Analysis
Currently, the ammonium nitrate market in Europe is estimated to account for highest revenue share contribution, and expected to dominate in the global market over the forecast period. This dominance can be attributed to rapid industrialization, coupled with growing mining and construction activities in the region. The market in Asia Pacific is projected to grow at a rapid rate, owing to increasing demand for various application especially in fertilizers in countries such as China, Japan, India, and others. The market in North America is expected to register moderate revenue growth, owing to rising demand for ammonium nitrate from construction, mining & quarry, and other end users.
Global Ammonium Nitrate Market Segmentation:
Segmentation on the Basis of Application:
- Others (Oxidizing Agent, Plasticizers, etc.)
Segmentation on the Basis of End-user:
- Mining & Quarry
- Others (Defense, Pyrotechniques, Medical, etc.)
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Orica Limited
- Yara International ASA
- Enaex S.A.
- Incitec Pivot Limited
- Neochim PLC
- URALCHEM Holding P.L.C.
- San Corporation
- CF Industries Holdings, Inc.
- EuroChem Group AG
- Austin Powder Company
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