The Global Ammonium Nitrate Market size was valued at US$ 5.67 billion in 2021 is anticipated to reach US$ 6.74 billion by the end of 2026, increasing at a CAGR of 3.9% during 2021 and 2026.
Global Ammonium Nitrate Market Scenario:
The increasing demand for ammonium nitrate by the agriculture industry and the rapid increase in the need for ammonium nitrate fuel oil are the essential features that boost the global ammonium market growth in the upcoming years. Ammonium nitrate is a chemical compound and is derived as NH4NO3. It comprises ammonium and nitrate ions. Ammonium nitrate is defined as a white crystalline solid which is highly soluble in water and hygroscopic as a solid. Therefore, it does not form any hydrates and is significantly used in the agricultural sector. These are some of the characteristics that drive the global ammonium nitrate market growth during the forecast period.
In recent years, the rising global population and growing concerns towards food safety have uplifted the widespread adoption of several inorganic fertilizers across the agriculture landscape. Ammonium nitrate is a chemical compound produced from ammonium and nitric acid. It decomposes above 210 degrees Celsius, in other words, 410 degrees Fahrenheit. It is especially soluble in water and alcohol. Ammonium nitrate is widely utilized in explosives, antibiotics, fertilizers, and yeast due to these features. Furthermore, it is hygroscopic, which absorbs moisture from the air and makes it suitable for preserving food. In addition, usage of ammonium nitrate in agricultural fields and gardens strengthens plant growth by offering an overall supply of nitrogen which helps in improving fruit & seed production and provides better yield.
The reduction in the overall arable land per person worldwide will further build up the usage of fertilizers in the market that steadily fuels the global ammonium market share. On the other hand, the increasing growth in the agricultural sector from developing nations and the rising mining and construction sector is also responsible for the considerate growth of the global ammonium market. In addition, the focus of developing countries and the advent of self-reliance to incubate and integrate the domestic resources sector is anticipated to fuel the product demand from several end-user industries. Moreover, the rapid infrastructure development in emerging economies also significantly boosts the ammonium nitrate market growth. Furthermore, from the past few years, various terrorist acts indulged the use of ammonium nitrate and made the government revamp rules and regulations regarding the usage of the product.
Moreover, the increasing demand for high-quality crops is steadily escalating the need for fertilizers in recent years. Therefore, manufacturers were constructing a new ammonium nitrate plant to satisfy the rising demand. Thus, fuels the global ammonium market growth during the forecast period.
Ammonium nitrate is proved to be safe and accessible for fertilizer. But still, in various emerging economies, including India and the United States, the ammonium nitrate is restricted to the consumers owing to the manufacture of fertilizer bombs using ammonium nitrate is projected to hamper the global ammonium nitrate market growth. In addition, fluctuations in the prices of ammonium and nitric acid may further hinder market growth. Moreover, using high concentrations of ammonium nitrate may cause salts to form soil. On the other hand, inhalation of high concentrations of ammonium nitrate may irritate the respiratory tract and also experiences coughing, sore throat, and shortness of breath.
Furthermore, when combined with combustible material, ammonium nitrate increases the burning stage of the material and forms toxic acids. When ammonium nitrate is inhaled in high concentrations, it may cause dizziness, vomiting, abdominal pain, headache, diarrhea, weakness, and suffocation. Apart from this, the most crucial restraint is the high price of nitrogen per pound, which further slows down the global ammonium nitrate market growth during the forecast period.
Croda international announced the new emulsifiers for the low-quality ammonium nitrate explosives. It further added that emulsion stability is necessary for the explosives sector, and lowered strength often results in fewer alternative materials include recycled oil and ammonium nitrate.
Enaex declares that ammonium nitrate is a high-quality blasting agent which is specially manufactured for explosive blends. Moreover, it is of high capacity for absorption of oil.
Based on the product, high density ammonium nitrate held the most prominent global ammonium market share, almost 50% of the overall market share. It is due to their increasing utilization in the agricultural industry as a fertilizer. High density ammonium nitrate possesses various characteristics. It can be easily converted into a melting state and can be broadly used to produce emulsion explosives and water gel. Therefore, high density ammonium nitrate boosts the market growth in the upcoming years.
Granular form plays the dominant role in the global ammonium nitrate market owing to its increasing demand from the manufacturing sectors as it is being used as a blasting agent and possesses heat absorption characteristics. Therefore, it is anticipated to have the largest global ammonium market share during 2021-2026.
By End User:
The agriculture sector predominantly secures the highest global ammonium market share owing to the increasing utilization of fertilizers. On the other hand, the civil construction end-user tends to have the maximum CAGR since it is used as an explosive for several applications, including tunneling, underground development, excavation for railways, delay detonators, etc. Therefore, this sector further fuels the global ammonium nitrate market growth in the near future.
The Global Ammonium Nitrate Market Report includes the segmentation of Regions:
The Asia Pacific region held the largest share in the global allantoin market owing to the increasing agriculture sector and construction sector. Moreover, India and China are the largest producers of agricultural products, which further drives the market growth.
North America is anticipated to have the highest global ammonium nitrate volume owing to the rapid increase in the agriculture sector, mainly in the U.S.
The presence of the manufacturers from the agriculture sector in the U.K. and Germany led the global ammonium nitrate market to have significant growth in the European region.
Middle East & Africa is witnessed to have the steady growth in the global ammonium nitrate market.
The COVID-19 virus was discovered in 2020, which has made several people’s lives miserable. On the other hand, industries were demanded to close down due to rapidly spreading the virus across the globe. To curb the virus, the government has imposed a lockdown that has devastated many families and industries. The production of ammonium nitrate is decreased at a certain level owing to the sectors under lockdown and lack of workforce. The global ammonium nitrate market is estimated to increase the demand for ammonium nitrate since the lockdown has been lifted across the globe, and everything seems to be expected.
The companies covered in the report include:
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Ammonium Nitrate Market , By Product
6.1.1 High density ammonium nitrate
6.1.2 Low density ammonium nitrate
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Ammonium Nitrate Market , By Form
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Ammonium Nitrate Market , By End User
6.3.2 Civil construction
6.3.3 Mining & Quarrying
6.3.5 Market Size Estimations & Forecasts (2021-2026)
6.3.6 Y-o-Y Growth Rate Analysis
6.3.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By Product
7.2.3 By Form
7.2.4 By End User
7.3.1 By Country
18.104.22.168 Rest of Europe
7.3.2 By Product
7.3.3 By Form
7.3.4 By End User
7.4 Asia Pacific
7.4.1 By Country
22.214.171.124 South Korea
126.96.36.199 South East Asia
188.8.131.52 Australia & NZ
184.108.40.206 Rest of Asia-Pacific
7.4.2 By Product
7.4.3 By Form
7.4.4 By End User
7.5 Latin America
7.5.1 By Country
220.127.116.11 Rest of Latin America
7.5.2 By Product
7.5.3 By Form
7.5.4 By End User
7.6 Middle East and Africa
7.6.1 By Country
18.104.22.168 Middle East
7.6.2 By Product
7.6.3 By Form
7.6.4 By End User
8. Key Player Analysis
8.1 CF Industries
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Croda international
8.4 Euro chem
8.6 Johnson Matthey
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Global Ammonium Nitrate Market By Region, From 2021-2026 ( USD Billion )
Global Ammonium Nitrate Market By Product, From 2021-2026 ( USD Billion )
Global High density ammonium nitrate Market By Region, From 2021-2026 ( USD Billion )
Global Low density ammonium nitrate Market By Region, From 2021-2026 ( USD Billion )
Global Ammonium Nitrate Market By Form, From 2021-2026 ( USD Billion )
Global Granular Market By Region, From 2021-2026 ( USD Billion )
Global Powder Market By Region, From 2021-2026 ( USD Billion )
Global Ammonium Nitrate Market By End User , From 2021-2026 ( USD Billion )
Global Agriculture Market By Region, From 2021-2026 ( USD Billion )
Global Civil construction Market By Region, From 2021-2026 ( USD Billion )
Global Mining & Quarrying Market By Region, From 2021-2026 ( USD Billion )
Global Others Market By Region, From 2021-2026 ( USD Billion )