Pune, India, March 09, 2023 (GLOBE NEWSWIRE) -- The global ammonium nitrate market size is expected to showcase substantial growth during the forecast period. This growth is attributable to the increasing demand for high crop yield and the growing government focus for beautification of gardens across public places that will boost the adoption of advanced ammonium nitrate across the globe.
Ammonium nitrate is a chemical compound that is widely used in the fertilizer industry, as well as in various other applications such as explosives, mining, and construction. The ammonium nitrate market is driven by the demand for fertilizers, as well as by the increasing use of ammonium nitrate in the mining and construction industries.
The fertilizers segment holds the largest share in the ammonium nitrate market, due to the growing global population and increasing demand for food. The mining and construction segments are also expected to grow significantly in the coming years, owing to the increasing use of ammonium nitrate as an explosive.
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List of the Companies Operating in the Global Market for Ammonium Nitrate:
- Yara International ASA
- Orica Ltd
- Sigdo Koppers Group
- CF Industries Holdings, Inc.
- Incitec Pivot Ltd.
- Neochim Ad
- EuroChem Group AG
- OSTCHEM Holding Company
- Fertiberia SA
- Borealis AG
- San Corporation
- Abu Qir Fertilizers Co.
- Deepak Fertilisers and Petrochemicals
- CSBP Limited
- Uralchem
- Others
Report Scope:
| Report Attribute | Details |
| Base Year | 2022 |
| Historical Year | 2019 – 2021 |
| Forecast Year | 2023 – 2030 |
| Segments Covered | By Application, By End Use Industries and Regional |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2023 to 2030 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Segmentation:
Ammonium Nitrate market is split by Type and by Application. For the period 2023-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
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Ammonium Nitrate Market Analysis and Insights:
This report aims to provide a comprehensive presentation of the global market for Ammonium Nitrate, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Ammonium Nitrate.
DRIVING FACTORS
There are several driving factors behind the growth of the ammonium nitrate market:
Growing demand for fertilizers: Ammonium nitrate is widely used in the production of fertilizers, which are essential for increasing crop yields and meeting the growing demand for food. The global population is expected to reach 9.7 billion by 2050, which will drive the demand for fertilizers and hence, the ammonium nitrate market.
Increasing use of explosives in mining and construction: Ammonium nitrate is a key ingredient in explosives used in mining and construction. As the demand for minerals and construction materials grows, the demand for explosives will also increase, driving the growth of the ammonium nitrate market.
Rising demand for ammonium nitrate in the defense sector: Ammonium nitrate is used in the production of explosives used by the military and defense industry. The increasing need for national security and defense is expected to drive the demand for ammonium nitrate in this sector.
Growing demand for biofuels: Ammonium nitrate is used as a nitrogen source in the production of biofuels. The increasing demand for biofuels as a renewable energy source is expected to drive the growth of the ammonium nitrate market.
Government initiatives and subsidies: Governments around the world are providing subsidies and incentives for the production and use of fertilizers, which is expected to boost the growth of the ammonium nitrate market. Additionally, regulatory initiatives to reduce greenhouse gas emissions are expected to drive the demand for biofuels, which will further boost the market growth.
REGIONAL INSIGHTS
The ammonium nitrate market is geographically segmented into several regions, including North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Here are some regional insights into the ammonium nitrate market:
Asia-Pacific: The Asia-Pacific region dominates the ammonium nitrate market, accounting for more than 40% of the global market share. The growth in this region is mainly driven by the increasing demand for fertilizers in countries such as China and India, as well as the growing mining and construction activities.
North America: The North American region is a significant market for ammonium nitrate, with the United States being the largest producer and consumer of the chemical. The demand for ammonium nitrate in this region is primarily driven by the agriculture sector and the mining industry.
Europe: Europe is a mature market for ammonium nitrate, with limited growth opportunities. However, the demand for ammonium nitrate in this region is primarily driven by the agricultural sector and the increasing use of ammonium nitrate in the defense industry.
South America: South America is a significant market for ammonium nitrate, with Brazil being the largest producer and consumer of the chemical in the region. The demand for ammonium nitrate in South America is primarily driven by the agricultural sector and the increasing use of explosives in the mining industry.
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Industry Development:
Ammonium nitrate is a chemical compound that is widely used as a fertilizer in the agricultural industry, as well as in the production of explosives for mining and other industrial purposes. The development of the ammonium nitrate industry has been shaped by various factors, including market demand, regulatory requirements, and technological advancements.
One of the main drivers of the ammonium nitrate industry is the growing demand for food due to the increasing global population. Ammonium nitrate is a key component in nitrogen-based fertilizers, which are essential for crop growth and yield. As a result, the agricultural industry is one of the largest consumers of ammonium nitrate, and its demand is expected to continue to grow in the coming years.
Another factor that has influenced the development of the ammonium nitrate industry is regulatory requirements. The production, transportation, and storage of ammonium nitrate are subject to strict safety regulations due to its explosive nature. The industry has had to adapt to these regulations by implementing safety measures such as specialized storage facilities, transportation protocols, and safety training for workers.
Technological advancements have also played a role in the development of the ammonium nitrate industry. New processes have been developed to increase efficiency and reduce costs in the production of ammonium nitrate, such as the use of catalysts and the implementation of energy-saving technologies. In addition, new applications for ammonium nitrate have been developed, such as its use as a source of nitrogen for the production of biodegradable plastics.
COMPETITIVE LANDSCAPE
Facility Expansion by Major Companies to Expand Their Product Portfolio
The global market for ammonium nitrate is fragmented by the presence of major companies striving to maintain a stronghold by expanding their facilities to cater to the growing demand from industrial applications such as agriculture, mining, and others. In addition to this, the adoption of strategies such as merger and acquisition, collaboration, and partnership by other key players is anticipated to favor the growth of the market.
Frequently Asked Questions (FAQs):
Who is the largest producer of ammonium nitrate?
Answer: Russian Federation is the top country by ammonium nitrate production in the world.
What companies make ammonium nitrate?
Answer: Some of the key players in the global Ammonium Nitrate includes Incitec Pivot Ltd., Neochim Ad, EuroChem Group AG, OSTCHEM Holding Company, Fertiberia SA, Borealis AG, San Corporation
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