The ammonium nitrate market is expected to grow at a CAGR of 3.43% during the forecast period, reaching $22.5 billion by 2028.
Ammonium Nitrate Market: Overview
The ions ammonium and nitrate are present in the white, crystalline solid known as ammonium nitrate. Although the molecule does not hydrate, it is highly water-soluble and can absorb or adsorb water from its surroundings. Because ammonium nitrate is a highly flammable chemical, manufacturers and governments have included various warnings and precautions on safety data sheets.
Because of the extremely hazardous use of the compound under improper supervision, as well as a few small and large-scale mishaps in the past, the global ammonium nitrate market is one of the most widely followed markets.
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Ammonium Nitrate Market Segmentation
The global ammonium market is divided into three segments: application, end-user, and region.
The global market is divided into three application-based divisions: explosives, fertilisers, and other products. Because of the high availability of nitrate in the chemical compound, which is widely used by crops during their growth period, its use in the production of fertilisers is expected to dominate the market.
Global market segments include mining, defence, agriculture, and other end-user industries, with agriculture expected to lead the pack. Ammonium nitrate held a 74% share of the global market in 2020 and is expected to do so in the coming years due to its widespread use in agriculture.
Ammonium Nitrate Market: Competitive Landscape
The key players in the global ammonium nitrate market are Abu Qir Fertilizers Co., Fertiberia SA, Enaex S.A, Austin Powder International, Borealis, OSTCHEM Holding Company, CF Industries Holdings, Orica Ltd., Yara International, Inc., EuroChem Group AG, CSBP Limited, San Corporation, URALCHEM Holding P.L.C., Neochim Ad, DFPCL, and Incitec Pivot Limited
Global Ammonium Nitrate Market is segmented as below:
By Application
Explosives
Fertilizers
Other
By End-User
Mining
Defense
Agriculture
Others
By region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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