Ammonium Nitrate Market: Global Industry Analysis and Forecast (2023-2029)

Ammonium Nitrate Market was valued at US$ 15.74 Bn. in 2022 and it is expected to reach US$ 29.22 Bn. by 2029, at CAGR of 9.24% throughout the forecast period.
Ammonium Nitrate Market Overview:
An ammonium nitrate is a white, water-soluble, crystalline substance. It has the potential to form an explosive mixture on the addition of ingredients. Ammonium Nitrate is a chemical ingredient of agricultural fertilisers and used as an ingredient for the production of anaesthetic gases and cold packs. It is also a key ingredient in the manufacture of commercial explosives, which are used in mining and construction. The Global Ammonium Nitrate demand for its applications in fertilizer is expected to grow at a rate of 10.40%. Ammonium nitrate production capacity is expected to grow in Asia Pacific because of its wide usage in agriculture industry.

The report has covered the market trends from 2018 to forecast the market through 2029. 2022 is considered a base year however 2022’s numbers are on the real output of the companies in the market.To know about the Research Methodology :- Request Free Sample Report
Ammonium Nitrate Market Dynamics:
Ammonium Nitrate plays a major role in Agriculture industry

An increase in demand for agricultural products are expected to drive the production of ammonium nitrate. According to the Food & Agriculture Organization, growth in population and rapid urbanization levels are increasing the demand for food products. The demand for agricultural products positively impacts the demand for fertilizers. The demand for ammonium nitrate is increasing to enhance the agricultural products demand to meet the rising food requirement. Population growth has a positive effect on agricultural production. However, strict government regulation regarding with the storage and transportation, health impact and environment concern are expected to limit the market growth.

Some of the regulations for the production of Ammonium Nitrate:

Currently, the Government has amended the rules for Ammonium Nitrate to curb its pilferage. A regulation regarding the ammonium nitrate require that ammonium nitrate received at ports be transferred to storage houses 500 metres beyond the port area. It will reduce the handling of loose chemicals at port and help to enhance safety.

Global: It is classified as an oxidising content under the United Nations classification of dangerous goods. In North America, it is categorizing the types of dangerous goods under nine classes like Explosive Materials, Inflammable liquids, easily oxidising contents etc.

India: In India, the production, conversion, bagging, import, export, transport, possession for sale or use of ammonium nitrate is covered under The Ammonium Nitrate Rules, 2012.

1. Storage of ammonium nitrate in large quantities in populated areas is illegal in India.

2. A license under the Ammonium Nitrate Rules, 2012 is strictly required for any activity related to ammonium nitrate.
Ammonium Nitrate Market Segment Analysis:
Based on the Application, ammonium nitrate market is segmented into fertilizer, explosives and others. In the agricultural industry, fertilizers are used to boost the plant growth. It contains essential nutrients for plants, which deliver healthy growth to crops. Ammonium nitrate is one such fertilizer, which is used for providing adequate levels of nitrogen to plants. Fertilizer segment is expected to contribute more than 60% share in the Indian market because of its usages by farmers to increase the food production. The agricultural food demand across the globe, the requirement for solid ammonium nitrate for fertilisers is expected to increase the production of ammonium nitrate during the forecast period.
Ammonium Nitrate Market Regional Insights:
The report covers the detail analysis of each region and production of Ammonium Nitrate by each county within the five regions.

India: India has a large consumer base for ammonium nitrate because of the large-scale production of ammonium nitrate for agriculture industry. The demand for ammonium nitrate is expected to continue in the near future as a result of rapid expansion of the agriculture sector and other end user industries across the country, Currently, the government is forming new rules for five major areas, such as static and mobile pressure vehicles, calcium carbide, ammonium nitrate, gas cylinders, and petroleum and explosives to enhance the safety at the time of transportation of these products. The government has eased ammonium nitrate rules in order to improve their safety measures in storage and transportation. Key players are forming robust footprints in the global ammonium nitrate market by investment in the agriculture sector.

Domestic manufacturers such as Rastriya Chemicals and Fertilizers, Gujarat State Fertilizer and Chemicals and Deepak Fertilizers have an installed large capacity of ammonium nitrate through their association. They had made investments in IT infrastructure and tracking devices to comply with government’s guidelines. Currently, in 2021, Deepak fertilisers has launched the production plant of ammonium nitrate by investing 2200-crore. The project will have an annual capacity of 377 kiloton and is expected to schedule for production by 2024.

The objective of the report is to present a comprehensive analysis of the global Ammonium Nitrate Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Ammonium Nitrate Market dynamic, structure by analyzing the market segments and projecting the Ammonium Nitrate Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Ammonium Nitrate Market make the report investor’s guide.
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Ammonium Nitrate Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 15.74 Bn.


Forecast Period 2023 to 2029 CAGR:
9.24%
Market Size in 2029:
US $ 29.22 Bn.


 Segments Covered:
by Product
1. Fertilizer
2. Explosives
3. Others


by End User Industry
1. Agriculture
2. Mining
3. Defence
4. Others



Ammonium Nitrate Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Ammonium Nitrate Market Key Players
1. Orica
2. Enaex S.A
3. CF Industries Holdings Inc.
4. San Corporation
5. OSTCHEM Holding Company
6. EuroChem Group AG
7. Austin Powder International
8. Abu Qir Fertilizers Co
9. Neochim PLC
10. Fertiberia SA
11. Uralchem JSC
12. Vale Fertilizantes
13. Dorogobuzh JSC
14. Yara International
15. Incitec Pivot Limited Inc.
16. Borealis
17. Fertiberia SA
18. DFPCL
19. CSBP Limited
20. Uralchem

Frequently Asked Questions:

1. Which region has the largest share in Global Ammonium Nitrate Market?
Ans: India region held the highest share in 2022.

2. What is the growth rate of Global Ammonium Nitrate Market?
Ans: The Global Ammonium Nitrate Market is growing at a CAGR of 9.24% during forecasting period 2023-2029.

3. What is scope of the Global Ammonium Nitrate market report?
Ans: Global Ammonium Nitrate Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Ammonium Nitrate market?
Ans: The important key players in the Global Ammonium Nitrate Market are – Orica, Enaex S.A, CF Industries Holdings Inc., San Corporation, OSTCHEM Holding Company, EuroChem Group AG, Austin Powder International, Abu Qir Fertilizers Co, Neochim PLC, Fertiberia SA, Uralchem JSC, Vale Fertilizantes, Dorogobuzh JSC, Yara International, Incitec Pivot Limited Inc., Borealis, Fertiberia SA, DFPCL, CSBP Limited, and Uralchem

5. What is the study period of this market?
Ans: The Global Ammonium Nitrate Market is studied from 2022 to 2029.