Ammonium Nitrate Market
Report ID: SQMIG15E2540
Report ID: SQMIG15E2540
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Report ID:
SQMIG15E2540 |
Region:
Global |
Published Date: December, 2024
Pages:
165
|Tables:
62
|Figures:
75
Ammonium Nitrate Market size was valued at USD 19.1 Billion in 2024 and is poised to grow from USD 20.16 Billion in 2025 to USD 31.06 Billion by 2033, growing at a CAGR of 5.55% during the forecast period (2026–2033).
A white crystalline solid chemical substance made of ammonium and nitrate ions is known as ammonium nitrate. Due to its abundant source of nitrogen, it is frequently utilized as biofertilizer. Ammonium nitrate can aggressively break down at high temperatures, which makes it useful as an explosive in the mining sector. Additionally, this substance is widely employed in food storage procedures due to its great hygroscopic character. Fertilizers containing nitrogen are frequently used in farming to promote crop development.
The segment is predicted to develop due to the rising demand for the chemical as a source of nitrogen in fertilizers. Additionally, the substance is popular as an oxidant in the production of explosives, which is predicted to boost industrial expansion.
US Ammonium Nitrate Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2026-2033
Global Market Size
USD 18.1 Billion
Largest Segment
High Density
Fastest Growth
High Density
Growth Rate
5.55% CAGR
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Global Ammonium Nitrate Market is segmented by Product, by Application, by End Use and by Region. Based on Product, the market is segmented into High density, Low density, Solution. Based on Application, the market is segmented into Fertilizers, Explosives, Others. Based on End Use, the market is segmented into Agriculture, Mining & quarrying, Civil construction, Others Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
In 2021, due to its primary usage as an oxidant in the farming sector, high-density ammonium nitrate held the major market share. Due to its exceptionally compact, non-porous, and natural form prills, HDAN is a widely supported substance in the agriculture sector and will contribute to rapid expansion. Over the following period, the global ammonium nitrate market value will increase due to the quickly expanding requirement for HDAN in agricultural activities due to rising crop yields, improved soil fertility, reduced development of vegetative mass, and rising gluten & diet composition in cereals.
In 2021, owing to increasing company expenditures in the agriculture industry globally, the fertilizers category held the largest market share and is expected to continue dominating the ammonium nitrate market over the forecast period. Ammonium nitrate is a starting ingredient in fertilizer manufacture, which helps to increase agricultural productivity. The increasing population has forced farmers to boost agricultural yields, leading to a growing demand for fertilizers and fueling the sector's expansion.
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In 2021, Asia Pacific had the largest share of the global market, and it is projected that it will continue to keep that position during the projected timeline. The majority of the economies in the Asia Pacific area are farming, which is projected to increase the requirement for ammonium nitrate in the region's fertilizer industry. Higher nutritional demand is caused by the growing world population, particularly in China and India, and is then met by a concentration on modern agricultural techniques including hydroponic and rotating crops, as well as agro-forestry- forestry techniques. The ammonium nitrate market is estimated to be significantly influenced by this during the projected period.
The global ammonium nitrate market is expected to experience moderate expansion in North America over the coming years. Due to rising interest for explosives used in defense as well as the rising need for ammonium nitrate fuel, there is a huge market for ammonium nitrate. One of the factors driving this area's growth is an increase in farming activity brought on by the region's increased use of fertilizers over the projection period. Although Canada's fertilizer business has recently seen expansion, the US still serves as the region's main agricultural market.
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A large number of customers and producers make the market fairly challenging. Leading players constantly engage in Research and development projects, capacity expansion, and regional coverage through a variety of techniques to provide their clients with top-notch outcomes. The threat from new companies is likely to be reduced by the large initial investment in plants like dryers, screeners, and recycle-slurry mixers combined with narrow profitability, which will reduce industry competition over the projected period. For instance, Ammonium nitrate, according to Enaex, is a premium blasting agent that is made specifically for explosive mixes. Additionally, it has a high potential to absorb oil.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, in 2021, high-density nitrate held the major market share due to its primary usage as an oxidant in the farming sector. In 2021 the fertilizers category held the largest market share and is expected to continue dominating the market over the forecast period. In 2021, Asia Pacific had the largest share of the global market, and it is projected that it will continue to keep that position during the projected timeline.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 19.1 Billion |
| Market size value in 2033 | USD 31.06 Billion |
| Growth Rate | 5.55% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Ammonium Nitrate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ammonium Nitrate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ammonium Nitrate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ammonium Nitrate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
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Ammonium Nitrate Market size was valued at USD 19.1 Billion in 2024 and is poised to grow from USD 20.16 Billion in 2025 to USD 31.06 Billion by 2033, growing at a CAGR of 5.55% during the forecast period (2026–2033).
A large number of customers and producers make the market fairly challenging. Leading players constantly engage in Research and development projects, capacity expansion, and regional coverage through a variety of techniques to provide their clients with top-notch outcomes. The threat from new companies is likely to be reduced by the large initial investment in plants like dryers, screeners, and recycle-slurry mixers combined with narrow profitability, which will reduce industry competition over the projected period. For instance, Ammonium nitrate, according to Enaex, is a premium blasting agent that is made specifically for explosive mixes. Additionally, it has a high potential to absorb oil. 'Orica Ltd ', 'Enaex S.A ', 'CF Industries Holdings ', 'URALCHEM Holding P.L.C. ', 'Incitec Pivot Limited Inc ', 'DFPCL ', 'Neochim Ad ', 'San Corporation ', 'Austin Powder International ', 'EuroChem Group AG ', 'CSBP Limited ', 'OSTCHEM Holding Company ', 'Abu Qir Fertilizers Co '
The ammonium nitrate market has increased as a result of increasing defense spending globally. One essential component that serves as the basis for a number of explosives is ammonium nitrate. The global ammonium nitrate market has been exhibiting signs of growth across geographies, which is not surprising given that the demand for explosives and weapons is strongly correlated with a nation's military spending.
Fertilizers are being used in the agriculture sector to boost crop life. They supply crops with the necessary minerals for optimal growth and pest resistance. Fertilizers come in a variety of forms, including aqueous, dry crystals, and time-release. One such fertilizer is ammonium nitrate, which is used to provide plants with the right amount of nitrogen. Many vegetable cultivators use ammonium nitrate, an easily accessible nitrate source for plant nutrition. Ammonium nitrate is frequently combined with other fertilizers, however, because of their propensity to soak moisture in the air, these combinations cannot be kept for extended periods of time. Therefore, the demand for solid ammonium nitrate is predicted to develop quickly throughout the projected timeline given the fast-expanding agricultural activities and the environment.
In 2021, Asia Pacific had the largest share of the global market, and it is projected that it will continue to keep that position during the projected timeline. The majority of the economies in the Asia Pacific area are farming, which is projected to increase the requirement for ammonium nitrate in the region's fertilizer industry. Higher nutritional demand is caused by the growing world population, particularly in China and India, and is then met by a concentration on modern agricultural techniques including hydroponic and rotating crops, as well as agro-forestry- forestry techniques. The ammonium nitrate market is estimated to be significantly influenced by this during the projected period.
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