USD 17.46 billion
Ammonium Nitrate Market Size, Share, Growth Analysis, By Product (High Density, Low Density), By Application (Fertilizers, Explosives, Others), By End-Use (Agriculture, Mining & quarrying,), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2540 |
Region:
Global |
Published Date: December, 2024
Pages:
165
|Tables:
62
|Figures:
75
Ammonium Nitrate Market Insights
Global Ammonium Nitrate Market size was valued at USD 17.46 billion in 2022 and is poised to grow from USD 18.1 billion in 2023 to USD 28.87 billion by 2031, growing at a CAGR of 5.55% in the forecast period (2024-2031).
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 - 2024-2031
Global Market Size
Largest Segment
High Density
Fastest Growth
High Density
Growth Rate
5.55% CAGR
Global Ammonium Nitrate Market 2021-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
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Ammonium Nitrate Market Segmental Analysis
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.
Ammonium Nitrate Market Analysis by Product
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.
Ammonium Nitrate Market Analysis by Application
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.
Global Ammonium Nitrate Market by Product, 2021 (%)
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Ammonium Nitrate Market Regional Insights
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.
Global Ammonium Nitrate Market By Geography, 2021 - 2028
- Largest
- Fastest
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Ammonium Nitrate Market Dynamics
Ammonium Nitrate Market Driver
- 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.
- The global population has increased dramatically, with low- and middle-income nations leading the scene. The population is increasing in lock step with the agricultural output. The global ammonium nitrate demand in these areas has been significantly rising as a result of the usage of ammonium nitrate in fertilizers to boost the production of different farming goods and crops.
Ammonium Nitrate Market Restraint
- Additionally listed as a fairly harmful chemical is ammonium nitrate. Due to these reasons, the ammonium nitrate market is being challenged by the state's rigorous restrictions on the management, storing, shipping, and use of ammonium nitrate.
- A component of the well-known chemical explosive ANFO is ammonium nitrate. This explosive has been employed in improvised explosive devices in equivalent formulas. Many nations forbid its use in consumer devices because of the possibility of abuse. This is a factor that limits growth.
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Ammonium Nitrate Market Competitive Landscape
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.
Top Players in the Ammonium Nitrate Market
- 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
Ammonium Nitrate Market Recent Development
- In January 2022, A plant for the production of technological ammonium nitrate (Project) with a volume of around 2,20,000 metric tonnes (MT) annually and an expected project cost of about Rs. 1170 crore has been approved by the Board of Chambal Fertilizers & Chemicals. The project will also feature a facility to produce weak nitric acid at a rate of 1,80,000 MT annually.
Ammonium Nitrate Key Market Trends
- 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.
Ammonium Nitrate Market SkyQuest Analysis
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 2022 | USD 17.46 billion |
| Market size value in 2031 | USD 28.87 billion |
| Growth Rate | 5.55% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ammonium Nitrate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ammonium Nitrate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
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.
Analyst Support
Customization Options
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.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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