[Latest] Global Ammonium Nitrate Market Size/Share Worth

Austin, TX, USA, March 18, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Ammonium Nitrate Market Size, Trends and Insights By Application (Fertilizers, Explosives), By End Use Industry (Agricultural, Defense, Mining & Quarrying, Construction, Others), By Sales Channel (Direct, In Direct), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of global Ammonium Nitrate Market size & share was valued at approximately USD 18.3 Billion in 2022 and is expected to reach USD 19.1 Billion in 2023 and is expected to reach a value of around USD 33.1 Billion by 2032, at a compound annual growth rate (CAGR) of about 5.75% during the forecast period 2023 to 2032.”

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Ammonium Nitrate Market: Overview

Ammonium Nitrate (NH4NO3) is produced by a chemical reaction of nitric acid and ammonia. Ammonium nitrate, a salt of ammonia and nitric acid, is used widely as fertilizers and explosive applications in agricultural, mining and quarrying end use industries.

The commercial grade of Ammonium Nitrate contains about 33.5%, all of which are in forms utilizable by plants; it is the most common nitrogenous component of artificial fertilizers.

The global Ammonium Nitrate market is driven by a variety of factors such as the rapidly expanding agricultural industry, growing demand for organic and synthetic fertilizers, and growing demand for ammonium nitrate as explosive in the mining and quarrying industry.

With the growing population across the globe, the demand for food is also increasing, which in turn propels the demand for Fertilizers. Ammonium nitrate is the most popular fertilizer since it provides half of the Nitrogen in the nitrate form and half in the ammonium form.

However, the market faces certain restraints, such as stringent regulations, less adaption in many underdeveloped economies, and lack of universal directives about the usage of ammonium nitrate are restraining the market growth.

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The rising mining and quarrying activities across the globe are expected to create lucrative opportunities for the market during the forecast period. With the increasing demand for minerals, metals and high end mining products the mining activities are also increasing in China, India, Australia, Indonesia, the U.S. and South Africa, which in turn boosts the demand for ammonium nitrate, thereby driving the market growth.

The global Ammonium Nitrate market is segmented by application, by end use industry, by sales channels and by region. By Application, the fertilizer segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period.

Growing demand for food due to the increasing population is boosting the agriculture cultivation area, which in turn drives the demand for Fertilizer, thereby driving market growth of this segment. The explosive segment is expected to grow at significant growth rates during the forecast period.

Increasing demand for explosives from the mining, quarrying and defence industry is expected to boost the market growth of this segment during the forecast period.

By end user industry, the Agricultural end user industry held the highest market share in 2022 and is expected to keep its dominance during the forecast period. The rapidly expanding agricultural sector in Emerging economies is mainly boosting the demand for fertilizer, thereby increasing consumption of ammonium nitrate.

By region, the Ammonium Nitrate market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa. The Asia Pacific dominated the global Ammonium Nitrate market in 2022 with a market share of 43.00% and is expected to keep its dominance during the forecast period. Major countries China, India, Japan, South Korea, and Indonesia are driving the market growth in this region.

North America held second second-largest market share in 2022 and is expected to keep its position during the forecast period. The U.S. and Canada are major key contributors to the market growth of this region.

Report Scope

Feature of the Report	Details
Market Size in 2023	USD 19.1 Billion
Projected Market Size in 2032	USD 33.1 Billion
Market Size in 2022	USD 18.3 Billion
CAGR Growth Rate	5.75% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Application, End Use Industry, Sales Channel and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

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Custom Market Insights has comprehensively analyzed Ammonium Nitrate market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenarios of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Ammonium Nitrate industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players ate studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, the Report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships, and emerging business models.

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Key questions answered in this report:

What is the size of the Ammonium Nitrate market and what is its expected growth rate?
What are the primary driving factors that push the Ammonium Nitrate market forward?
What are the Ammonium Nitrate Industry's top companies?
What are the different categories that the Ammonium Nitrate Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Ammonium Nitrate market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Ammonium Nitrate Market: Regional Analysis

By region, Ammonium Nitrate market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa. The Asia Pacific dominated the global Ammonium Nitrate market in 2022 with a market share of 43.00% and is expected to keep its dominance during the forecast period.

The rapidly expanding agricultural sector in China, India, Indonesia, Japan, South Korea and Australia is expected to propel the market growth in this region. Furthermore, the Asia Pacific region is home to some of the world’s largest mining operations, particularly in countries like China, Australia, India, and Indonesia.

These nations have vast reserves of minerals and metals, leading to extensive mining activities that necessitate significant ammonium nitrate usage for mining explosives.

North America held the second largest market share in 2022 and is expected to keep its position during the forecast period. The presence of well-developed Agricultural, Mining and Defense end use industries in the U.S. and Canada is expected to propel the market growth of Ammonium Nitrate during the forecast period.

Europe held the third largest market share in 2022 and is expected to grow at significant growth rates during the forecast period. Countries such as Germany, France, the U.K., Spain, Netherlands are major contributors to the market growth in this region.

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List of the prominent players in the Ammonium Nitrate Market:

Yara International ASA
Orica Ltd
Sigdo Koppers Group
CF Industries Holdings Inc.
Incitec Pivot Ltd
Neochim Ad
Enaex
EuroChem Group AG
OSTCHEM Holding Company
Fertiberia SA
Borealis AG
San Corporation
Abu Qir Fertilizers Co
Deepak Fertilisers and Petrochemicals
CSBP Limited
Uralchem
Other

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The Ammonium Nitrate Market is segmented as follows:

By Application

Fertilizers
Explosives

By End Use Industry

Agricultural
Defense
Mining & Quarrying
Construction
Others

By Sales Channel

Direct
In Direct

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Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Ammonium Nitrate Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Ammonium Nitrate Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Ammonium Nitrate Market? What Was the Capacity, Production Value, Cost and PROFIT of the Ammonium Nitrate Market?
What Is the Current Market Status of the Ammonium Nitrate Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Ammonium Nitrate Market by Considering Applications and Types?
What Are Projections of the Global Ammonium Nitrate Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Ammonium Nitrate Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Ammonium Nitrate Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Ammonium Nitrate Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Ammonium Nitrate Industry?

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Reasons to Purchase Ammonium Nitrate Market Report

Ammonium Nitrate Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Ammonium Nitrate Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Ammonium Nitrate Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Ammonium Nitrate Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Ammonium Nitrate market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Ammonium Nitrate market analysis.

The competitive environment of current and potential participants in the Ammonium Nitrate market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Ammonium Nitrate market should find this report useful. The research will be useful to all market participants in the Ammonium Nitrate industry.
Managers in the Ammonium Nitrate sector are interested in publishing up-to-date and projected data about the worldwide Ammonium Nitrate market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Ammonium Nitrate products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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