Ammonium Nitrate Market Size & Analysis - Forecasts To 2025 By Application (Fertilizers, Explosives), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), End-Use Landscape, Vendor Landscape and Market Share & Competitive Landscape - Global Market Estimates
Ammonium Nitrate Market Insights
The global ammonium nitrate market is expected to grow at a significant CAGR over the forecast period on account of its rising adoption as an excellent fertilizer coupled with rising application as an oxidizing agent in explosive manufacturing. The growing demand for industrial explosives and blasting agents is projected to boost the overall market growth in the next eight years.
Moreover, factors such as availability of raw materials including nitric acid and sodium carbonate are expected to augment the market growth over the coming years. Along with this, the growing application of fertilizers for high-quality crop is also likely to stimulate the market for ammonium nitrate.
However, stringent regulations associated with application of fertilizers and limited usage of ammonium nitrate in explosives is projected to affect the profitability of market.
Ammonium Nitrate Market: Application Insights
The global ammonium nitrate market is segmented into fertilizers and explosives, based on application. The fertilizer segment is anticipated to dominate the market over the forecast period owing to the potential benefits of ammonium nitrate as compared to its substitute such as urea. Moreover, increasing usage of fertilizers to increase crop yield of various food grains such as barley, maize, wheat and rice among others is projected to augment the market growth.
The explosives segment is projected to grow significantly over the years on account of growing usage of explosives in quarry and mine operations. Along with this, rising demand for metals such as manganese, bauxite and diamond among others is projected to fuel market growth.
Ammonium Nitrate Market: Regional Insights
Europe accounted for largest share of the global market in 2016 due to high usage of fertilizers for increasing crop yield.
Asia Pacific is also expected to emerge as a key revenue generating region. This can be associated with growing domestic consumption coupled with increasing mining activities in this region. Demand is expected to rise from countries such as China, India, Thailand and Malaysia.
Ammonium Nitrate Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Ammonium Nitrate Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase ammonium nitrate over the coming years. Some leading consumers of this market are CF Industries, BASF, Israel Chemicals, Laflin & Rand Powder Company, and Oriental Powder Company.
Ammonium Nitrate Market Share & Competitor Analysis
The global market for ammonium nitrate is expected to be significantly large due to the presence of numerous manufacturers. The key players include Orica (Australia), Incitec Pivot Limited (Australia), Neochim PLC (Bulgaria), URALCHEM Holding P.L.C (Turkey), San Nutrition (The U.S.), CF Industries Holdings, Inc. (The U.S.), EuroChem Group AG (Switzerland), Austin Powder Company (The U.S.) and OSTCHEM Holding (Europe).
Please note: This is not an exhaustive list of companies profiled in the report.
In November 2017, Yara International ASA, a global producer and distributor of fertilizers, announced to acquire Vale SA’s VALE5.SA fertilizer complex in Cubatão, Brazil. Along with doubling the fertilizer production of Yara, the acquisition provides with the ability to produce nitrogen-based fertilizers such as ammonium nitrate.
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The global Ammonium Nitrate Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Ammonium Nitrate Market .
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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