The global ammonium nitrate market is expected to showcase significant growth during the forecast period. Ammonium nitrate is a colorless, white or odorless, crystal salt which is produced by neutralizing nitric acid (HNO3) with ammonia (NH3). It is an essential component of several fertilizer mixtures and delivers a source of nitrogen to plants, which enhances crop yields and growth. It is readily available to crops than urea. Apart from agriculture, a small amount of ammonium nitrate is used as an additive for mining explosives and other non-agriculture applications owing to its powerful oxidizing properties. The major factors boosting the growth of the market include growth in construction and mining operations and a significant rise in agricultural production.
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Mining is expected to be one of the major segments for the ammonium nitrate market. It is replacing dynamite in blasting of rock for mines and road cuts. It is due to the simple process to manufacture the explosive by ammonium nitrate. To manufacture explosives, ammonium nitrate is mixed with oil or any petroleum-based products and is ignited by a small amount of dynamite or a large blasting cap. A chemical explosive needs fuel and an oxidizer and ammonium nitrate have both of them. Ammonium nitrate as an explosive is also used by farmers in order to remove the trees and other objects from the field. It is expected that the ammonium nitrate will find a significant market as an explosive during the forecast period.
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Geographically, the global ammonium nitrate market is segmented on the basis of the region including North America, Europe, Asia-pacific and Rest of the World (RoW). North American region is expected to grow considerably in the future attributed to rising agricultural land in the US and growing demand for explosives and increasing military expenditure. In India and China region are expected to witness lucrative growth due to higher production for nitrogen fertilizers and increasing demand for agricultural products will surge the demand for ammonium nitrate which will drive the growth of the market. The key players in the global ammonium nitrate market are LSB Industries, Inc., OSTCHEM Holding, EuroChem Group AG, Vijay Gas Industry Pvt. Ltd., Orica, Ltd., CF Industries Holdings, Inc., OSTCHEM Holding, Neochim PLC, Austin Powder Co., and among others.
Global Ammonium Nitrate Market- Segmentation
By Industry
- Mining Industry
- Agriculture Industry
- Medical Industry
- Construction Industry
- Others Industry
By Application
- Fertilizers
- Explosives
- Others (Food Preservation)
Global Ammonium Nitrate Market- Regions
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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