Global Ammonium Nitrate Market to hit $23.2 Bn by 2025
The market research report “Ammonium Nitrate Market Size By Product (High Density, Low Density, Solution), By End-user (Agriculture, Mining & Quarrying, Civil Construction), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, Saudi Arabia, UAE, Qatar, South Africa), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” by Global Market Insights, Inc. says Ammonium Nitrate Market driven by Increasing fertilizer demand in the world to surpass USD 23 billion by 2025 and will witness 4% CAGR during the forecast timespan.
The ever-growing population has created a demand-supply imbalance in case of food globally. Global population growth is likely to exceed 8 billion by 2030, which will result in the increased demand for food which in turn will increase the use of ammonium nitrate-based fertilizers. These fertilizers improve the growth, safety & quality of the crops and improves the yield. The fertilizer demand is high in Latin American and the APAC countries owing to the expansion of the agricultural lands in the regions. This in turn, will drive the ammonium nitrate market growth in the coming years.
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Low-density ammonium nitrate, commonly known as LDAN is used as a cost-efficient, high-quality and effective mining explosive & blasting agent, especially with ANFO (Ammonium Nitrate/ Fuel Oil) or in emulsion-type explosives. Low-density ammonium nitrate is used as anti-caking coatings and porosity control agents. Known for the homogeneous & fast absorption of oil, free flowing properties, excellent sensitivity to shock waves, excellent stability, flexibility of usage and longevity, LDAN market is likely to grow at a CAGR of above 4% during the forecast timeframe.
Ammonium nitrate solutions are cost-effective, consistent in quality and have a convenient range of temperature for long distance transportation. This product type facilitates in strict process control which results in the superior purity control and pH. It is widely used as a raw material for fertilizers and emulsion-matrix production. This product segment is likely to grow at a CAGR of around 4.5% in the coming years.
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Mining & quarrying is an important end-user segment in the ammonium nitrate market, growing at a CAGR exceeding 1.7% from 2019 to 2025. China and US are the main drivers of the mining industry. China is becoming one of the largest mining countries especially for the rare-earth commodities. Whereas the US is important whenever mining is related to oil & gas extraction and mining activities support. Ammonium nitrate is employed in the manufacturing of the explosives used in the mining and quarrying activities. Increasing exploration activities in oil & gas sector & production in the U.S. post shell oil reserves discovery coupled with the matured oil & gas industry in the Middle-East and rising mining & quarrying activities in Asia Pacific region, especially in China & India will spur the demand for ammonium nitrate for explosives production in the coming years
Asia Pacific is also a key ammonium nitrate market globally which will grow by a CAGR of more than 3.1% from 2019 to 2025. Growing agriculture industry owing to the development of agriculture-based countries coupled with increasing demand for mining explosives in India & China and escalating construction activities in the region will propel the market growth of ammonium nitrate in the region.
Browse key industry insights spread across 250 pages with 294 market data tables & 28 figures & charts from the report, “Ammonium Nitrate Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/ammonium-nitrate-market
Key companies in the global ammonium nitrate market includes EuroChem, Yara International, Uralchem, Borealis, Ostchem, CF, Fertiberia and others. Backward integration is a major strategy used by the majority of the companies in the market to strengthen their positions along with increase their profit margins.
Ammonium Nitrate market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD thousand from 2013 to 2025, for the following segments:
Ammonium Nitrate Market Application by End-use
High Density
Agriculture
Mining & quarrying
Civil construction
Others
Low Density
Agriculture
Mining & quarrying
Civil construction
Others
Solution
Agriculture
Mining & quarrying
Civil construction
Others
Ammonium Nitrate Market by End-use
Agriculture
Mining & quarrying
Civil construction
Others
The above information is provided on a regional and country basis for the following:
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Asia Pacific
China
India
Japan
Australia
Indonesia
Malaysia
South Korea
Latin America
Brazil
Mexico
MEA
South Africa
Saudi Arabia
UAE
Qatar
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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