Global Ammonium Nitrate Market Size to Grow USD 42.71 Billion by 2030 | CAGR 8.5%.Category: Advanced Materials
Global Ammonium Nitrate Market worth $42.71 billion by 2030
According to a research report published by Spherical Insights & Consulting, the Global Ammonium Nitrate Market Size to grow from USD 20.5 billion in 2021 to USD 42.71 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period.
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One of the key drivers of Ammonium Nitrate market expansion is due to a popular fertiliser has high nitrogen content is ammonium nitrate. The use of high-quality fertilisers has been consistently urged in order to meet the growing demand for food due to the rising pressure to produce enough food, as well as growing worries about the global shortage of arable land and the rapid population expansion.
Browse 48 market data Tables and 58 Figures spread through 279 Pages and in-depth TOC on "Global Ammonium Nitrate Market Size, Share, and COVID-19 Impact Analysis by Product (High density, Low density and Solution), By End-users (Agriculture, Mining & quarrying, Civil construction and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030." View a detailed Table of Content here– https://www.sphericalinsights.com/reports/ammonium-nitrate-market
The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes.
The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The High-density segment to account for the largest market size during the forecast period
Based on the Product, the global Ammonium Nitrate Market is categorized into High density, Low density and Solution. The High-density segment to account for the largest market size during the forecast period. The High-density market category now has the largest market share and is anticipated to expand at a high CAGR over the anticipated years because due to its extremely thick, impermeable, and pure condition prills.
Over the next years, the global ammonium nitrate market value will increase due to the quickly expanding demand for HDAN in agricultural applications due to rising crop yields, improved soil fertility, reduced development of vegetative mass, and rising gluten & protein content in grains.
The Agriculture segment to hold a higher CAGR during the forecast period.
Based on the End-users, the Ammonium Nitrate Market is categorized into Agriculture, Mining & quarrying, Civil construction and Others. The Agriculture segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Agriculture segment is anticipated to maintain its leading position because the ammonium nitrate market as a result of the product's expanding use as fertiliser.
In order to increase yield, fertility, and plant development, fertilisers are often given to plants or soils. In the next years, the ammonium nitrate market will progressively expand due to factors such as the need to increase crop production rates to meet the rising global food demand as well as government efforts and programmes to raise farmer knowledge about the usage of fertilisers.
North America to hold a higher CAGR during the forecast period.
The Global Ammonium Nitrate Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Europe is estimated to account for the highest market share in 2022. The demand for Ammonium Nitrate is being driven by the rising acceptance by the market. Countries with developed agriculture industries include Germany, the UK, France, and Italy. Grassland and agriculture make up 49% of Europe's total land area, according to the European Environment Agency.
The demand for ammonium nitrate will increase as a result of government initiatives and programmes to increase fertiliser use in the agricultural sector. For instance, the EU Nitrogen External Panel (EUNEP) offers indicators for Nitrogen Use Efficiency (NUE) so that different methods for increasing agricultural output and lowering environmental effect may be used.
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Global Ammonium Nitrate Market - Key Market Players
Major vendors in the Global Ammonium Nitrate Market include EuroChem, Uralchem, OSTCHEM Holding, Borealis, Acron, Yara, SBU Azot, Incitec Pivot, Zaklady, Orica, CF Industries,CSBP, Enaex, and KuibyshevAzot.
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Frequently Asked Questions (FAQ)
What is the market size of the Ammonium Nitrate market?As per Spherical Insights, the size of the Ammonium Nitrate market was valued at USD 20.5 billion in 2022 to USD 42.71 billion by 2030.
What is the market growth rate of the Ammonium Nitrate market?The Ammonium Nitrate market is growing at a CAGR of 8.5% from 2022 to 2030.
Which country dominates the Ammonium Nitrate market?Europe emerged as the largest market for Ammonium Nitrate.
Who are the key players in the Ammonium Nitrate market?Key players in the Ammonium Nitrate market are EuroChem, Uralchem, OSTCHEM Holding, Borealis, Acron, Yara, SBU Azot, Incitec Pivot, Zaklady, Orica, CF Industries, CSBP, Enaex, and KuibyshevAzot.
Which factor drives the growth of the Ammonium Nitrate market?Increasing global demand for fertilizers is expected to drive the market's growth over the forecast period.
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