Global Ammonium Nitrate Market Insights Forecasts to 2030
- The global Ammonium Nitrate Market was valued at USD 20.5 Billion in 2021.
- The Market is growing at a CAGR of 8.5% from 2022 to 2030
- The global Ammonium Nitrate Market is expected to reach USD 42.71 Billion by 2030
- North America is expected to grow the fastest during the forecast period.
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The Global Ammonium Nitrate Market is expected to reach USD 42.71Billion by 2030, at a CAGR of 8.5% during the forecast period 2022 to 2030. 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.
A chemical substance called ammonium nitrate uses nitrogen as a source to produce artificial fertilisers on a big scale. It is created in the form of tiny, porous pellets called "prills." It is also one of the most frequently utilised chemical ingredients in fertiliser production. A mixture of ammonium and fuel oil is made into an explosive charge and detonated in explosives and demolition operations, where ammonium nitrate is also a key ingredient.
A crystal salt known as ammonium nitrate has no smell and is practically colourless. Farmers may increase plant growth and output levels in agricultural fields by using ammonium nitrate, creating a plentiful supply. Ammonia gas and nitric acid are mixed to create fertiliser, and the next chemical reaction results in a concentrated form of ammonium nitrate. In middle- and low-income nations, where population growth has been increasing but at a slower rate than before, agricultural output growth has been on the rise.
The demand for fertiliser is positively impacted by population expansion, which also boosts agricultural output. Fertilizers operate as a catalyst in this effort since rising agricultural demand needs improved productivity, which can only be satisfied through better-yielding techniques. The worldwide ammonium nitrate business is consequently seeing an increase in demand for ammonium nitrate, one of the primary substances used in the creation of fertiliser.
The global increase in demand for convenience foods has been a significant driver of the ammonium nitrate industry expansion. Ammonium nitrate works as a food preservation agent, helping to keep food fresh and flavourful while also preventing interior deterioration and infection. Ammonium nitrate, when mixed with water, also makes a great cold pack. The temperature within the container drops by 2 to 3 degrees’ Celsius right away.
Over the years, the agricultural industry has seen significant transformation as farmers worldwide concentrate on increasing crop output. Additionally, the total amount of arable land in the globe being limited will greatly increase the use of fertilisers, which will ultimately increase the ammonium nitrate market share throughout the anticipated timeframe. Furthermore, the revenue generation may be constrained by safety precautions, health effects, and environmental issues. Inhaling concentrated ammonium nitrate, for instance, may irritate the respiratory tract.
Additionally, the recent COVID-19 epidemic had a negative effect on the scale of the business due to production stops, workforce difficulties, and supply chain disruptions. However, the market for ammonium nitrate will expand due to the increased demand from the mining and agriculture industries.
Global Ammonium Nitrate Market Report Coverage
|Market Size in 2021:||USD 20.5 Billion|
|Forecast Period 2022-2030 CAGR:||8.5 %|
|2030 Value Projection:||USD 42.71 Billion|
|Historical Data for:||2019-2020|
|No. of Pages:||279|
|Tables, Charts & Figures:||106|
|Segments covered:||By Product, By End User, By Region|
|Companies Covered:||EuroChem Uralchem OSTCHEM Holding Borealis Acron Yara SBU Azot Incitec Pivot Zaklady Orica CF Industries CSBP Enaex KuibyshevAzot|
|Growth Drivers:||Growth in agricultural production is a result of a growing population.|
|Pitfalls & Challenges:||The delicate nature of the substance could prevent its development.|
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This research report categorizes the Market for global Ammonium Nitrate based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Ammonium Nitrate Market. Recent Market developments and competitive strategies such as expansion, Product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the Market. The report strategically identifies and profiles the key Market players and analyses their core competencies in each global Ammonium Nitrate Market sub-segments.
- Growth in agricultural production is a result of a growing population.
- increasing global demand for convenience foods
- The expansion in defence spending is driving market expansion.
- High Cost and Low Awareness of Benefits
- Effect of COVID-19 on the global market for ammonium nitrate
- The delicate nature of the substance could prevent its development.
- High Growth Potential in APAC
- Emerging Applications Across Various Industries
- In 2021, the High density segment dominated the Market with the largest Market share of 43.7% and Market revenue of 8.95Billion.
Based on the Product, the global Ammonium Nitrate Market is categorized intoHigh density, Low density and Solution. In 2021, the High densitysegment dominated the Market with the largest Market share of 43.7% and Market revenue of 8.95Billion. The High densitymarket 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.
- In 2021, the Agriculturesegment accounted for the largest share of the Market, with 33.4% and a Market revenue of 6.84Billion.
Based on the End-users, the Ammonium Nitrate Market is categorized into Agriculture, Mining & quarrying, Civil construction and Others. In 2021, the Agriculturesegment accounted for the largest share of the Market, with 53.4% and a Market revenue of 6.84Billion. Throughout the forecast period, theAgriculturesegment 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.
Regional Segment Analysis of the Ammonium Nitrate Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Europe emerged as the largest Market for the global Ammonium Nitrate Market, with a Market share of around 35.2% and 18.44Billion of the Market revenue in 2021.
- Europe emerged as the largest Market for the global Ammonium Nitrate Market,with a Market share of around 35.2% and 18.44Billion of the Market revenue in 2021. 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.
- North America Market is expected to grow at the fastest CAGR between 2021 and 2030,due to the expanding demand from the quarry, mining, and construction industries, the worldwide ammonium nitrate market is anticipated to have a notable increase. Due to the significant demand from the military industries in developed nations like the U.S. and Canada, their presence is also a major factor in the market growth in the area.
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The report offers the appropriate analysis of the key organizations/companies involved within the global Ammonium Nitrate Market along with a comparative evaluation primarily based on their Product offering, business overviews, geographic presence, enterprise strategies, segment Market share, and SWOT analysis.
The report also provides an elaborative analysis focusing on the companies' current news and developments, including Product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market.
List of Key Market Players:
- OSTCHEM Holding
- SBU Azot
- Incitec Pivot
- CF Industries
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In July 2020, Sasol and Enaex S.A. made an announcement about their joint venture, which will begin operations in Southern Africa. Enaex Africa is the anticipated name of the new business. Enaex S.A. is anticipated to hold the majority of the company's shares and to control its management and operations.
- In July 2019, In order to supplement its new range of controlled-release fertilisers, Florikan formed a cooperation with EuroChem Group AG to purchase standard fertilisers and sell premium goods.
- In October 2014, By increasing their product offerings in the Latin American market with the acquisition of OFD Holdings, ara International expanded its worldwide reach.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Ammonium Nitrate Market based on the below-mentioned segments:
Global Ammonium Nitrate Market, By Product:
- High density
- Low density
Global Ammonium Nitrate Market, By End-users:
- Mining & quarrying
- Civil construction
Global Ammonium Nitrate Market, Regional Analysis:
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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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