Ammonium Nitrate Market:
As per our analysis, some of the important market factors and trends identified in the global ammonium nitrate market are, increasing construction activities, rising consumption in explosives, growing defense sector, and others. Furthermore, increasing population along with rising demand for good quality food in limited arable land compelled farmers to raise the crop production yields, which has resulted in increased demand for fertilizer, which in turn is expected to drive the demand for ammonium nitrate over the forecast period. In recent years, coal consumption has increased for energy production which has increased the mining activities across the globe. Growth in mining activities leads to the higher consumption of explosives, which in turn is estimated to propel the demand for ammonium nitrate over the estimated period. Moreover, increasing construction activities along with repairing infrastructure activities in developed and developing regions are predicted to drive the growth of the market in the upcoming years. However, stringent regulations imposed by government bodies as well as workplace effect on health is predicted to hinder the growth of the market.
Ammonium Nitrate is a chemical compound with chemical formula NH4NO3, commonly utilized in explosives and fertilizers. Moreover, a commercial grade of ammonium nitrate exhibits 33.5% nitrogen, all forms of which can be utilized by plants. In addition, it is widely utilized to change the explosion rate of different explosives for instance nitroglycerin in the form ammonia dynamites, or in ammonals as an oxidizing agent is considered as one of the main component of ANFO (ammonium nitrate fuel oil) an explosive which is widely utilized in many countries. Application of ammonium nitrate is widely utilized in end use industries such as construction, mining, quarry, agriculture, and others.
Regional Analysis: The global Ammonium Nitrate Market is spanned across five regions, Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, North America market is estimated to witness a moderate growth due to increased demand from mining, quarry, and construction sector. The U.S and Canada are among the major contributors in the regional market growth due to strong demand from the defense sector. Latin American countries such as Mexico, Brazil, Argentina, and Guatemala are expected to register average growth due to rising demand for ammonium nitrate-based fertilizer from agriculture.
Market Categorization: The global Ammonium Nitrate Market is categorized on the basis of application, end user, and region. On the basis of application, the market is categorized into explosives, fertilizers, and others. Among the application segment, the fertilizer sub-segment accounted for more than 56% market share in 2016 due to rising need for fertilizer to meet the growing demand for food. On the basis of the end user, the market is segmented into construction, mining, quarry, agriculture, and others. On the basis of the region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Top Global Players: Some of the prominent players operating in the global Ammonium Nitrate Market are, EuroChem Group AG (Switzerland), Enaex (Chile), Vijay Gas Industry Pvt. Ltd (India), CF Industries Holdings, Inc.(U.S.), Incitec Pivot Ltd. (Australia), Neochim Plc (Bulgaria), URALCHEM JSC (Russia), San Corporation (China), Austin Powder (U.S.), Abu Qir Fertilizers and Chemicals Company (Egypt), Yara International ASA (Norway), OSTCHEM (Austria), Orica Ltd. (Australia), and Fertiberia SA (Spain)
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