Market Overview:
Ammonium Nitrate, a salt of ammonia and nitric acid is a colorless and nearly odorless chemical compound. It is commercially available in a crystalline solid form and can be processed into prills for specific applications. It is soluble in water. It is generally used to make explosives, fertilizers, and as nutrient while producing antibiotics and yeast. Ammonium Nitrate is hygroscopic in nature and readily absorbs moisture from the air, so it is generally stored in an air-conditioned warehouse or in sealed bags. It is a prominent fertilizer as the nitrate form present in the compound moves readily with soil water to the roots, where it is immediately available for the plant uptake. Moreover, it is utilized in food preservation as it can make an instant cold pack.
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.
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Market Segmentation:
The global Ammonium Nitrate Market is categorized on the basis of Application, End User, and Region:
On The Basis Of Application-
• Explosives,
• Fertilizers.
On The Basis Of End User:
• Construction,
• Mining,
• Quarry,
• Agriculture
On The Basis Of Region:
• Asia Pacific, Europe,
• Latin America,
• North America,
• Middle East & Africa.
Major Key Players:
The Top Key Players operating in the Ammonium Nitrate Market are:
• Enaex (Chile),
• EuroChem Group AG (Switzerland),
• CF Industries Holdings, Inc.(U.S.),
• Incitec Pivot limited (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 Limited (Australia),
• Vijay Gas Industry P Ltd (India),
• Fertiberia SA (Spain)
Regional Analysis:
Geographically, Ammonium Nitrate Market is spanned across Five Regions in the world namely:
• Asia Pacific,
• North America,
• Europe,
• Latin America,
• Middle East & Africa.
Europe is expected to be the largest market for ammonium nitrate followed by Asia Pacific and North America on account of increasing demand from numerous end-use industries such as construction, agriculture, and quarry among others. Asia Pacific ammonium nitrate market is predicted to witness a steady growth on account of the continuous growth of various end-use applications. In Asia Pacific, some other factors which contribute to the regional market growth are rising economic growth rate, competitive production costs, and ease of availability of raw material. North America is predicted to witness a substantial growth over the estimated period due to growing demand from the explosive application. Emerging countries of Latin America and the Middle East and Africa is estimated to witness a healthy growth due to rising mining activities.
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