The global ammonium nitrate market is expected to grow at a CAGR of 3.43% over the forecast period, reaching $22.5 billion by 2028.
Ammonium Nitrate Market: Overview
The chemical compound ammonium nitrate is a white crystalline solid that contains the ions ammonium and nitrate. It is highly water-soluble and has the ability to absorb or adsorb water from its surroundings; however, the molecule does not hydrate. Because ammonium nitrate is a highly flammable substance, manufacturers and governments have issued several warnings and precautions on safety data sheets.
The global ammonium nitrate market is one of the most widely followed markets due to the extremely hazardous use of the compound under improper supervision, as well as a few small and large-scale mishaps in the past.
Ammonium Nitrate Market Segmentation
The global ammonium market is divided into three sections: application, end-user, and region.
The global market is divided into three sections based on application: explosives, fertilisers, and others. Because of the high availability of nitrate in the chemical compound, which is widely utilised by crops during their growth phase, the market is expected to be controlled by its application in fertiliser manufacturing.
Global market segments include mining, defence, agriculture, and other end-user industries, with agriculture expected to lead the pack. Ammonium nitrate accounted for 74% of the global market share in 2020 and is expected to remain so in future years due to its widespread use in agriculture.
Ammonium Nitrate Market: Competitive Landscape
The key players in the global ammonium nitrate market are Abu Qir Fertilizers Co., Fertiberia SA, Enaex S.A, Austin Powder International, Borealis, OSTCHEM Holding Company, CF Industries Holdings, Orica Ltd., Yara International, Inc., EuroChem Group AG, CSBP Limited, San Corporation, URALCHEM Holding P.L.C., Neochim Ad, DFPCL, and Incitec Pivot Limited
Global Ammonium Nitrate Market is segmented as below:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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