Ammonium Nitrate Market by Form (Granular, Powder), Application (Explosives, Fertilizers), End-User - Global Forecast 2024-2030

Ammonium Nitrate Market by Form (Granular, Powder), Application (Explosives, Fertilizers), End-User - Global Forecast 2024-2030

The Ammonium Nitrate Market size was estimated at USD 16.30 billion in 2023 and expected to reach USD 17.02 billion in 2024, at a CAGR 4.62% to reach USD 22.38 billion by 2030.

Ammonium nitrate, a salt of ammonia and nitric acid, having a chemical formula of (NH4NO3), is a white crystalline solid at room temperature. The high solubility in water and hygroscopic nature of ammonium nitrate easily absorbs moisture from the atmosphere. The high nitrogen content in ammonium nitrate, owing to the dual nitrogen sources, including ammonia (NH3) and nitric acid (HNO3), makes it useful to increase crop yield and fulfill the growing demand for food across the globe. Furthermore, ammonium nitrate poses risks in terms of safety owing to its potential for explosion when subjected to high temperatures or stored improperly. Ammonium nitrate may undergo chemical decomposition and release toxic gases, including ammonia and nitrogen oxides, which results in hazardous health and environmental effects. However, this explosive property of ammonium nitrate creates a high potential for the compound to be used in the rapidly growing mining & construction sector. In addition, the robust research and development (R&D) activities being carried out to reduce the hazardness of ammonium nitrate are creating a lucrative scope for the global ammonium nitrate market.

Regional Insights

Europe, the Middle East, and the African region's ammonium nitrate market are proliferating owing to the presence of major producers and exporters of ammonium nitrate and the growing usage of ammonium-nitrate-based fertilizers in agricultural lands. Moreover, government standards for handling, manufacturing, and exporting ammonium nitrate in the region have made the ammonium nitrate market in EMEA more competitive and standardized. The major presence of emerging economies in the Asia-Pacific region with growing construction sector investments and significant agricultural activities drives the ammonium nitrate requirement. The American government and regulatory organizations are continuously investing to support fertilizer production to address rising costs. The ongoing mining activities in the Americas are further expected to increase the usage of ammonium nitrate in the coming years.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Ammonium Nitrate Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Need for nitrogen-rich fertilizers to increase agricultural produce from limited arable land
    • Increased utilization of ammonium nitrate in the mining sector
    • Market Restraints
      • Complexities in the production and purity maintenance of ammonium nitrates
      • Market Opportunities
        • New development in ammonium nitrate to improve efficacy
        • Significant investments in the building and construction sector
        • Market Challenges
          • Stringent governmental regulations for storage, transport, and packaging
          • Market Segmentation Analysis
            • Form: Growing demand for granular ammonium nitrate from manufacturing sectors
            • Application: Wider adoption of ammonium nitrate for fertilizer manufacturing
            • End-User: Growing use of ammonium nitrate by the agriculture industry
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Ammonium Nitrate Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Ammonium Nitrate Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Indonesia Advances Toward Agricultural Self-Sufficiency with New Ammonium Nitrate Facility
              
              The Indonesian government inaugurated a state-of-the-art ammonium nitrate production plant on Kalimantan Island. This strategic move aims to bolster the Southeast Asian nation's agricultural sector, with the plant expected to play a pivotal role in achieving self-sufficiency in food production. Establishing this facility is a significant step in Indonesia's commitment to enhancing its agricultural capabilities and reducing reliance on imported fertilizers.
              
              Strategic Joint Venture Agreement Between CIL and BHEL to Establish Ammonium Nitrate Production Facility
              
              Coal India Limited (CIL) and Bharat Heavy Electricals Limited (BHEL) have officially entered a joint venture agreement. This strategic joint venture agreement aims to construct a state-of-the-art ammonium nitrate plant, marking a pivotal enhancement in the domestic production of this crucial chemical compound, widely used as a fertilizer and in explosives for the mining sector.
              
              Strategic Expansion into Ammonium Nitrate and Nitric Acid Production by Saudi Chemical Co. in Collaboration with Dyno Nobel
              
              Saudi Chemical Co., through a collaboration with Dyno Nobel, announced the initiation of a project to establish an ammonium nitrate and nitric acid production facility in Ras Al Khair in a significant stride toward actualizing Saudi Arabia's Vision 2030. This collaboration aims to fortify essential sectors and strategic endeavors within the Kingdom by localizing the production of crucial raw materials for the civil and military explosives industry, thereby fostering innovation within the defense and mining sectors.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Ammonium Nitrate Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Ammonium Nitrate Market, highlighting leading vendors and their innovative profiles. These include Abu Qir Fertilizers and Chemical Industries Company, Austin Powder Company, Avantor, Inc., CF Industries Holdings, Inc., CSBP Limited, CVR Partners, LP, Deepak Fertilisers And Petrochemicals Corporation Ltd., Enaex S.A., EPC Groupe, Eurochem Group AG, Fertiberia, S.A., GFS Chemicals, Inc., GROUP DF, Honeywell International Inc, Incitec Pivot Limited, Koch Industries, Inc., KUMPULAN SAINTIFIK F.E. SDN BHD, MaxamCorp Holding, S.L., Merck KGaA, Neochim PLC, Noah Chemicals, Inc., Orica Limited, PhosAgro Group of Companies, San Corporation, Sasol Limited, Spectrum Chemical Mfg. Corp, Sumitomo Chemical Co., Ltd., Thermo Fisher Scientific Inc., URALCHEM JSC, and Yara International ASA.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Ammonium Nitrate Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Form
              • Granular
              • Powder
              • Application
                • Explosives
                • Fertilizers
                • End-User
                  • Agriculture
                  • Civil & Commercial Explosives
                  • Military Explosives
                  • Mining & Quarrying
                  • Region
                    • Americas
                      • Argentina
                      • Brazil
                      • Canada
                      • Mexico
                      • United States
                        • Arizona
                        • California
                        • Colorado
                        • Florida
                        • Illinois
                        • Massachusetts
                        • Michigan
                        • Nevada
                        • Ohio
                        • Oregon
                        • Pennsylvania
                        • Texas
                        • Asia-Pacific
                          • Australia
                          • China
                          • India
                          • Indonesia
                          • Japan
                          • Malaysia
                          • Philippines
                          • Singapore
                          • South Korea
                          • Taiwan
                          • Thailand
                          • Vietnam
                          • Europe, Middle East & Africa
                            • Denmark
                            • Egypt
                            • Finland
                            • France
                            • Germany
                            • Israel
                            • Italy
                            • Netherlands
                            • Nigeria
                            • Norway
                            • Poland
                            • Qatar
                            • Russia
                            • Saudi Arabia
                            • South Africa
                            • Spain
                            • Sweden
                            • Switzerland
                            • Turkey
                            • United Arab Emirates
                            • United Kingdom
                            
                            
                            Please Note: PDF & Excel + Online Access - 1 Year