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Ammonium Nitrate Market Trend till 2023, Industry Growth Analysis, Top Competitors, and Forecast
Ammonium Nitrate Market is driven by end-user industries like building & construction, agriculture, mining, quarry through 2018 to 2023 and expected to grow with a steady CAGR
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.
In recent years, the mining industry has witnessed considerable growth on account of increasing global demand for various earthen minerals, which is likely to propel growth of the global ammonium nitrate market over the estimated period. Moreover, rapidly increasing construction activities due to huge investment in infrastructural development around the globe is anticipated to boost demand for the product. However, the major factor anticipated to hamper growth of the market is the stringent government regulations imposed by regulatory bodies.
Industry Related News:
In, November 1, 2017- Ukraine based association of ammonia, nitrogen fertilizers, organic alcohol and acids, and consumable goods from polymers and plastic films manufacturers, PJSC Severodonetsk Azot recently resumed the production of ammonium nitrate. In November 2017, the company planned to produce 51,000 tons of ammonium nitrate. For the same purpose they have renewed work on the entire technological chain starting from accepting ammonia to obtaining mineral fertilizers, wherein the mineral fertilizers produced will be supplied to domestic farmers.
In, January 29, 2018 - The output of commercial products by URALCHEM’s plants in 2017 amounted to 6.3 million tons, which is a 4% (258 thousand tons) increase year-on-year. The production of ammonium nitrate and its derivatives, and ammonia in general, remained at the high level achieved in 2016. Urea output increased by 6% due to quick repairs of urea units at the Azot and PMF Branches. The production of complex fertilizers grew by 16% because of higher daily output at JSC Voskresensk Mineral Fertilizers.
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The Global Ammonium Nitrate Market is divided across five regions; Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa.
Globally, 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. 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.
The Global Ammonium Nitrate Market is categorized on the basis of end-user, application, and region. On the basis of the region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. On the basis of end-user, the market is segmented into construction, mining, quarry, agriculture, On the basis of application, the market is categorized into explosives, fertilizers. 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.
Some top competitors operating in the Global Ammonium Nitrate Market are, Yara International ASA (Norway), OSTCHEM (Austria), Orica Ltd. (Australia), Enaex (Chile), Vijay Gas Industry Pvt. Ltd (India), EuroChem Group AG (Switzerland), 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), and Fertiberia SA (Spain).
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