Ammonium Nitrate Industry Overview

Study Period: | 2017-2027 |
Fastest Growing Market: | Asia Pacific |
Largest Market: | North America |
CAGR: | > 4 % |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
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Ammonium Nitrate Market Analysis
The ammonium nitrate market is projected to register a CAGR of over 4% during the forecast period.
During Covid-19, the ammonium nitrate market growth was hampered owing to transport restrictions and the scarce availability of raw materials. However, it is projected to grow steadily, owing to increased urbanization activities in 2021. Many countries are investing heavily in developing their architecture, aided by assistance from government agencies as well as private companies.
- Over the short term, the rising demand for ammonium nitrate fuel oil (ANFO) is a major factor driving the market's growth.
- However, the increases in regulations due to the potential for misuse is a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Nevertheless, the increase in the innovation of smart explosives is likely to create lucrative growth opportunities for the global market soon.
- North America dominated the market across the world with the largest amounts of ammonium nitrate consumption from countries, such as the United States and Canada.
Ammonium Nitrate Industry Segments
Ammonium Nitrate is a widely used fertilizer. It is also the main component in many types of mining explosives, where it’s mixed with fuel oil and detonated by an explosive charge. The ammonium nitrate market is segmented by application, end-users, and geography. By application, the market is segmented into fertilizers, explosives, and other applications, By end-users, the market is segmented into agriculture, mining, defense, and others. The report also covers the market size and forecasts for the ammonium nitrate market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo tons).
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Explosives | |
Other Applications |
End Users | |
Agriculture | |
Mining | |
Defence | |
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Ammonium Nitrate Market Trends
This section covers the major market trends shaping the Ammonium Nitrate Market according to our research experts:
Agriculture Segment Accounts for Major Share of the Ammonium Nitrate Market
- In the agricultural industry, fertilizers are used to enrich the growth of plants. They contain essential nutrients for plants, which provide healthy growth and keep them disease-free. Various types of fertilizers are available in soluble, dry crystalline, and time-release forms. Ammonium nitrate is one such fertilizer used to provide adequate nitrogen levels to plants.
- The ammonium fraction from ammonium nitrate is taken up by roots or gradually converted to nitrate by soil microorganisms. Many vegetable farmers prefer an immediately available nitrate source of plant nutrition and use ammonium nitrate. Animal farmers like it for pasture and hay fertilization since it’s less susceptible to volatilization losses than urea-based fertilizers when left on the soil surface.
- Ammonium nitrate is commonly mixed with other fertilizers, but these mixtures can’t be stored for long periods because of a tendency to absorb moisture from the air.
- The agriculture domain has seen tremendous growth over the past few years. The total value of agricultural production reached 297.5 million tons in 2021 and registered good growth compared to 2020.
- Hence, with the rapidly growing agricultural activities across the world, the demand for solid ammonium nitrate is expected to rapidly increase over the forecast period.
- The 2,700 tons of Ammonium Nitrate blast in Beirut in 2020 though signifies the importance of handling the substance and the need for stricter and well-defined regulations in the industry.

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North America Region to Dominate the Market
- North America represents the largest regional market for the global ammonium nitrate market.
- This enormous demand for ammonium nitrate is a consequence of the growing demand for ammonium nitrate fuel oil and increased demand for explosives in defense.
- President Biden sent Congress for Fiscal Year (FY) 2022 with the biggest defense spending bill in the history of the United States, to the tune of USD 768 billion, about 30 billion more than the last Trump administration's budget for FY 2021.
- In North America, the United States provides the primary market for the agricultural industries, though Canada's fertilizer industry has seen growth in the near past.
- Canada's fertilizer industry has many manufacturers and wholesale and retail distributors of nitrogen fertilizers. The country also has a vast export market.
- As of December 2021, 300 businesses were operating in the Canadian fertilizer manufacturing industry. 4,708 people were employed across Canada in the fertilizer manufacturing industry at that time.
- The fertilizer segment is projected to grow owing to the dynamic growth of agricultural activities in the region over the forecast period.

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Ammonium Nitrate Market Competitor Analysis
The global ammonium nitrate market is highly fragmented with the presence of many players in the market. The major companies include (not in any particular order) Euro chem, Orica, CF Industries, URALCHEM JSC, and Yara International ASA, among others.
Ammonium Nitrate Market Top Players
Euro chem
Orica
CF Industries
URALCHEM JSC
Yara International ASA
*Disclaimer: Major Players sorted in no particular order

Ammonium Nitrate Market Recent Developments
There are no recent developments pertaining to the market.
Ammonium Nitrate Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Demand for Ammonium Nitrate fuel oil (ANFO)
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Increase in Regulations Due to Potential for Misuse
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Application
5.1.1 Fertilizers
5.1.2 Explosives
5.1.3 Other Applications
5.2 End Users
5.2.1 Agriculture
5.2.2 Mining
5.2.3 Defence
5.2.4 Other End Users
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Rank Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 CF Industries
6.4.2 Enaex
6.4.3 Euro chem
6.4.4 Maxam
6.4.5 Orica
6.4.6 Sasol
6.4.7 San Corporation
6.4.8 URALCHEM JSC
6.4.9 Vijay Gas Industry P Ltd
6.4.10 Yara International ASA
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Smart Explosives
7.2 Other Opportunities
Ammonium Nitrate Market Research FAQs
What is the study period of this market?
The Ammonium Nitrate Market market is studied from 2017 - 2027.
What is the growth rate of Ammonium Nitrate Market?
The Ammonium Nitrate Market is growing at a CAGR of >4% over the next 5 years.
Which region has highest growth rate in Ammonium Nitrate Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Ammonium Nitrate Market?
North America holds highest share in 2021.
Who are the key players in Ammonium Nitrate Market?
Euro chem, Orica, CF Industries, URALCHEM JSC, Yara International ASA are the major companies operating in Ammonium Nitrate Market.
Ammonium Nitrate Industry Reports
In-depth industry statistics and market share insights of the Ammonium Nitrate sector for 2020, 2021, and 2022. The Ammonium Nitrate research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Ammonium Nitrate report PDF.