Ammonium Nitrate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Ammonium Nitrate market is segmented by Application (Fertilizers, Explosives, and Other Applications), End-users (Agriculture, Mining, Defence, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). The report offers market size and forecasts for Ammonium Nitrate Market in volume (kilo tons) for all the above segments.

Ammonium Nitrate Industry Overview

Ammonium Nitrate Market Summary
Study Period: 2017-2027
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: > 4 %

Major Players

Ammonium Nitrate Market 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).

Application
Fertilizers
Explosives
Other Applications
End Users
Agriculture
Mining
Defence
Other End Users
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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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.
Production of Main Cereals, in Million Tons, European Union, Global, 2017-2021

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.
Ammonium Nitrate Market - Growth Rate by Region, 2022-2027

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

  1. Euro chem

  2. Orica

  3. CF Industries

  4. URALCHEM JSC

  5. Yara International ASA

*Disclaimer: Major Players sorted in no particular order

Ammonium Nitrate Market.png

Ammonium Nitrate Market Recent Developments

There are no recent developments pertaining to the market.

Ammonium Nitrate Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rising Demand for Ammonium Nitrate fuel oil (ANFO)

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Increase in Regulations Due to Potential for Misuse

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Application

      1. 5.1.1 Fertilizers

      2. 5.1.2 Explosives

      3. 5.1.3 Other Applications

    2. 5.2 End Users

      1. 5.2.1 Agriculture

      2. 5.2.2 Mining

      3. 5.2.3 Defence

      4. 5.2.4 Other End Users

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Rank Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 CF Industries

      2. 6.4.2 Enaex

      3. 6.4.3 Euro chem

      4. 6.4.4 Maxam

      5. 6.4.5 Orica

      6. 6.4.6 Sasol

      7. 6.4.7 San Corporation

      8. 6.4.8 URALCHEM JSC

      9. 6.4.9 Vijay Gas Industry P Ltd

      10. 6.4.10 Yara International ASA

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Smart Explosives

    2. 7.2 Other Opportunities

**Subject to Availability
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Ammonium Nitrate Market Research FAQs

The Ammonium Nitrate Market market is studied from 2017 - 2027.

The Ammonium Nitrate Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

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.

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