Market Size of Europe Ammonium Nitrate Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 1.03 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Ammonium Nitrate Market Analysis
The European ammonium nitrate market is estimated to reach 17.34 million tons by the end of this year, and it is projected to reach 18.26 million tons in the next five years, registering a CAGR of 1.03% during the forecast period.
The COVID-19 pandemic affected several industries negatively. The lockdown in most European countries caused disruptions in production, and restrictions on freight transportation disturbed the supply chain. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- Over the short term, rising demand from the agriculture industry and increasing construction and infrastructure activities are the major factors driving the growth of the market studied.
- However, the availability of substitutes such as potassium nitrate, ammonium sulfate, and urea is likely to restrain the growth of the studied market.
- Nevertheless, the development of green ammonia for fertilizer production is likely to create lucrative growth opportunities for the European market, as green ammonia can be used as a source to produce ammonium nitrate.
- Russia represents the largest market over the forecast period due to the increasing consumption from the agricultural sector.
