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Ammonium Nitrate Market 2020: Rising demand for fertilizers from agricultural sector will drive industry expansion

Author : Ravi Chawat | Published Date : 2020-09-09 

According to estimates from authentic reports, global ammonium nitrate market size is expected to exceed $20 billion by 2025. Proliferating concerns regarding food safety worldwide are necessitating widespread adoption of fertilizers across the agriculture landscape, in turn driving ammonium nitrate market trends. Ammonium nitrate fertilizer is utilized extensively during crop production due to the product’s ability to release nitrogen slowly.

Shrinkage of agriculture land and growing consumption of food is also projected to augment industry outlook over the estimated timeline.

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Stringent regulations pertaining to use of the product may hamper market growth

Easy availability of substitute products and fluctuations in raw material prices may obstruct ammonium nitrate market growth in the coming years. Ammonium nitrate alternative products like NPK (nitrogen, phosphorous & potassium) and urea-based fertilizers, among others are readily available in the market, which may further impede industry expansion.

Additionally, the explosive and hazardous nature of ammonium nitrate has necessitated strict legislative regulations pertaining to product usage, which is likely to boost the demand for alternative products in the foreseeable++ future.

Adoption of HADN (high density ammonium nitrate) will serve as a pivotal trend for industry development

Global ammonium nitrate market is broadly segmented based on end-use and product. With regards to the product spectrum, HDAN or high-density ammonium nitrate segment is poised to account for the largest share and depict appreciable growth at a rate of nearly 5.5% through 2025. HDAN is utilized largely as an oxidizing agent in wet environments, as a result of the product’s purified state and non-porous structure.

In terms of end-user segmentation, ammonium nitrate market is categorized into mining and quarrying, agriculture, civil construction as well as other including defense, pyrotechniques, etc. Ammonium nitrate usage in the mining sector is predominantly for the manufacture of explosives for mining activities. China and the US are among the most prominent nations in terms of mining activities, which is likely to boost industry demand in the regions. In fact, ammonium nitrate market share from the mining and quarrying segment is anticipated to exhibit commendable growth at a rate of 5% CAGR through 2025, owing to proliferation of mining activities in these regions.

Europe & APAC to deliver lucrative growth opportunities to ammonium nitrate market

On the regional front, Europe accounted for the largest share in the overall ammonium nitrate industry owing to prolific infrastructural and building activities in major European nations. Product demand from the construction industry is expected to accelerate considerably in coming years, as ammonium nitrate is used widely as an explosive for construction activities.

APAC will also emerge as a key revenue pocket for ammonium nitrate market outlook as a result of a upsurge in mining activities in Asian countries. Furthermore, growing agricultural sector in developing nations will also accelerate industry demand in the region.

Key ammonium nitrate market players include Ostchem, CF Industries Holdings, Yara International, Fertiberia, Eurochem, Orica and Austin Powder International, among others.

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Growing food grain production and rapid advancements in the agricultural sector along with expansion of construction activities in the region will stimulate the demand for ammonium nitrate considerably. Asia Pacific ammonium nitrate market is estimated to grow with more than 3.1% CAGR from 2018-2025.

The demand for food and various other products from agricultural systems will surge over the next few decades so to feed the growing population the farmers have to keep their soils healthy and full of nutrient.

Moreover, adoption of new agriculture management techniques in agro-based countries and rapid growth in agriculture sector is likely to enhance ammonium nitrate industry share in the coming years.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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