The Global Ammonium Nitrate Market will be driven by the growing application of the product in Fertilizers during the forecast period 2022-2027

Expert Market Research’s new report titled “Global Ammonium Nitrate Market Report and Forecast 2022-2027′, gives an in-depth analysis of the global ammonium nitrate market, assessing the market based on its segments such as applications and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2017-2027)

  • Forecast CAGR (2022-2027): 8%

The growing application of ammonium nitrate in the fertilizer sector, owing to the booming agriculture industry, rising population and global increase in food demand, is expected to be a major driving factor on the market. In addition to this, expanding construction and healthcare industries are expected to propel the demand for ammonium nitrate as it is an essential component of building structures and aerosol packaged medicines. In terms of region, North America accounts for a large share of the market due to rising military and defense spending in the United States of America and Canada.

Industry definition and major segments

Ammonium nitrate is defined as a white or gray colored solid that has a trigonal crystal structure and is primarily used in the manufacture of fertilizers and explosives. The friction and shock sensitivity of the product is extremely low and is generally produced by reacting nitric acid with ammonia in vapor form. Major end-use industries for the product include military and defense, and agriculture, among others.

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By Application, the market can be segmented into:

  • Fertilizers
  • Explosives
  • Others

Regional markets for ammonium nitrate include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market trends

Rapid development of chemical plants and technological advancements in major ammonium nitrate end-use industries are expected to be the major market trends during the forecast period. In addition to this, increase in military and defense spending which leads to the rapid development of explosives and ammunition is expected to propel the demand for the product during the forecast period.

Main market players

The major market players are CF Fertilizers UK, Croda International Plc, Yara International ASA, Orica Limited Maxamcorp Holding, SL and Sasol Limited among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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