The global Ammonium Nitrate Market is expected to reach USD 6.18 billion by 2025, according to a new report by Grand View Research, Inc. Superior stability and low nitrogen emission offered by the product in crop protection chemicals is expected to drive the market growth.
At present, stringent regulations related to transportation, storage, handling, and usage of ammonium nitrate is forcing the manufacturers to opt out of the market. Moreover, the profit margins are shrinking owing to rising substitutes including urea, which further discourages the new entrants to invest in the market which is likely to have a negative impact on the industry trend.
The industry has several players, which are integrated across the value chain to manufacture raw materials. Strong foothold of the existing players in the market is expected to increase entry barrier of new players. In addition, the rivalry between established producers is expected to increase on the account of low product differentiation.
Rising penetration of urea as a substitute for the product in fertilizer application is expected to hamper the industry growth. However, the product offers the better efficiency of nitrogen uptake and has low carbon footprints than urea, which is likely to have a positive impact on the industry trends over the forecast period.
Access Full Research Report on Ammonium Nitrate Market: www.grandviewresearch.com/industry-analysis/ammonium-nitrate-market
Further key findings from the report suggest:
- The demand for the product in China was valued at USD 644 million in 2016 owing to the high production volumes of nitrogen fertilizers in the country for domestic applications as well as exports
- Ammonium nitrates in explosive application is expected to grow at a CAGR of 2.8% from 2017 to 2025, owing its rising demand from military sector for manufacturing of smart explosives
- Fertilizers segment accounted for 60% of the total volume consumed in 2016 and is projected to grow owing to dynamic growth of agricultural activities in developing economies including Brazil, India and China
- The market in Asia Pacific is expected to grow at the highest CAGR of 3.9% from 2017 to 2025, owing to rising coal and mineral mining activities across Asian countries especially in China and India
- Ukraine was one of the largest consumer markets for the product in the world and is expected to grow at a CAGR of 3.1% from 2017 to 2025, owing to high demand for the product in fertilizers
- As of 2016, the major players in the industry including EuroChem Group AG, CF Industries, Orica, and Austin Powder International hold over 35% of the world’s ammonium nitrate production capacity
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Grand View Research has segmented the global ammonium nitrate market on the basis of application and region:
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Browse Press Release of this Report: www.grandviewresearch.com/press-release/global-ammonium-nitrate-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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