Ammonium Nitrate is a white crystalline salt compound with the chemical formula NH₄NO₃. This chemical is synthesized by reacting nitric acid and ammonia. In a final concentrator, the resultant solution is concentrated to 97.5-98%. The concentrated solution is sent to a prilling tower, and some of it is routed to a slurry tank. In the slurry tank, the filler is added and then ammonium nitrate solution is released, and its moisture content is adjusted. Ammonium Nitrate is hygroscopic in nature i.e., it is readily soluble in water. Ammonium Nitrate is a popular nitrogen source because it includes both nitrate and ammonium and has a high nutritional content, thus, it is commonly used as fertilizer and mixed with other fertilizers. It provides plants with nitrate and fulfills their nutritional requirements. Additionally, this chemical is capable to get mixed readily with nitrogen fertilizers, improving the fertilizer’s functionality and durability and enriching the plants. It’s also a key ingredient in a variety of mining explosives, where it’s combined with fuel oil and dispersed by an explosive charge. Other niche applications of Ammonium Nitrate include as a nitrogen oxide absorber, a freezing mixture ingredient, an oxidizer in rocket propellants, and a nutrient for fungi and antibiotics.
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Agriculture Industry is the primary driver of the market and is anticipated to remain so in the forecast period. The increasing global population has driven farmers to boost crop production yields, resulting in strong demand for fertilizers, fueling industry expansion. Because of its high solubility, ammonium nitrate is ideal for producing fertigation or foliar spray solutions. Crops like maize, barley, and soybean, have applications in the food industry as well as other industries; thus, it becomes a challenge to fulfill the demand for such useful crops but with the help of fertilizers it is so possible. Furthermore, factors like growing crop demand and the reduction of cultivable lands with urbanization are anticipated to augment the need for fertilizers in the forecast period, which will most likely propel the Ammonium Nitrate market expansion. Additionally, ammonium nitrate is also used to manufacture ANFO (Ammonium Nitrate Fuel Oil), which comprises approximately 94% porous ammonium nitrate, which is an industrial explosive combination widely employed in mine operations such as coal and metal. The rising production and demand for alumina, iron, diamonds, and base metals are expected to fuel the need for blasting products, propelling the ammonium nitrate market forward.
The global Ammonium Nitrate market is segmented based on end-use, sales channel, and region. Based on the end-user industry, the global Ammonium Nitrate market is segmented into Agriculture Industry, Explosives, Industrial application, and Others. Among these, the Agriculture Industry is the major market consumer with a share of roughly 60% in 2022. Owing to the rise in population curating a higher food demand, the agriculture industry is anticipated to see an expansion in the forecast period.
Based on region, Europe is dominating the Ammonium Nitrate market. In 2022, Europe held a market share approximately of 44% of the global Ammonium Nitrate. Moreover, Asia Pacific is the second largest consumer of this chemical. However, the rising fertilizer usage to cater to the crop demands in developing nations such as India and Bangladesh which have strong agricultural sectors is anticipated to swell up the demand for Ammonium Nitrate in the Asia Pacific region. Although, Russia holds the largest production capacity of ammonium nitrate.
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According to ChemAnalyst report, “Global Ammonium Nitrate Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, Major players for Ammonium Nitrate globally are Acron Group’s Mineral Fertiliser, EuroChem Group AG, Uralchem JSC, CF INDUSTRIES HOLDINGS, INC., Abu Qir Fertilizer, PhosAgro, Fertiberia SA, Deepak Fertilisers And Petrochemicals Corporation Limited, Agroplychim AD, Nitratos del Peru, and others.
“Ammonium Nitrate is a useful chemical which is rich in nitrogen and ammonium, due to which is most widely employed to manufacture fertilizers. The growing demand of fertilizers to enhance crop yield and improve the quality of the crops is anticipated to augment the ammonium nitrate market expansion. Currently, Europe is the leading consumer of Ammonium Nitrate followed by Asia Pacific region. Owing to the rapidly growing population across the globe resulting in rising need for crops will most likely increase the demand of ammonium nitrate in the forecast period and likely to offer potential opportunities for Ammonium Nitrate market players to expand their production capacities in order to reduce demand supply gap of Ammonium Nitrate in the forecast period” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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