Stratview Research has recently published a report on the Ammonium Nitrate Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2022 to 2028.

The market is segmented by Product Type (High Density Ammonium Nitrate (HDAN), Low Density Ammonium Nitrate (LDAN), and Ammonium Nitrate solution), End-User Type (Agriculture, Mining & Quarrying, Civil Construction, and Others), and by Region.

Ammonium Nitrate Market Analysis:

Stratview Research’s report discusses the segment-wise current market condition. Also, it offers an estimation of future growth opportunities. As per the estimation, the Ammonium Nitrate Market  was expected to grow from USD 15.82 billion in 2021 to reach USD 19.99 billion by 2028 at a CAGR of 3.32% during the forecast period.

What is Ammonium Nitrate?

Ammonium nitrate, chemically known as NH4NO3, is a chemical compound. Made up of ammonium and nitrate ions, it is a white crystalline substance. Owing to its high source of nitrogen, it is commonly used as a fertilizer.

At an elevated temperature, ammonium nitrate can be decomposed violently, leading to its application as an explosive in the mining industry. Furthermore, on account of its remarkable hygroscopic nature, the chemical compound is largely used in various food preservation applications.

Some of the companies drive the market growth:

  • Austin Powder Company
  • CF Industries Holdings, Inc.
  • Enaex S.A
  • EuroChem Group AG
  • Fertiberia SA
  • Incitec Pivot Ltd
  • Neochim AD.
  • Orica Ltd.
  • OSTCHEM Holding
  • Yara International ASA.

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Segment Analysis

Product Type:

The market is segmented as High-Density Ammonium Nitrate (HDAN), Low Density Ammonium Nitrate (LDAN), and Ammonium Nitrate solution. HDAN led the market in 2021 at a CAGR of more than 3.3%, and is estimated to maintain its vanguard during the forecast period as well. The segment’s growth is owing to the product being mainly used as an oxidizing agent in the agriculture industry.

The rapidly growing demand for HDAN in agricultural applications on account of the increasing crop yield, improving fertility of soil types, controlling growth of vegetation mass, and increasing gluten & protein content in grains will fuel the overall market over the forecast period. Also, High-Density HDAN being low porous, can be transformed into the melt form to produce water gels or emulsion explosives.

Region Analysis:

Europe is estimated to lead the market during the forecast period. The region’s growth is driven by countries, including Germany, the UK, France, and Italy, which have a matured agriculture industry. As per the European Environment Agency, grassland and cropland together account for 39% of Europe’s land cover.

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