Regional Analysis:
Region-specific analysis of the global ammonium nitrate market, as reported in the MRFR report, includes Asia Pacific (APAC), Europe, Latin America, North America, and the Middle East & Africa (MEA).
Europe’s ammonium nitrate market is the largest and it can give the credit to end-user industries who are substantially spurring demand for the product. Germany, Russia, and France are the major contributors and their dominance would take the market forward in the coming years as well. Its use in both agriculture and defense is prolific. North America market can rely mostly on mining, quarry, and construction sector for substantial growth. However, the defense sector is also garnering traction owing to which the market is well-placed to expand further. The MEA market can grow quite rapidly with countries such as Qatar, Oman, Saudi Arabia, and the United Arab Emirates (UAE) showing strong demand from the mining sector.
The APAC market is expected to grow with the highest CAGR during the forecast period. Most of the countries in the region have economies based on their agriculture. At the same point of time, the presence of countries such as China, India, Japan, Vietnam, South Korea, and others ensuring substantial expansion in other verticals like construction, and mining industry. Defense expenditure is also rising. All these factors are triggering an all-round growth in the market. Availability of inexpensive raw material, labor & land, and less stringent regulatory framework can trigger substantial growth during the assessment period.
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Competitive Landscape:
Notable players impacting the global ammonium nitrate market are-
- OSTCHEM (Austria)
- Orica Limited (Australia)
- Yara International ASA (Norway)
- Vijay Gas Industry P Ltd (India)
- Fertiberia SA (Spain)
- EuroChem Group AG (Switzerland)
- Abu Qir Fertilizers and Chemicals Company (Egypt)
- CF Industries Holdings, Inc. (U.S.)
- Enaex (Chile)
- Incitec Pivot Limited (Australia)
- Neochim Plc (Bulgaria)
- San Corporation (China)
- Austin Powder (U.S.)
- URALCHEM JSC (Russia)
In 2018, Abbatis Biochemicals Corp. took over NutriVida Corp, fertilizer and nutrient company. This acquisition will better the company’s prospect. The acquisition can also trigger further production of ammonium nitrate regionally.
Market Insight:
The agricultural sector is benefitting the most from the ammonium nitrate production. Its application as fertilizer is quite substantial in the sector. But its use as explosives in the defense sector is also providing substantial traction. The arms race triggered by various terrorist attacks all over the world can aptly back the production of ammonium nitrate. Its percolation can be recorded in the construction and mining sector and these burgeoning sectors can hand out sufficient profits to the ammonium nitrate market.
Market Research Future (MRFR) in their latest report on the ammonium nitrate market revealed the possibility of attaining robust CAGR during the forecast period (2016-2023). Ammonium nitrate is a white, solid, crystal compound that is highly soluble in water. Almost all of it that is in use now across the world are synthetic. The compound is hygroscopic in nature that means it can absorb moisture from air quite easily. That is why the product often comes in sealed packs. It has multiple uses across industries such as food, defense, agriculture, and others. MRFR, in their global report of the ammonium nitrate market, analyzed it by breaking the market profile down to segments and their volume-wise and value-wise contribution. At the same time, they have focused on factors that can have a significant global impact in the coming years.
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Segmentation:
MRFR’s discussion on the global ammonium nitrate market segments it by application and end-user for a better understanding.
Based on the Application, the ammonium nitrate market can be segmented into explosives, fertilizers, and others. The fertilizer segment dominated more than 56% market share in 2016 as the demand from the agricultural sector is getting higher with each passing year.
Based on the End-User, the ammonium nitrate market can be segmented into construction, mining, quarry, agriculture, and others. The agriculture segment accounts for substantial market share. The defense segment is also creating much scope for the ammonium nitrate market expansion.
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