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.
To request a sample copy
or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/ammonium-nitrate-market
https://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
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)
·
Fertilizers
·
Explosives
·
Others
Regional Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
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.
