Ammonium nitrate is a highly stable and non-explosive fertilizer that helps provide nitrogen to crops efficiently. It is colorless and highly soluble in water. Ammonium nitrate improves the fertility of soil by releasing nitrogen that acts as a building block for proteins and chlorophyll production in plants. The demand for ammonium nitrate is largely linked to global grain production levels and population growth driving the need for higher crop yields.
The global ammonium nitrate market is estimated to be valued at US$ 21.18 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The agricultural sector provides significant growth opportunity for the ammonium nitrate market. Rising global population is putting pressure on farmers to produce higher crop yields to meet the increasing global food demand. Ammonium nitrate effectively meets the nitrogen needs of various crops and helps boost agricultural productivity. With a significant portion of the global population dependent on agriculture for livelihood, the demand for high-quality like ammonium nitrate is expected to steadily increase. Governments across countries are also supporting agricultural development through various initiatives. The focus on modern farming practices to feed more people from limited cultivable land will continue driving sales in the ammonium nitrate market during the forecast period.
Porter's Analysis
Threat of new entrants: Low to moderate. Entry barriers such as capital requirements and established contracts for supplying ammonium nitrate keep threats of new entrants at bay. However, possibility of new players with strong financial backing poses a threat.
Bargaining power of buyers: Moderate. Large buyers such as mining industry have higher bargaining power due to bulk purchasing. Small buyers have low bargaining power.
Bargaining power of suppliers: Moderate. Key raw materials suppliers viz. natural gas producers have moderate bargaining power due to availability of substitutes.
Threat of new substitutes: Low. Ammonium nitrate has established applications and no major substitutes provide equivalent performance.
Competitive rivalry: High. Presence of global players intensifies competition. Innovation and capacity expansions by key players further enhance rivalry.
SWOT Analysis
Strengths: Wide applications in mining & construction industries. Easy availability of raw materials. Established production facilities.
Weaknesses: Vulnerable to regulations. Price fluctuations of key feedstocks affect margins. Exposure to supply chain disruptions.
Opportunities: Growing explosives demand from mining industry. Potential in agricultural applications. Capacity expansions in emerging markets.
Threats: Stringent safety and transport norms. Substitution threat from alternate explosives. Volatility in raw material prices.
Key Takeaways
The global ammonium nitrate market size is expected to witness high growth. The global ammonium nitrate market is estimated to be valued at US$ 21.18 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.
Regional analysis comprises-
asia Pacific region is the fastest growing as well as largest market for ammonium nitrate. China accounts for over 30% of global ammonium nitrate capacity aided by large scale mining operations. India is also a major market growing at over 5% annually on back of infrastructure push by the government.
Key players
related content comprises- Key players operating in the ammonium nitrate market are BASF SE, Clariant International Limited, DIC Corporation, Huntsman International LLC, Tronox, Inc, Rockwood Holdings, Inc., Lanxess AG, Atlanta AG, Ferro Corporation, and Merck. BASF and Yara are the largest ammonium nitrate producers globally.
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Further, this report also highlights smart strategy adopted by major players and also their market share.
Basically, this report is designed to give a proper understanding of industry structure and competition intensity attractiveness.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the ammonium nitrate market include Yara International ASA, Orica Limited, Enaex S.A, CF Industries Holdings, Inc, Incitec Pivot Limited, Neochim Ad, Austin Powder International, EuroChem Group AG, OSTCHEM Holding Company, Fertiberia SA, Borealis.S.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Ammonium Nitrate Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/ammonium-nitrate-market/download-sampleMarket DynamicsAcquiring popularity and utilization of ammonium nitrate as a fertilizer and blasting agent is likely to significantly drive the revenue growth of ammonium nitrate market.
Rising demand from agriculture industry for improving soil’s nitrogen content, thus profiting in farming economy is expected to drive the demand and supply of ammonium nitrate.
Ammonium nitrate has been gaining noteworthy traction across the sports industry for treating first aid injuries as the products contains heat absorption and pain alleviation properties.
Ammonium Nitrate Market Overview:The report studies Ammonium Nitrate in Global market Professional Survey 2019: Industry Trends, Industry Growth, Size, Share, Drivers, Restraints, Opportunities, Production, Segmentation, Pricing, Value, Volume, Company Profiling, Competitive Landscape, Product Portfolio, and Specifications for the Forecast Period till 2026.In 2018, the global ammonium nitrate market exceeded the value of USD 16 billion and is estimated to reach USD 24 billion by 2026.Get Access to Report Sample: https://www.reportsanddata.com/sample-enquiry-form/1711This market intelligence study curates an exhaustive database of industrial essentials for formulating favorable strategies.
A thorough investigation of the value chain and the distribution channel is provided in this study by business professionals.
The Ammonium Nitrate Market study offers detailed information pertaining to the extent and application of the market, which helps better understand the global sector.
This report on the Global Ammonium Nitrate Market discusses several growth prospects, including the industry sectors, current trends, up-to-date outlines, driving factors, and hurdles, overall offering market projections for the coming years.Major Key Players of the Ammonium Nitrate Market are:EuroChem Group AG, CF Industries, Orica, Austin Powder Company, Enaex, Incitec Pivot limited, Neochim Plc, URALCHEM, Abu QIR Fertilizers and Chemicals Industries Company, Yara International, Ostchem Holding, Vijay Gas Industry, Fertiberia Market segment based on Product:High DensityLow DensityMarket segment based on Application:FertilizersExplosivesOthersThe Ammonium Nitrate market is heavily consolidated owing to a large number of global, regional, and local key contenders having already established a significant footing.
The key participants dominate the operations in the industry with their extensive geographical coverage and huge production facilities.
To gain a competitive edge over the other competitors in the Ammonium Nitrate industry, the leading players are focusing more on ways to offer products at attractive prices.Get Discount on this Report: https://www.reportsanddata.com/discount-enquiry-form/1711Regional Ammonium Nitrate Market (Regional Output, Demand & Forecast by Countries):-North America (United States, Canada, Mexico)South America (Brazil, Argentina, Ecuador, Chile)Asia Pacific (China, Japan, India, Korea)Europe (Germany, UK, France, Italy)Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) and More.What are the market factors that are explained in the report?Market dynamics: The Ammonium Nitrate report also assesses the various commercial possibilities that are expected to be revealed in the near future and the positive revenue forecasts in the years ahead.
