Ammonium Nitrate Market 2018: Overview, Top Key Players, Growth and Analysis by Forecast 2023

Ammonium Nitrate is composed of nitrite salt of the ammonium cation that offers excellent solubility, stability, and pH value. The Global Ammonium Nitrate Market has been driven by the range of its application in various sectors such as fertilizers, explosives, and others. Moreover, the growing demand for the product in end-use industries such as mining, agriculture, defense, and others is projected to drive the market over the forecast period.

Market Segmentation
The Global Ammonium Nitrate Market is segregated into application and end-use. On the basis of the application, the market is further categorized into fertilizers, explosives, and other segments. On the basis of the end-use, the market is classified as agriculture, mining, defense, and others.

Market Scenario
The fertilizers are the leading application used in the market and are anticipated to observe a rapid progress due to its growth in industrial applications such as the production of crops, fruits, and others. Moreover, its fine size and water solubility are some of the other properties offered by the product in the industry.

The agriculture is the leading end-use in the market and anticipated to observe a rapid growth due to boundless consumption of the product in organic nutrients, and others. Moreover, the growing demand for the product is expected to witness a rapid growth in the sector due to extensive consumption of Ammonium Nitrate in end-use industries.

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Competitive Analysis
Some of the major players functioning in the Global Ammonium Nitrate Market are Orica (Australia), Incitec Pivot Limited (Australia), Neochim Plc. (Bulgaria), URALCHEM JSC (Russia), SAN Corp (Philippines), CF Industries Holdings, Inc. (the Netherlands), EuroChem Group AG (Switzerland), Austin Powder (U.S.), Vijay Gas Industry Pvt. Ltd. (India), and OSTCHEM (Austria) among others.

Regional Analysis
The Global Ammonium Nitrate Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major portion of the global market and is anticipated to continue its dominance due to the rising demand for ammonium nitrate in various applications. Countries such as China, Japan, and India are the major players in this region. The North America region is estimated to witness a rapid growth in the U.S., Canada, and Mexico owing to growing consumption in gun powder, and in the production of explosive devices such as grenades, bombs, fuel oil, and others. Moreover, the extensive use of the product in manufacturing daisy cutter bombs is set to drive the market during the forecast period. The growing innovation in research & development activities and technological advancement have driven the manufacturers to use the product in the end-use industries. Owing to these factors, the market is likely to witness a positive growth in Germany, the U.K, and Italy.

The Middle East & Africa is estimated to observe a significant growth due to increasing consumption of fertilizers in agriculture, mining, and others. Additionally, the increasing demand for Ammonium Nitrate in major industries is projected to boost the market in the Latin American region.

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