Ammonium Nitrate Market is estimated to grow substantially with a stable CAGR during Forecast of 2023 to 2023

About Ammonium Nitrate Market:
As analysis of MRFR, the protuberant factors and trends driving growth of the global ammonium nitrate market are, the increasing building & construction activities, growing consumption of the product for manufacturing explosives, steadily rising defense sector on the backdrop of increasing defense expenditure by the leading military powers, and others. Additionally, the growing focus over increasing productivity due to shrinking land size and increasing population has necessitated the sue of good quality fertilizers to enhance crop yield. This is expected to fuel demand for the ammonium nitrate throughout the forecast period.

Industry News: In, January 29, 2018- The output of commercial products by URALCHEM’s plants in 2017 amounted to 6.3 million tons, which is a 4% (258 thousand tons) increase year-on-year. The production of ammonium nitrate and its derivatives, and ammonia in general, remained at the high level achieved in 2016. Urea output increased by 6% due to quick repairs of urea units at the Azot and PMF Branches. The production of complex fertilizers grew by 16% because of higher daily output at JSC Voskresensk Mineral Fertilizers.

Regional Analysis: The global Ammonium Nitrate Market is divided across five regions, Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, North America market is estimated to witness a moderate growth due to increased demand from mining, quarry, and construction sector. The U.S and Canada are among the major contributors in the regional market growth due to strong demand from the defense sector. Latin American countries such as Mexico, Brazil, Argentina, and Guatemala are expected to register average growth due to rising demand for ammonium nitrate-based fertilizer from agriculture.

Market Classification: The global Ammonium Nitrate Market is categorized on the basis of end-user, application, and region. On the basis of end-user, the market is segmented into construction, mining, quarry, agriculture, On the basis of application, the market is categorized into explosives, fertilizers. Among the application segment, the fertilizer sub-segment accounted for more than 56% market share in 2016 due to rising need for fertilizer to meet the growing demand for food. On the basis of the region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Top Global Vendors: Some of the top vendors operating in the global Ammonium Nitrate Market are, Enaex (Chile), Vijay Gas Industry Pvt. Ltd (India), EuroChem Group AG (Switzerland), CF Industries Holdings, Inc. (U.S.), Incitec Pivot Ltd. (Australia), Neochim Plc (Bulgaria), URALCHEM JSC (Russia), San Corporation (China), Austin Powder (U.S.), Abu Qir Fertilizers and Chemicals Company (Egypt), Yara International ASA (Norway), OSTCHEM (Austria), Orica Ltd. (Australia), and Fertiberia SA (Spain)

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