The global ammonium nitrate market is expected to showcase significant growth during the forecast period. Ammonium nitrate is a colorless, white or odorless, crystal salt which is produced by neutralizing nitric acid (HNO3) with ammonia (NH3). It is an essential component of several fertilizer mixtures and delivers a source of nitrogen to plants, which enhances crop yields and growth. It is readily available to crops than urea. Apart from agriculture, a small amount of ammonium nitrate is used as an additive for mining explosives and other non-agriculture applications owing to its powerful oxidizing properties. The major factors boosting the growth of the market include growth in construction and mining operations and a significant rise in agricultural production.
Mining is expected to be one of the major segments for the ammonium nitrate market. It is replacing dynamite in blasting of rock for mines and road cuts. It is due to the simple process to manufacture the explosive by ammonium nitrate. To manufacture explosives, ammonium nitrate is mixed with oil or any petroleum-based products and is ignited by a small amount of dynamite or a large blasting cap. A chemical explosive needs fuel and an oxidizer and ammonium nitrate have both of them. Ammonium nitrate as an explosive is also used by farmers in order to remove the trees and other objects from the field. It is expected that the ammonium nitrate will find a significant market as an explosive during the forecast period.
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Rising mining activities with a modest rate is also expected to provide significant growth to the ammonium nitrate market. As per the report by the World Mining Congress, in 2017 the total mineral production was around 17.2 billion metric tons as compared to 15.85 billion metric tons in 2010. Asia-Pacific has the largest share in production with about 65% of global production in 2017. It is followed by North America and Europe with 14.4% and 8.5% respectively. China is the leader in mining with 23.5% in 2017 followed by the US, Russia, and Australia with 11.5%, 9.2%, and 7.3% respectively. With the increase in the adoption of ammonium nitrate as explosives, it is expected that the countries with significant mining activities will have a considerable market for ammonium nitrate during the forecast period.
Current Market trends covered in the market report
Global Ammonium Nitrate Market Segmentation
By Application
By Industry
Global Ammonium Nitrate Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World