Ammonium Nitrate Market Analysis :
Ammonium nitrate is a chemical compound used in agricultural as a high nitrogen fertilizer. It is a white crystalline odorless compound that is highly soluble in water. It can be further processed into flakes. It is also used as a nutrient in the production of antibiotics and yeast. Ammonium nitrate is manufactured by synthetic process and is usually stored in air conditioner warehouses. It is available in granular and powder form in the market. Granular ammonium nitrate also works as a blasting agent as it has great absorption properties. It is an explosive agent and has huge demand. Therefore, these features are expected to witness significant growth of the ammonium nitrate market over a forecast timeframe.
COVID-19 scenario analysis:
- Social distancing norms negatively impacted the mining sector, owing to limited number of laborers in the field. Therefore, this hampers the ammonium nitrate market growth.
- Further decline in the production of agrochemicals due to extended lockdown coupled with suspension of transport activities diminished the market growth.
- Additionally, the insufficiency of raw materials and supply chain disruptions are expected to also hamper the production rate.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Increase in demand for explosives and fertilizers in the agricultural industry is the major driving key factor for the growth of the ammonium nitrate market. Additionally, advantages, such as low nitrogen emission and superior stability of ammonium nitrate compound, lead to the high demand for the product. Ammonium nitrate offers good protection to the crops and improves nitrogen content in the soil; therefore, it has become an essential component of agricultural activities. Furthermore, ammonium nitrate also finds great use in the manufacturing of medicines in the pharmaceutical industry. The rise in demand for mining also drives the ammonium nitrate market and is expected to witness significant growth of mining operations, thereby creating lucrative opportunities for ammonium nitrate market players. However, the high cost per pound of nitrogen is the major restraint that is expected to hamper the growth of the ammonium nitrate market.
The ammonium nitrate market trends are as follows:
New product launches to boost the market
The major developments in the ammonium nitrate markets include high nitrogen fertilizers and rapidly growing agricultural activities that are expected to help to engage new customers in the market. The major market players also have taken the necessary steps to improve the accuracy of new products and overall functionality. The instant availability of nitrate ions makes ammonium nitrate superior over other fertilizers present in the market. The new advanced technology helps manufactures to improve the production rate of ammonium nitrate. In addition, the huge capital investment in the agricultural sector is also the main focus of the key market players.
Surge in usage in agricultural and industrial applications
Manufacturers have been focusing to produce new products for specific applications as there are varying demands based on utilization. Leading market players have determined to improved accuracy that can be influential in many applications. Ammonium nitrate is widely used as a fertilizer and explosive in agricultural industries. It is also required as a nutrient for the production of antibiotics and yeast in large amounts.
Key benefits of the report:
- This study presents the analytical depiction of the ammonium nitrate market along with the current trends and market estimation to determine the imminent investment pockets.
- The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the ammonium nitrate market share.
- The current market is quantitatively analyzed to highlight the ammonium nitrate market growth scenario.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
- This report helps users in comprehending the key product segments and their future.
Questions answered in the ammonium nitrate market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Ammonium Nitrate Market Report Highlights
By End User
Key Market Players
CF industries Holdings, Austin Powder International, OSTCHEM Holding Company, Eurochem Group, Vale Fertilizantes, Enaex SA, Orica, CSBP Limited, Fertiberia SA, Yara International ASA