Asia Pacific Ammonium Nitrate Market Outlook

Synopsis
The above chart is Asia Pacific Ammonium Nitrate Market Outlook (2018 to 2032)

Market Dynamics

asia pacific ammonium nitrate market is expected to remain attractive over the forecasted period of 2018 to 2032 driven by sustained demand from various end-user industries, and robust rise in industrial activities in the region. the fertilizer industry remains the largest application segment, catalysing willingness of governments, particularly in developing nations, to invest in building sophisticated fertilizer plants. moreover, limited substitutes, and the balance between cost and contribution to enhance crop yield are expected to continue to drive demand for ammonium nitrate in the agricultural sector. demand for ammonium nitrate is further spurred by its wide applications in various non-agricultural sector, primarily in the production of explosives. the presence of large oil and gas industries, and coal mining industries in the region will supplemented with high demand for industrial explosives, like ammonium nitrate that is more reliable and non-toxic compared to other explosives like tnt. this is further expected to lead to a beneficial outlook for ammonium nitrate during the forecasted period. furthermore, growing reverences to environment for safer production and improved regulations have led to manufacture of compost manure comprising nitrogen-containing fertilizers such as ammonium nitrate. this coupled with manuring technologies, such as controlled release and slow release fertilizers, and their ability to provide continuous nutrient uptake, is also expected to support the ammonium nitrate market growth over the next decade. additionally, government initiatives, subsidies, and funding towards catalyzing agricultural sector and nutrient management are further expected to bolster the demand for ammonium nitrate. asia pacific ammonium nitrate market is expected to witness a healthy growth, attributed to the expansion of fertilizer and explosives industry, rise in industrial and mining activities, and lenient government policies to promote agricultural sector in the region. furthermore, growing demand for compost manure containing nitrogen-containing fertilizers, and newer technologies like controlled release fertilizers are anticipated to provide opportunities for the ammonium nitrate market in the near future.