Ammonium Nitrate Market

The global ammonium nitrate market is projected to register a healthy CAGR of 3.09% during the forecast period (2018–2025). The global market, in terms of value, is expected to reach USD 5,880.39 million by the end of 2025. The major factor driving the global market growth is increasing mining activities due to the growing demand for minerals and metals in the industrial sector. However, stringent environmental and safety regulations by the Environmental Protection Agency (EPA) and Occupational Health and Safety (OSHA) are expected to hamper the growth of the global market. Nevertheless, the growing use of ammonium nitrate in the medical industry is expected to create lucrative opportunities for the participants operating in the global market during the forecast period.

The European market accounted for the largest share of the global market of 38.54% in 2017 and is expected to register a CAGR of 2.52% during the forecast period owing to the growing adoption of the product in explosive and ballasting applications. Besides, ammonium nitrate finds application in fertilizers for its high nitrogen content.

The Asia-Pacific market is estimated to exhibit the highest CAGR of 3.84% and is estimated to reach USD 1,607.35 million by the end of 2025 owing to the increasing use of the product in the production of fertilizers and explosives. China is the leading country followed by India owing to the presence of leading manufacturers of ammonium nitrate such as San Corporation that serves explosive grade ammonium nitrate.