Ammonium Nitrate Market Size Analysis by Regions, Dynamics, Value Chain Analysis, Industry Events, and 2027

The ammonium nitrate market is anticipated to grow exponentially by 2027 owing to surging demand for food and other agricultural goods worldwide.

Ammonium nitrate is a white crystalline nitrate salt that has various industrial applications ranging from fertilizers, pyrotechnics, and insecticides to explosives and propellants. Notably, R&D activities undertaken by prominent companies have fueled market adoption.

In addition, technological advancements to facilitate effective and safe utilization of ammonium nitrate to produce several industrial products has augmented product demand in recent years. Moreover, industry players are employing lucrative strategies to strengthen their footing in the rapidly evolving market, which has been favorable for the overall business outlook.

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For instance, in February 2020, Orica Ltd., a leading explosives manufacturer, announced the acquisition of Exsa, a Peru-based explosives company. The acquisition enabled Orica to fortify its market presence and expand its business by leveraging Exsa's strong position in the Latin American region. Additionally, the acquisition of Exsa's Initiating Systems (IS) manufacturing facility improved Orica's production capacity.

Similarly, in November 2019, ENAEX, S.A., a Sigdo Koppers Group subsidiary, inked a partnership agreement with Sasol Limited, a major chemical and energy firm, to become a controlling partner in the latter's explosives division. The agreement enhanced ENAEX's position in the explosives market.

To cite another instance, in September 2021, Yara International, a key agricultural products manufacturer, announced the acquisition of Ecolan Oy, a Finland-based recycled fertilizers producer. The deal enabled Yara to expand its organic farming business segment in Europe and integrate Ecolan's expertise to develop high quality recycled fertilizers for agriculture. The combination of Yara's deep crop nutrition solutions and digital tools with Ecolan's effective circular economy facilitated the expansion of Yara's product offerings.

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The ammonium nitrate market has been bifurcated on the basis of end-user, product, and region. In terms of end-user, the market has further been classified into civil construction, agriculture, mining & quarrying, and others.

The others end-user segment is expected to hold the least market share by 2027. Other end-users of ammonium nitrate include pyrotechnics, defense, and so on. Ammonium nitrate is used in military applications to manufacture explosives, such as the daisy cutter bomb, and it is also utilized as a component of amatol. Furthermore, it finds extensive usage in rocket propellants as an oxidizing agent, which is set to fuel segmental development over the review period.

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