Global Ammonium Nitrate Market is predicted to reach USD 28.87 billion at a CAGR of 5.55% during the forecast period

Pune, India, September, 2023, MRFR Press Release/- Market Research Future published a half cooked research report on global Ammonium Nitrate Market.

Market Research Future (MRFR) has published a cooked research report on the “Global Ammonium Nitrate Market” that contains information from 2022 to 2030. The Global Ammonium Nitrate Market is estimated to register a CAGR of 5.55% during the forecast period of 2022 to 2030.

MRFR recognizes the following companies as the key players in the Global Ammonium Nitrate Market— Enaex, EuroChem Group AG, CF Industries Holdings Inc, Incitec Pivot Limited, Neochim Plc, URALCHEM JSC, San Corporation, Austin Powder, Abu Qir Fertilizers and Chemicals Company, Yara International ASA, and OSTCHEM.

Market Highlights

Global Ammonium Nitrate Market is accounted to register a CAGR of 5.55% during the forecast period and is estimated to reach USD 28.87 Billion by 2030.

Ammonium nitrate is a chemical compound with the scientific formula NH4NO3. It is a white crystalline solid and consists of ammonium ions (NH4+) and nitrate ions (NO3-) held together by ionic bonds. Ammonium nitrate is highly soluble in water, making it a readily available source of nitrogen and also making it prone to caking or clumping in humid conditions. Due to its high nitrogen content, it is commonly used as a fertilizer in agriculture to provide essential nutrients for plant growth. Additionally, ammonium nitrate is widely used in the explosives industry as a component of explosive mixtures, particularly in mining, quarrying, and construction activities. However, its use as an explosive has been strictly regulated in many countries due to safety concerns and its potential for misuse in terrorist activities.

Segment Analysis

The Global Ammonium Nitrate Market has been segmented based on Application, and End User.

Based on Application, the market is segmented into Explosives, Fertilizers, and Others. The dominance of the Explosives category in the Ammonium Nitrate market can be attributed to its widespread use as a key component in explosive mixtures for various industrial applications, such as mining, quarrying, and construction.

Based on End Users, the market is segmented into Construction, Mining, Quarry, Agriculture, and Others. The Construction category dominates the Ammonium Nitrate market due to its significant use as a nitrogen-rich fertilizer, providing essential nutrients for plant growth and supporting agricultural activities.

Regional Analysis

The Global Ammonium Nitrate Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Ammonium Nitrate Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Ammonium Nitrate Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Global Ammonium Nitrate Market comprises of Middle East, Africa, and Latin America.

In the North America Ammonium Nitrate market, the US holds the largest market share, accounting for approximately 20%-22% of the overall market. This dominance is attributed to the country's substantial demand for nitrogen fertilizers, particularly for cereal production like corn and wheat. The extension of farmlands by the US Department of Agriculture to cultivate 94.0 million acres of maize and 85.0 million acres of soybeans in 2021 has driven increased usage of nitrogenous fertilizers, ensuring sustained domestic crop output.

In the Asia-Pacific region, the Ammonium Nitrate market holds the second-largest market share of approximately 25%-27%. This growth is primarily fueled by the booming construction and agriculture industries in the region. Notably, China's Ammonium Nitrate market holds the largest share and is the fastest-growing in the Asia-Pacific region, contributing significantly to the overall market expansion.

Key Findings of the Study

• The Global Ammonium Nitrate Market is expected to reach USD 28.87 Billion by 2030, at a CAGR of 5.55% during the forecast period.


• In the North America Ammonium Nitrate market, the US holds the largest market share due to its significant demand for nitrogen fertilizers, especially for cultivating cereal crops such as corn and wheat.


• Based on the Application, the Market has been segmented into Explosives holding the largest market in 2022.


• Enaex, EuroChem Group AG, CF Industries Holdings Inc, Incitec Pivot limited, Neochim Plc, URALCHEM JSC, San Corporation, Austin Powder, Abu Qir Fertilizers and Chemicals Company, Yara International ASA, and OSTCHEM.

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