This report examines the factors influencing the growth of the Ammonium Nitrate Explosive Market. It also provides a detailed analysis of future speculations. The report utilizes historical data from 2017 and 2018, considers 2019 as the base year, and forecasts the period from 2020 to 2027. By describing regional markets and conducting comparative studies, the report assists individuals in making investment decisions in this sector. Additionally, the research includes forecast trends based on the data evaluated in this report.
Ammonium nitrate is widely used for two main purposes: fertilizers and explosives. It finds applications in various activities such as agriculture, mining, quarrying, and civil construction. Its versatile range of uses has contributed to its increasing demand over the years. The manufacturers of this chemical are not consolidated, and the industry appears promising as no more potent or feasible substitute has been discovered yet. The market for this chemical is expected to experience significant growth during the forecasted period, projected to reach a valuation of USD 25.27 Billion by 2027, with a CAGR of 4.1% from USD 16.96 Billion in 2019. The industry has been negatively impacted by the pandemic, causing production activities, including manufacturing and construction, which are major contributors to the industry's demand, to come to a halt.
The dynamics of the industry are driven by the usage of this chemical in different sectors, particularly agriculture, manufacturing, and construction. Therefore, countries that are still developing and have agriculture as a significant contributor to their GDP are expected to experience increased demand. The report covers all the factors that determine the future trends of this industry, further divided into drivers and restraints for better understanding.
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Leading Participants
- EuroChem
- Uralchem
- OSTCHEM Holding
- Borealis
- Acron
- Yara
- SBU Azot
- Incitec Pivot
- Zaklady
- Orica
- CF Industries
- CSBP
- Enaex
- KuibyshevAzot
- Minudobreniya(Rossosh)
- DFPCL
- Xinghua Chemical
- Liuzhou Chemical
- Jiehua Chemical
- GESC
- Holitech
- Jinkai Group
- Urals Fertilizer
- Sichun Chemical
- Shangxi Tianji
- Fujian Shaohua
- Sichuan Lutianhua
Factors Driving the Ammonium Nitrate Explosive Market
Here are the key factors that are driving the Ammonium Nitrate Explosive Market:
- Increasing Demand: The wide range of applications for ammonium nitrate, such as its use in fertilizers and explosives, has led to a steady increase in demand for the chemical. This demand is primarily driven by sectors like agriculture, mining, quarrying, and civil construction.
- Lack of Consolidation: The market for ammonium nitrate remains fragmented, with no dominant manufacturers or consolidated industry players. This factor allows for opportunities and competition within the market, contributing to its growth.
- Limited Substitutes: Currently, there are no widely accepted or viable substitutes that can match the potency and feasibility of ammonium nitrate in its various applications. This lack of alternatives further drives the demand for the chemical.
- Emerging Markets: Developing countries that are still expanding their infrastructure and rely heavily on agriculture as a major source of their GDP are expected to contribute significantly to the growth of the Ammonium Nitrate Explosive Market. These regions present new opportunities for market expansion.
- Forecasted Growth: The market for ammonium nitrate is projected to experience significant growth in the coming years. According to forecasts, the market is expected to reach a valuation of USD 25.27 Billion by 2027, with a compound annual growth rate (CAGR) of 4.1% from USD 16.96 Billion in 2019.
It is important to note that the industry has faced challenges due to the impact of the COVID-19 pandemic, which disrupted production activities, including manufacturing and construction, affecting the demand for ammonium nitrate.
These driving factors contribute to the positive outlook for the Ammonium Nitrate Explosive Market and indicate its potential for continued growth in the foreseeable future.
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Ammonium Nitrate Explosive Market: Segmentation
By Application Type (Revenue, USD Million; Volume in Tons, 2017–2027)
- Ammonium Nitrate Fertilizer
- Ammonium Nitrate Explosive
- Other
By Region (Revenue in USD Million; Volume in Tons, 2017–2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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