Global Ammonium Nitrate Market Size to Grow USD 42.71 Billion By 2030 | CAGR 8.5%.

Global Ammonium Nitrate Market Size to Grow USD 42.71 Billion By 2030 

According to a research report published by Spherical Insights & Consulting, the Global Ammonium Nitrate Market Size to grow from USD 20.5 billion in 2021 to USD 42.71 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period.

One of the key drivers of Ammonium Nitrate market expansion is due to a popular fertiliser has high nitrogen content is ammonium nitrate. The use of high-quality fertilisers has been consistently urged in order to meet the growing demand for food due to the rising pressure to produce enough food, as well as growing worries about the global shortage of arable land and the rapid population expansion.

Browse 48 market data Tables and 58 Figures spread through 279 Pages and in-depth TOC on "Global Ammonium Nitrate Market Size, Share, and COVID-19 Impact Analysis by Product (High density, Low density and Solution), By End-users (Agriculture, Mining & quarrying, Civil construction and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030."  View a detailed Table of Content here– https://www.sphericalinsights.com/reports/ammonium-nitrate-market

The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes.

The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.

The High-density segment to account for the largest market size during the forecast period

Based on the Product, the global Ammonium Nitrate Market is categorized into High density, Low density and Solution. The High-density segment to account for the largest market size during the forecast period. The High-density market category now has the largest market share and is anticipated to expand at a high CAGR over the anticipated years because due to its extremely thick, impermeable, and pure condition prills.

Over the next years, the global ammonium nitrate market value will increase due to the quickly expanding demand for HDAN in agricultural applications due to rising crop yields, improved soil fertility, reduced development of vegetative mass, and rising gluten & protein content in grains.

The Agriculture segment to hold a higher CAGR during the forecast period.

 Based on the End-users, the Ammonium Nitrate Market is categorized into Agriculture, Mining & quarrying, Civil construction and Others. The Agriculture segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Agriculture segment is anticipated to maintain its leading position because the ammonium nitrate market as a result of the product's expanding use as fertiliser.

In order to increase yield, fertility, and plant development, fertilisers are often given to plants or soils. In the next years, the ammonium nitrate market will progressively expand due to factors such as the need to increase crop production rates to meet the rising global food demand as well as government efforts and programmes to raise farmer knowledge about the usage of fertilisers.

 North America to hold a higher CAGR during the forecast period.

The Global Ammonium Nitrate Market has been segmented into five major regions:  North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Europe is estimated to account for the highest market share in 2022.  The demand for Ammonium Nitrate is being driven by the rising acceptance by the market. Countries with developed agriculture industries include Germany, the UK, France, and Italy. Grassland and agriculture make up 49% of Europe's total land area, according to the European Environment Agency.

The demand for ammonium nitrate will increase as a result of government initiatives and programmes to increase fertiliser use in the agricultural sector. For instance, the EU Nitrogen External Panel (EUNEP) offers indicators for Nitrogen Use Efficiency (NUE) so that different methods for increasing agricultural output and lowering environmental effect may be used.

Major vendors in the Global Ammonium Nitrate Market include EuroChem, Uralchem, OSTCHEM Holding, Borealis, Acron, Yara, SBU Azot, Incitec Pivot, Zaklady, Orica, CF Industries,CSBP, Enaex, and KuibyshevAzot.

Key Target Audience

• Market Players
• Investors
• Applications
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Third-party knowledge providers
• Value-Added Resellers (VARs)

Some of the Key Developments:

• In July 2020, Sasol and Enaex S.A. made an announcement about their joint venture, which will begin operations in Southern Africa. Enaex Africa is the anticipated name of the new business. Enaex S.A. is anticipated to hold the majority of the company's shares and to control its management and operations.

• In July 2019, In order to supplement its new range of controlled-release fertilisers, Florikan formed a cooperation with EuroChem Group AG to purchase standard fertilisers and sell premium goods.

• In October 2014, By increasing their product offerings in the Latin American market with the acquisition of OFD Holdings, ara International expanded its worldwide reach.

Market Segment

This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Ammonium Nitrate Market based on the below-mentioned segments:

Global Ammonium Nitrate Market, By Product:

• High density
• Low density
• Solution

Global Ammonium Nitrate Market, By End-users:

• Agriculture
• Mining & quarrying
• Civil construction
• Others

Global Ammonium Nitrate Market, Regional Analysis:

North America

• US
• Canada
• Mexico

Europe

• Germany
• Uk
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific

South America

• Brazil
• Argentina
• Rest of South America

Middle East & Africa

• UAE
• Saudi Arabia
• Qatar
• South Africa
• Rest of Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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