The global ammonium nitrate market size is expected to showcase substantial growth during the forecast period. This growth is attributable to the increasing demand for high crop yield and the growing government focus for beautification of gardens across public places that will boost the adoption of advanced ammonium nitrate across the globe. This information is published by Fortune Business Insights in its upcoming report, titled, “Ammonium Nitrate Market Size, Share & Industry Analysis, By Application (Fertilizers, Explosives, Others), By End Use Industries (Agriculture, Mining, Defense, Other)Others and Regional Forecast, 2021-2028.
The effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
Ammonium nitrate is a type of crystalline, pure, and water-soluble powder that is formed by reaction between vaporized ammonia and nitric acid. It is extensively adopted in agricultural sector as a high-nitrogen fertilizer and in mining industries as explosives.
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Fortune Business Insights™ lists out a few of the renowned companies present in the ammonium nitrate market. They are as follows:
- Yara International ASA
- Orica Ltd
- Sigdo Koppers Group
- CF Industries Holdings, Inc.
- Incitec Pivot Ltd.
- Neochim Ad
- EuroChem Group AG
- OSTCHEM Holding Company
- Fertiberia SA
- Borealis AG
- San Corporation
- Abu Qir Fertilizers Co.
- Deepak Fertilisers and Petrochemicals
- CSBP Limited
What Does the Report Offer?
- Deep research into the upcoming market opportunities;
- Granular evaluation of the market drivers, trends, and restraints;
- Microscopic analysis of all individual market segments; and
- Thorough examination of the regional developments and competitive dynamics of the market.
What does the Report Provide?
The global market for wall-mounted acoustic panel report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth between 2019 and 2026.
Increasing Demand for Higher Crop Yield to Propel Growth
According to the Trade Promotion Council of India (TPCI), it is estimated that there is above 100% spike in the global food demand amid COVID-19 from destinations such as the U.S., Australia, Israel, Egypt, Europe, Palestine, and New Zealand. The growing demand for food is likely to propel the adoption of advanced ammonium nitrate-based fertilizers to ensure high quality yield. Moreover, several government initiatives to beautify the gardens at public places are contributing to the global ammonium nitrate market growth during the forecast period.
Asia-Pacific to Remain at Forefront; Presence of Large Manufacturing Countries to Aid Growth
Among all the regions, Asia-Pacific is expected to hold the highest position in the global ammonium nitrate market in the forthcoming years. This is attributable to the presence of large ammonium nitrate manufacturing countries such as China, Japan, Taiwan, and South Korea in the region.
The market in North America is anticipated to showcase considerable growth backed by the growing demand defense explosives in the region between 2019 and 2026.
By End Use Industries
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, Taiwan, India, South Korea, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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Key Questions Answered:
- What are the key demands and trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
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Facility Expansion by Major Companies to Expand Their Product Portfolio
The global market for ammonium nitrate is fragmented by the presence of major companies striving to maintain a stronghold by expanding their facilities to cater to the growing demand from industrial applications such as agriculture, mining, and others. In addition to this, the adoption of strategies such as merger and acquisition, collaboration, and partnership by other key players is anticipated to favor the growth of the market.
- August 2020 – India-based Salvo Explosives & Chemicals, purchased around 700 tons of ammonium nitrate in an e-auction. The company requires the chemical compound to manufacture explosives.
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