ammonium nitrate explosive market Report Overview
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The global ammonium nitrate explosive market size was USD 11560 million in 2022 and market is expected to reach USD 13250 million by 2028, exhibiting a compound annual growth rate (CAGR) of 2.3% during the forecast period.
Chemically, ammonium nitrate has the formula NH4NO3. Nitric acid and ammonium chloride make up its ingredients. Ammonium nitrate is colorless and has a white crystalline appearance at room temperature. When exposed to temperatures exceeding 32 degrees Celsius, these rhombohedral crystals transform into monoclinic crystals.
The market is projected to progress owing to the increasing demand for the product as a basis of nitrogen in fertilizers. Moreover, the ingredient is in high demand as an oxidizing agent in the fabrication of explosives, which is projected to fuel industrial development.
COVID-19 Impact: Lockdown Restrictions Hampering Market Progression
The market has been negatively impacted by the coronavirus pandemic. Demand from many end-use sectors had reduced, which therefore destroyed transactions. Reduced travel because of pandemic-related restrictions led to fewer maintenance needs, which also resulted in decreased demand in spare parts. This indirectly has an impact on many shape memory combinations, particularly in the flying area.
Latest Trends
"Increasing Demand from Mining Applications to Foster Market Development"
The market for ammonium nitrate is expected to rise at an exponential rate because of the rising production and demand for base metals, diamonds, manganese, and bauxite. Another factor that is anticipated to drive the market expansion for mining applications is the substantial investments made by mining corporations to search out new exploration areas for precious metals and minerals. Rising mining activity is anticipated to fuel market expansion over the coming years in countries around the world, including the U.S., Argentina, and India.
ammonium nitrate explosive market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Ammonium Nitrate Solution and Ammonium Nitrate Solid.
- By Application Analysis
Based on application, the market can be divided into Ammonium Nitrate Fertilizers and Ammonium Nitrate Explosive.
Driving Factors
"Rising Interest in Explosives to Drive Market Development "
A major factor driving the market is the growth in demand for explosives and manures. Since ammonium nitrate is more stable than urea, it is widely used as manure everywhere in the world. The expanding demand for explosives and black powder is another important factor driving the ammonium nitrate explosive industry. In any case, strict standards regarding the treatment of ammonium nitrate provided jointly by the US Environmental Protection Agency (EPA) are anticipated to pose a threat to the market in the years to come.
"Increasing Demand from Electronic Industry to Fuel Market Expansion "
The electronics sector makes use of ammonium nitrate (grade for electronics). To create high-quality nitrous oxide (N2O) for usage in the electronics sector, pure forms of ammonium nitrate are employed. Thus, there will be a greater demand for ammonium nitrate. VLSI (very large-scale integration) or ULSI requires nitrous oxide (ultra-large-scale integration). Thin-film oxides, LCD displays, and semiconductors are all made using it during the gas-phase chemical deposition process for items like computers, smart phones, robotics, cars, medical equipment, and space rockets.
Restraining Factors
"Ban on Chemicals to Impede Market Growth"
Since ammonium nitrate has a reputation for being moderately harmful, this is expected to significantly constrain the ammonium nitrate market during the anticipated time range. Over the course of the projection period, it is anticipated that the restriction on CAN fertilizers due to their illegal use as homemade bombs will further restrain ammonium nitrate explosive market growth.
ammonium nitrate explosive market Regional Insights
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"Presence of Prominent Players to Foster Growth in Europe"
During the forecast period, Europe is expected to hold a dominant ammonium nitrate explosive market share. A significant producer of nitrate fertilizer is Europe. The market in Europe should soon be stimulated by the presence of well-known producers like Yara International, Eurochem Group, and Helm AG. Europe is anticipated to drive demand and have a favorable impact on the exponential growth of the ammonium nitrate market over the projected period as a result of increased calcium ammonium nitrate utilization in chemical manufacturing sectors.
North America represents the largest regional market for the global ammonium nitrate explosive market. Due to rising demand for explosives used in defense and rising need for ammonium nitrate fuel oil, there is a huge demand for ammonium nitrate.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- EuroChem (Switzerland)
- Uralchem (Russia)
- OSTCHEM Holding (Austria)
- Borealis (Austria)
- Acron (Russia)
- Yara (Norway)
- SBU Azot (Ukraine)
- Incitec Pivot (Australia)
- Zaklady (Poland)
- Orica (Australia)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 11560 Million in 2022 |
| Market Size Value By | US$ 13250 Million by 2028 |
| Growth Rate | CAGR of 2.3% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Type and Application |
| Regional Scope | Global |
Frequently Asked Questions
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What value is the global ammonium nitrate explosive market expected to touch by 2028?
The global ammonium nitrate explosive market is expected to touch USD 13250 million by 2028.
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What CAGR is the ammonium nitrate explosive market expected to exhibit during 2022-2028?
The ammonium nitrate explosive market is expected to exhibit a CAGR of 2.3% over 2022-2028.
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Which are the driving factors of the ammonium nitrate explosive market?
Rising Interest in Explosives and demand from the electronic industry are the driving factors of the ammonium nitrate explosive market.
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Which are the top companies operating in the ammonium nitrate explosive market?
EuroChem, Uralchem, OSTCHEM Holding, Borealis, Acron, Yara, SBU Azot, Incitec Pivot, Zaklady, Orica are the top companies operating in the ammonium nitrate explosive market.
