Ceric Ammonium Nitrate Powder Market Size, Share, Growth, and Industry Analysis, By Type (Neutralization Method, Conversion Method), By Application (Fertilizer, Dynamite, Other) and Regional Forecast to 2031

Updated On: 22 April 2024

CERIC AMMONIUM NITRATE POWDER MARKET REPORT OVERVIEW

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The global ceric ammonium nitrate powder market size was USD 153.16 million in 2021 and the market is projected to touch USD 249.3 million by 2031, exhibiting a CAGR of 4.99% during the forecast period.

Ceric ammonium nitrate (CAN) is a chemical compound that finds application in various industries. It is often used as an oxidizing agent in organic synthesis, particularly in the oxidation of alcohols to carbonyl compounds. CAN is also utilized in some analytical chemistry techniques. CAN is primarily used in laboratory settings for oxidation reactions. It is also utilized in certain industries for specific chemical processes.

The pharmaceutical industry's increased demand for ceric ammonium nitrate powder is driving the market's growth pace. Rising demand for ceric ammonium nitrate in the production of electronic industry products such as liquid crystal displays (LCDs), expanding use of oxo-alcohols in the production of polyvinyl chloride (PVC), and the growth and expansion of various end user verticals in emerging economies will all have a direct and positive impact on the market's growth rate. Rising awareness of the advantages of ceric ammonium nitrate over alternatives, such as its low cost and non-toxicity, as well as an increase in the rate of industrialization, increased application in medical electronic devices, and a growing emphasis on technological advancements and modernization in manufacturing techniques, will further carve the market.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Many industries experienced disruptions in the supply chain due to lockdowns, travel restrictions, and labor shortages. This could have affected the production and distribution of ceric ammonium nitrate powder. The demand for certain chemicals may have shifted during the pandemic. For example, industries related to healthcare and sanitization may have seen increased demand, while others, like automotive or construction, may have faced challenges.  The overall economic downturn caused by the pandemic may have influenced investment decisions, capital expenditures, and market dynamics in the chemical industry. Governments around the world implemented various measures to contain the spread of the virus, and these measures may have affected the operation of chemical plants, transportation, and international trade.

LATEST TRENDS

"Increased Demand for Agriculture to Drive Market Growth"

Ammonium nitrate is commonly used as a nitrogen fertilizer in agriculture. The demand for fertilizers has been influenced by global population growth and the need for increased food production. Changes in agricultural practices and the adoption of advanced farming techniques can impact the demand for ceric ammonium nitrate powder. The production and use of ammonium nitrate are subject to strict regulations due to its potential use in the manufacturing of explosives. Any changes in regulations regarding the handling, storage, and distribution of ammonium nitrate can significantly impact the market. Innovations in production processes and technologies can affect the efficiency and cost-effectiveness of ammonium nitrate manufacturing. Companies that adopt more sustainable and environmentally friendly production methods may gain a competitive advantage.

CERIC AMMONIUM NITRATE POWDER MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into neutralization method, conversion method.

In neutralization method, the ceric ammonium nitrate is reduced to cerous ammonium nitrate. Ceric ammonium nitrate can also be converted into other cerium compounds or used in specific reactions.

By Application

Based on application the global market can be categorized into fertilizer, dynamite, other.

Ceric ammonium nitrate is utilized as a fertilizer, providing a source of nitrogen to plants. It is sometimes used in the production of explosives, including dynamite. It has some other uses such as it is used as a reagent in analytical chemistry for the determination of various compounds and as an oxidizing agent in certain chemical reactions.

DRIVING FACTORS

"Demand in Electronics and Semiconductors to Boost the Market"

One of the key driving factors in the global ceric ammonium nitrate powder market growth is the increasing demand in electronics and semiconductors. Ceric ammonium nitrate is commonly used in the electronics industry, especially in the manufacturing of semiconductors. The demand for electronic devices and semiconductors, driven by technological advancements, can significantly impact the ammonium nitrate market.  Increased research and development activities in various industries, such as materials science and pharmaceuticals, can drive the demand for ceric ammonium nitrate. It is often used as a catalyst in organic synthesis and other chemical processes. 

"Applications in Organic Synthesis to Expand the Market"

Ceric ammonium nitrate powder is commonly used as an oxidizing agent in organic synthesis. Its role in facilitating specific chemical reactions can drive demand, especially in industries involved in the production of fine chemicals and pharmaceuticals. The pharmaceutical sector relies on various chemicals for drug synthesis and manufacturing. If the pharmaceutical industry is expanding, it can positively impact the market.  Ceric ammonium nitrate powder is used as a reagent in analytical chemistry, particularly for determining the presence of alcohols and double bonds. Analytical laboratories and testing facilities contribute to the demand for this compound.

RESTRAINING FACTOR

"Regulatory Compliance and Price Fluctuations to Impede Market Growth"

Stringent regulations regarding the production, handling, and transportation of chemicals can pose challenges for manufacturers. Compliance with environmental and safety standards may require additional investments in technology and processes. Fluctuations in the prices of raw materials or energy can impact the cost of production for ceric ammonium nitrate powder. If the production cost becomes too high, it may affect the competitiveness of the product in the market.

CERIC AMMONIUM NITRATE POWDER MARKET REGIONAL INSIGHTS

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"North America to Dominate in the Market due to Presence of a Large Consumer Base"

North America has emerged as the most dominant region in the global ceric ammonium nitrate powder market share due to several factors. The region has a dynamic and diversified industrial environment, with widespread use of ceric ammonium nitrate in a variety of industries. Its applications include chemical research, catalysis, and the electronics sector. Furthermore, the area places a high value on R&D activities, notably in the disciplines of materials science, medicines, and electronics. The versatility of ammonium nitrate as a reagent in these industries drives its demand. Furthermore, the region's strong quality standards and regulations assure a need for high-quality laboratory chemicals, which supports market growth.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The ceric ammonium nitrate powder market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in ceric ammonium nitrate powders, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• A.B. Enterprises (India)
• Shanghai Renyoung Pharmaceutical (China)
• ProChem (U.S.)
• Blue Line Corporation (U.S.)
• Sigma-Aldrich Corporation (U.S.)
• Henan CoreyChem (China)
• Treibacher Industrie (Austria)            

INDUSTRIAL DEVELOPMENT

• December 2021: Deepak Fertilisers and Petrochemicals Corporation Limited, India's major producer of agricultural chemicals, crop nutrients, and fertilisers, announced the opening of Rs 2200 Cr technological ammonium nitrate factory in Odisha state in December 2021. With the establishment of the facility, the firm will become a major supplier of ammonium nitrate in India's eastern area.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.