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Ammonium nitrate is salt of ammonia and nitric acid. It is a colorless and odorless chemical compound. Ammonium nitrate is commercially available in a crystalline solid form and it can be processed into flakes for specific applications. It is soluble in organic solvents such as water and alcohols. Ammonium nitrate is generally used to make explosives, fertilizers, and as a nutrient in the production of antibiotics and yeast. Ammonium nitrate is hygroscopic in nature and it readily absorbs moisture from air. Ammonium nitrate is generally stored in an air-conditioned warehouse or in sealed bags. It is a prominent fertilizer as the nitrate form in the compound moves readily along with soil water to the plant roots. Moreover, ammonium nitrate is utilized in food preservation, as it can make an instant cold pack. Natural and synthetic are key varieties of the product. The naturally occurring, mineral nitrate is found in the Atacama Desert in Chile. Almost all ammonium nitrate used in the market at present is synthetically manufactured by using Haber’s Process followed by Ostwald Process.

Increase in the demand for fertilizers and explosives is a major driver of the market. Ammonium nitrate is more stable than urea and it is highly used as a fertilizer throughout the globe. Another major driver of the ammonium nitrate market is the rising demand for explosives and gunpowder. However, strict regulations about handling of ammonium nitrate issued jointly by the U.S. Environmental Protection Agency (EPA), Occupational Health and Safety (OSHA), and the Bureau of Alcohol, Tobacco and Firearms (ATF) are projected to pose a threat to the market in the next few years. Ammonium nitrate has been observed as moderately hazardous and this is expected to act as a major restraint of the ammonium nitrate market during the forecast period.

Global Ammonium Nitrate Market: Segmentation

The global ammonium nitrate market can be segmented based on form, application, and region. In terms of form, the ammonium nitrate market can be classified into granular form and powder form. The granular form segment is projected to expand at a rapid pace during the forecast period.  Granular ammonium nitrate acts as a blasting agent and it has heat absorption properties, which plays a highly important role in the fertilizer & explosive manufacturing industry. This is estimated to drive the demand for granular ammonium nitrate during the forecast period.

In terms of application, the global ammonium nitrate market can be classified into fertilizers, explosives, and medicines. The fertilizer segment is projected to expand at a rapid pace during the forecast period. Low nitrogen emissions and superior stability offered by ammonium nitrate in crop protection along with increasing demand from the agriculture industry for improving nitrogen content of the soil are expected to drive the demand for ammonium nitrate during the forecast period.

Ammonium nitrate is employed for traction across the sports industry for first-aid treatment of injuries. This is because the product contains heat absorption and pain alleviation properties. The medical industry is rising need for manufacturing nitrous oxide benefitting medications. Also, ammonium nitrate is employed to make gunpowder and explosives.

Global Ammonium Nitrate Market: Regional Outlook

In terms of region, the global ammonium nitrate market can be segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Asia Pacific is expected to remain the leading region of the global market during the forecast period. Countries in Asia Pacific are mostly agriculture dependent and this factor is likely to drive the demand for ammonium nitrate in the fertilizers sector in the region. The increasing population, especially in India and China, creates high demand for food, followed by focus on modern farming activities such as hydroponic and rotary crops and agroforestry practices. This is a major factor expected to drive the demand for ammonium nitrate during the forecast period. The market in developed regions such as North America and Europe is expected to witness moderate growth in the next few years, owing to shift in focus on organic fertilizers in these regions.

Additionally, the rising demand for mining explosives in China and India is estimated to propel the ammonium nitrate market in these countries. The ammonium nitrate market in South Africa is expected to witness substantial growth in the near future, with growing presence of quarry operations and mines in the country. High detonation velocity and water resistance properties augment usage of ammonium nitrate in the mining industry in South Africa. Rapidly expanding metal mining base is anticipated to create lucrative opportunities for manufacturers of ammonium nitrate in South Africa in the next few years.

Global Ammonium Nitrate Market: Key Players

The global ammonium nitrate market is fragmented. A large number of companies operate at the global and regional levels. Major companies include Orica, Enaex S.A, CF Industries Holdings, Inc., San Corporation, OSTCHEM Holding Company, EuroChem Group AG, Austin Powder International, Abu Qir Fertilizers Co, Neochim PLC, Fertiberia SA, Uralchem JSC, Vale Fertilizantes, and Dorogobuzh JSC.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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Ammonium Nitrate Market