질산암모늄 세계 시장 규모는 2022년 174억 6,000만 달러로 평가되며, 2023년 181억 달러에서 2031년 288억 7,000만 달러로 성장할 것으로 예상되며, 예측 기간(2024-2031년) 동안 5.55%의 CAGR로 성장할 것으로 예상됩니다.
질산암모늄은 암모늄 이온과 질산 이온으로 구성된 백색의 결정질 화학제품으로 여러 분야에서 중요한 역할을 하고 있습니다. 풍부한 질소 함량으로 인해 농업에 필수적인 바이오 비료로 자리매김하고 있으며, 작물 수확량 향상을 위한 질소가 풍부한 비료에 대한 수요가 증가하면서 성장을 주도하고 있습니다. 또한, 고온에서 분해되는 특성으로 인해 광산업에서 폭발물 제조에 필수적인 성분으로 사용되고 있습니다. 또한, 흡습성이 뛰어나 식품 보존에도 널리 사용되고 있습니다. 비료의 질소 공급원에 대한 수요가 지속적으로 증가하고 화약의 산업적 용도가 확대됨에 따라 질산암모늄 시장은 농업과 산업 분야 모두에서 다면적인 유용성을 반영하여 크게 확대될 태세를 갖추고 있습니다.
Global Ammonium Nitrate Market size was valued at USD 17.46 billion in 2022 and is poised to grow from USD 18.1 billion in 2023 to USD 28.87 billion by 2031, growing at a CAGR of 5.55% in the forecast period (2024-2031).
Ammonium nitrate, a white crystalline chemical composed of ammonium and nitrate ions, is emerging as a key player in multiple sectors. Its rich nitrogen content positions it as an essential biofertilizer in agriculture, driving growth due to the rising need for nitrogen-rich fertilizers for enhanced crop yields. Furthermore, its capability to decompose at high temperatures makes it a vital component in explosive manufacturing within the mining industry. The substance's excellent hygroscopic properties also contribute to its widespread use in food preservation. As the demand for nitrogen sources in fertilizers continues to escalate and industrial applications in explosives grow, the ammonium nitrate market is poised for significant expansion, reflecting a multifaceted utility across both agricultural and industrial domains.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Ammonium Nitrate market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Ammonium Nitrate Market Segmental Analysis
Global Ammonium Nitrate Market is segmented by Product, by Application, by End Use and by Region. Based on Product, the market is segmented into High density, Low density, Solution. Based on Application, the market is segmented into Fertilizers, Explosives, Others. Based on End Use, the market is segmented into Agriculture, Mining & quarrying, Civil construction, Others Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Driver of the Global Ammonium Nitrate Market
The global ammonium nitrate market is witnessing growth driven primarily by escalating defense expenditures worldwide. Ammonium nitrate, a crucial ingredient in the production of various explosives, sees demand closely linked to military budgets. Furthermore, the rapid increase in the global population, particularly in low- and middle-income countries, amplifies the need for agricultural improvement. As agricultural output rises to meet the demands of a growing populace, the use of ammonium nitrate as a fertilizer has surged, further elevating its market demand. This combination of factors-military spending and agricultural growth-positions ammonium nitrate as a key player in multiple sectors.
Restraints in the Global Ammonium Nitrate Market
The global ammonium nitrate market faces significant restraints primarily due to stringent regulatory measures imposed by governments regarding its management, storage, transportation, and utilization. Considered a hazardous chemical, ammonium nitrate's association with explosives-specifically as a key ingredient in ANFO, commonly used in improvised explosive devices-further complicates its commercial landscape. Many countries have enacted laws prohibiting its use in consumer products to prevent potential misuse, which poses a substantial challenge to market expansion. As a result, these strict regulations hinder the growth of the ammonium nitrate market, creating obstacles for manufacturers and suppliers alike.
Market Trends of the Global Ammonium Nitrate Market
The global ammonium nitrate market is poised for significant growth driven by the increasing demand for high-efficiency fertilizers in the agricultural sector. As farmers seek to enhance crop yield and resilience against pests, ammonium nitrate's role as a vital nitrogen source becomes more pronounced. Its widespread use among vegetable growers, coupled with the trend towards solid formulations due to moisture absorption challenges in mixed fertilizers, positions ammonium nitrate favorably. Furthermore, the expansion of agricultural activities and a growing population necessitate sustained fertilizer application, reinforcing the positive trajectory of the market. Stakeholders anticipate robust growth in demand for solid ammonium nitrate throughout the coming years.