2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

Which Major Market Drivers Are Expected to Boost the Growth Potential of the Ammonium Nitrate Market?

Construction activities on the rise are projected to fuel the advancement of the ammonium nitrate market. The upswing in construction involves the creation of buildings, infrastructures, and various other design structures. This surge is attributable to brisk urbanization, progression of infrastructure, and a concentration on precision in construction assignments. The role of ammonium nitrate in these projects is significant because of its ability to efficiently break down rigid materials, making large level excavations and demolitions feasible. It is meticulously employed to ensure the safety of the workforce as well as maintain the environmental balance. For example, in July 2024, the US Census Bureau, a government agency of the United States, indicated that the construction operations’ value escalated from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Hence, this boom in construction activities contributes to the growth of the ammonium nitrate market.

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#How Will the CAGR of the Ammonium Nitrate Market Influence Its Overall Growth by 2034?

In recent years, the ammonium nitrate market has seen substantial growth. The market size is expected to increase from $19.4 billion in 2024 to $20.56 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.0%. The upward trend in the historic period can be linked to several factors. These include the boost in crop production owing to food security concerns, an escalating demand for explosives in sectors like mining and construction, a heightened use of ammonium nitrate in mining and quarrying operations, a rising demand for this compound in the defense sector, and an increased usage of ammonium nitrate in the pharmaceutical industry.

The market for ammonium nitrate is projected to witness robust expansion in the coming years, surging to $25.61 billion in 2029 with a compound annual growth rate of 5.6%. This escalation during the prediction period can be credited to the increasing need for ammonium nitrate-fuel oil, rising demand for fertilizers in the agricultural field, the upsurge in the application of ammonium nitrate in farming, the high percentage of nitrogen in ammonium nitrate, as well as enhanced crop yield and superior crop production. Key market trends for the forecast period will likely include the need for coated ammonium nitrate granules, introduction of new formulations for superior efficiency and safety, inventive production approaches for better product quality, high-nitrogen fertilizers for boosting agricultural productivity, and new product introductions and collaborations.

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What Are the Key Market Innovations in theAmmonium Nitrate Market Over the Coming Years?

Leading businesses active in the ammonium nitrate market are prioritizing the creation of innovative products, such as ammonium nitrate with a low carbon footprint, to attain their sustainability objectives. Low carbon footprint ammonium nitrate is produced using avant-garde technologies and sustainable approaches, which drastically reduce the greenhouse gas emissions compared to the traditional production methods. For illustration, in September 2023, Fertiberia, which is a chemical and fertilizer production firm based in Spain, released the first-ever low-carbon technical ammonium nitrate produced with green hydrogen. This unique low-carbon TAN, manufactured in Fertiberia’s factory in Puertollano (Ciudad Real) and used in the African, European, and Middle Eastern markets for mining and civil infrastructure, replaces natural gas with renewable hydrogen.

Who Are the Top Companies Driving Innovation and Growth in theAmmonium Nitrate Market?

Major companies operating in the ammonium nitrate market are Nutrien Ltd., Yara International ASA, Abu Qir Fertilizers and Chemicals Company, Sasol Ltd., Borealis AG, Potash Corporation of Saskatchewan Inc., CF Industries Holdings, Inc., Ube Industries Ltd., EuroChem Group AG, Orica Limited, Incitec Pivot Ltd., Chambal Fertilisers and Chemicals Ltd., Dyno Nobel, Austin Powder Company, Enaex, OSTCHEM Holding AG, URALCHEM JSC, Fertiberia S.A., Neochim Plc, JSC Belaruskali, Machhar Industries Limited, GPN GmbH, Lovochemie A.S., San Corporation, Vijay Gas Industry Pvt. Ltd.

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Which Key Market Segments Comprise the Ammonium Nitrate Market and Drive Its Revenue Growth?

The ammonium nitrate market covered in this report is segmented –

1) By Product Type: High Density, Low Density, Other Product Types

2) By Application: Fertilizers, Explosives, Other Applications

3) By End-User Industry: Agriculture, Mining, Defense, Other End-User Industries

Subsegments:

1) By High Density: High-Density Ammonium Nitrate For Industrial Explosives, High-Density Ammonium Nitrate For Mining And Quarrying, High-Density Ammonium Nitrate For Agricultural Fertilizers, High-Density Ammonium Nitrate For Demolition And Construction

2) By Low Density: Low-Density Ammonium Nitrate For Fertilizer Production, Low-Density Ammonium Nitrate For Explosives In Agriculture, Low-Density Ammonium Nitrate For Controlled-Release Fertilizers

3) By Other Product Types: Ammonium Nitrate Solution (Liquid Form), Ammonium Nitrate With Additives (Prilled With Anti-caking Agents), Specialty Ammonium Nitrate For Specific Applications (Automotive Or Military Use)

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Which Regions Are Emerging as Leaders in the Ammonium Nitrate Market?

North America was the largest region in the ammonium nitrate market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ammonium nitrate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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