Introduction
Ammoniumnitrate is salt of ammonia and nitric acid. It is a colorless and odorlesschemical compound. Ammonium nitrate is commercially available in a crystallinesolid form and it can be processed into flakes for specific applications. It issoluble in organic solvents such as water and alcohols. Ammonium nitrate isgenerally used to make explosives, fertilizers, and as a nutrient in theproduction of antibiotics and yeast. Ammonium nitrate is hygroscopic in natureand it readily absorbs moisture from air. Ammonium nitrate is generally storedin an air-conditioned warehouse or in sealed bags. It is a prominent fertilizeras the nitrate form in the compound moves readily along with soil water to theplant roots. Moreover, ammonium nitrate is utilized in food preservation, as itcan make an instant cold pack. Natural and synthetic are key varieties of theproduct. The naturally occurring, mineral nitrate is found in the AtacamaDesert in Chile. Almost all ammonium nitrate used in the market at present issynthetically manufactured by using Haber’s Process followed by OstwaldProcess.
Increasein 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 fertilizerthroughout the globe. Another major driver of the ammonium nitrate market isthe rising demand for explosives and gunpowder. However, strict regulationsabout handling of ammonium nitrate issued jointly by the U.S. EnvironmentalProtection Agency (EPA), Occupational Health and Safety (OSHA), and the Bureauof Alcohol, Tobacco and Firearms (ATF) are projected to pose a threat to themarket in the next few years. Ammonium nitrate has been observed as moderatelyhazardous and this is expected to act as a major restraint of the ammoniumnitrate market during the forecast period.
Global Ammonium Nitrate Market: Segmentation
The globalammonium nitrate market can be segmented based on form, application, andregion. In terms of form, the ammonium nitrate market can be classified intogranular form and powder form. The granular form segment is projected to expandat a rapid pace during the forecast period. Granular ammonium nitrateacts as a blasting agent and it has heat absorption properties, which plays ahighly important role in the fertilizer & explosive manufacturing industry.This is estimated to drive the demand for granular ammonium nitrate during theforecast period.
In termsof application, the global ammonium nitrate market can be classified intofertilizers, explosives, and medicines. The fertilizer segment is projected toexpand at a rapid pace during the forecast period. Low nitrogen emissions andsuperior stability offered by ammonium nitrate in crop protection along withincreasing demand from the agriculture industry for improving nitrogen contentof the soil are expected to drive the demand for ammonium nitrate during theforecast period.
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Ammoniumnitrate is employed for traction across the sports industry for first-aidtreatment of injuries. This is because the product contains heat absorption andpain alleviation properties. The medical industry is rising need formanufacturing nitrous oxide benefitting medications. Also, ammonium nitrate isemployed to make gunpowder and explosives.
Global Ammonium Nitrate Market: Regional Outlook
In termsof region, the global ammonium nitrate market can be segmented into AsiaPacific, Europe, Latin America, North America, and Middle East & Africa.Asia Pacific is expected to remain the leading region of the global marketduring the forecast period. Countries in Asia Pacific are mostly agriculturedependent and this factor is likely to drive the demand for ammonium nitrate inthe fertilizers sector in the region. The increasing population, especially inIndia and China, creates high demand for food, followed by focus on modernfarming activities such as hydroponic and rotary crops and agroforestrypractices. This is a major factor expected to drive the demand for ammoniumnitrate during the forecast period. The market in developed regions such as NorthAmerica and Europe is expected to witness moderate growth in the next fewyears, owing to shift in focus on organic fertilizers in these regions.
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Additionally,the rising demand for mining explosives in China and India is estimated topropel the ammonium nitrate market in these countries. The ammonium nitratemarket in South Africa is expected to witness substantial growth in the nearfuture, with growing presence of quarry operations and mines in the country.High detonation velocity and water resistance properties augment usage ofammonium nitrate in the mining industry in South Africa. Rapidly expandingmetal mining base is anticipated to create lucrative opportunities formanufacturers of ammonium nitrate in South Africa in the next few years.
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Global Ammonium Nitrate Market: Key Players
The globalammonium nitrate market is fragmented. A large number of companies operate atthe global and regional levels. Major companies include Orica, Enaex S.A, CFIndustries Holdings, Inc., San Corporation, OSTCHEM Holding Company, EuroChemGroup AG, Austin Powder International, Abu Qir Fertilizers Co, Neochim PLC,Fertiberia SA, Uralchem JSC, Vale Fertilizantes, and Dorogobuzh JSC.
