Global Ammonium Nitrate Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “Ammonium Nitrate Market By Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the ammonium nitrate market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Europe dominates the ammonium nitrate market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.
The demand for good quality crops is increasing considerably as people are aware about the health which boosts the consumption of fertilizers in agriculture industry. The growing demand for industrial explosives and blasting agents is expected to drive the ammonium nitrate market in upcoming years. The rise in mining activities in various countries across the globe for bauxite, manganese and diamonds fuels up the overall market growth for this market.
However, rigid government regulations associated to transportation, storage, handling of ammonium nitrate detain the manufacturer to grow more. As well as substitution available to ammonium nitrate like urea hinder the production process. Decreasing the misuse of ammonium nitrate as an explosive can be the major challenge for the government which indirectly affect this market.
Eastern & Western European countries are leading the ammonium nitrate market due to highest rate of consumption. However, Central Europe, U.S., China, South America and Africa are started increasing compare to previous years. Also Asia Pacific region shows highest growth rate of consumption of fertilizers. Where, China is leading the market share in AAPAC region in terms of value and volume. The rising population in developing economies will result in increased nitrous oxide demand in the pharmaceutical industries.
Key Question Answered:
• What will be the market size in 2025 and at what rate it will grow?
• What trends, barriers, challenges are influencing its growth?
• Who are the major key players in global ammonium nitrate market and what are their strategies?
• Which vertical industry is expected to show major growth?
• What segment and region will lead the market and why?
The major companies profiled in the report include: Orica, Incitec Pivot Limited, Neochim PLC, URALCHEM Holding PLC, San Corporation, CF Industries Holdings, Inc., EuroChem Group AG, Austin Powder Company, RCF Ltd., OSTCHEM Holding, Enaex S.A., Abu Qir Fertilizers and Chemicals Company (AFC)."
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