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Ammonium Nitrate Market 2022 Current Trends, Technology Development 2027

The ammonium nitrate market is anticipated to grow exponentially by 2027 owing to surging demand for food and other agricultural goods worldwide.

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Ammonium Nitrate Market 2022 Current Trends, Technology Development 2027

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  1. Ammonium Nitrate Market 2022 Current Trends, Technology Development, Future Investment and Forecast 2027 Fuel Cell Market size worth $25.5bn by 2024

  2. KeyInsights from Ammonium Nitrate Market: • The ammonium nitrate market is anticipated to grow exponentially by 2027 owing to surging demand for food and other agricultural goods worldwide. • Ammonium nitrate is a white crystalline nitrate salt that has various industrial applications ranging from fertilizers, pyrotechnics, and insecticides to explosives and propellants. Notably, R&D activities undertaken by prominent companies have fueled market adoption.

  3. Continued... • For instance, in February 2020, Orica Ltd., a leading explosives manufacturer, announced the acquisition of Exsa, a Peru-based explosives company. The acquisition enabled Orica to fortify its market presence and expand its business by leveraging Exsa's strong position in the Latin American region. Additionally, the acquisition of Exsa's Initiating Systems (IS) manufacturing facility improved Orica's production capacity. • Similarly, in November 2019, ENAEX, S.A., a Sigdo Koppers Group subsidiary, inked a partnership agreement with Sasol Limited, a major chemical and energy firm, to become a controlling partner in the latter's explosives division. The agreement enhanced ENAEX's position in the explosives market.

  4. Browse key industry insights spread across 250 pages with 303 market data tables & figures from the report, “Ammonium Nitrate Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/ammonium-nitrate-market Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/818

  5. Continued... • To cite another instance, in September 2021, Yara International, a key agricultural products manufacturer, announced the acquisition of Ecolan Oy, a Finland-based recycled fertilizers producer. The deal enabled Yara to expand its organic farming business segment in Europe and integrate Ecolan's expertise to develop high quality recycled fertilizers for agriculture. The combination of Yara's deep crop nutrition solutions and digital tools with Ecolan's effective circular economy facilitated the expansion of Yara's product offerings. • The ammonium nitrate market has been bifurcated on the basis of end-user, product, and region. In terms of end-user, the market has further been classified into civil construction, agriculture, mining & quarrying, and others.

  6. Continued... • The others end-user segment is expected to hold the least market share by 2027. Other end-users of ammonium nitrate include pyrotechnics, defense, and so on. Ammonium nitrate is used in military applications to manufacture explosives, such as the daisy cutter bomb, and it is also utilized as a component of amatol. Furthermore, it finds extensive usage in rocket propellants as an oxidizing agent, which is set to fuel segmental development over the review period. • From the regional point of view, the Latin America ammonium nitrate market is projected to witness steady growth at a CAGR of approximately 2% over the forecast period. Moreover, rising prevalence of mining and quarrying activities in the LATAM region is likely to propel market adoption in the coming years.

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