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Ammonium Nitrate Market Size, Research Report, Analysis and Forecasts to 2027

A report from Global Market Insights Inc. suggests that the overall ammonium nitrate market size would exceed beyond USD 20 billion by 2027.

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Ammonium Nitrate Market Size, Research Report, Analysis and Forecasts to 2027

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  1. Ammonium Nitrate Market Size, Research Report, Analysis and Forecasts to 2027 Fuel Cell Market size worth $25.5bn by 2024

  2. KeyInsights from Ammonium Nitrate Market : • A report from Global Market Insights Inc. suggests that the overall ammonium nitrate market size would exceed beyond USD 20 billion by 2027. • Ammonium nitrate boasts of vivid applications across industries encompassing fertilizers, civil construction, and mining and quarrying for a plethora of uses. • Modern-day agriculturists face two major issues- how to harvest enough food to feed the meteorically rising population and reduce the environmental damage associated with extensive agriculture.

  3. Continued... • “The global population is anticipated to exceed 10 billion by 2050, raising the overall food production need by 70% over 2005/07 to 2050.”- An FAO report suggests. • Ammonium nitrate fertilizers are quite effective and known to produce less GHG emissions than other fertilizers. Half of the nitrogen in the compound is quick-release nitrogen, which is available to the plants, while the other half is slow-release nitrogen to deliver an efficient balance in plant nutrition. • The Asia Pacific is likely to stand as an eminent revenue ground for the ammonium nitrate market in the years to come. China and India are projected to be some of the leading contributors to the prolific market progression.

  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... • The Chinese subcontinent is rapidly evolving as one of the leading mining countries in the world, particularly for rare-earth commodities. In 2019, the Chinese economy produced nearly 85% of the world’s rare earth oxides and about 90% of rare-earth metals, permanent magnets, and alloys. In addition, an upsurge in exploration activities in the mining and quarrying and oil and gas sector in the country would further support the demand spurt for ammonium nitrate for reducing explosives. • Another regional hotspot, India, is making continuous strides in terms of revenue and sales in the ammonium nitrate industry throughout 2021-2027. Reason? The escalating food grain production and developing agriculture industry in the country.

  6. Continued... • According to the National Investment Promotion and Facilitation Agency, the total foodgrain production in India from 2020 to 2021 was estimated at a record 308.65 million tons, about 11.15 million tons more than that during the 2019-2020. It is imperative to note that the sector is a primary source of livelihood for approximately 58% of the country’s population. • Impelled by such statistics, the India ammonium nitrate market is slated to grow considerably over the forecast time frame. Smartchem Technologies, an Indian subsidiary of Deepak Fertilizers and Petrochemicals Corporation, in 2021 announced the launch of a USD 283 million technical ammonium nitrate plant in the state of Odisha. The unit will have an annual capacity of 377 kilotons and is scheduled for commissioning by August 2024.

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