The Ammonium Nitrate Market Is Slated to Reach $19 Billion by 2026, Says Global Market Insights Inc.
SELBYVILLE, Del., Dec. 10, 2020 /PRNewswire/ --Based on Global Market Insights Inc.'sreport, the global Ammonium Nitrate Market was estimated at $17 billion in 2019 and is slated to surpass $19 billion by 2026, registering a CAGR of 3.8% from 2020 to 2026.
SELBYVILLE, Del., Dec. 10, 2020 /PRNewswire/ -- Based on Global Market Insights Inc.'s report, the global Ammonium Nitrate Market was estimated at $17 billion in 2019 and is slated to surpass $19 billion by 2026, registering a CAGR of 3.8% from 2020 to 2026. The report gives a complete analysis of the top winning strategies, drivers & opportunities, market estimations as well as size, top investment avenues, wavering industry trends, and competitive scenarios.
The ammonium nitrate solution in the segment is likely to witness a 3.5% CAGR by 2026 in ammonium nitrate market share, owing to its cost-effective nature, and convenience in quality, and range of temperature over long-distance transportation. The product is suitable to produce emulsion matrix and fertilizers. ANS provides strict process control, which results in excellent purity and pH. These products can't be stored for a longer period of time due to their tendency to absorb moisture from the air, which makes it suitable for making solutions for the fertigation of foliar spray. Rising fertilizer demand will surge their penetration in the market over the upcoming years.
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Civil construction will witness over 1.5% in ammonium nitrate market volume from 2020 to 2026. The growth in the segment can be attributed to its use as an explosive for various applications such as road-making, excavation for railways, secondary blasting, delay detonators, underground development, tunneling, etc. The product is mainly used in the segment due to its lower cost. Rising infrastructure activities across the world will surge market growth in the segment over the forecast period.
The European ammonium nitrate market is foreseen to be around a 2.5% CAGR from 2020 to 2026, owing to rising mining & quarrying and civil construction industries across the region. Rising urbanization and construction activities in major countries of Eastern Europe including Ukraine, Russia, and Turkey are likely to drive the explosives demand in the region. For example, Russia has many ongoing infrastructure projects, such as the Crimean bridge, Siberia Power Gas Pipeline, several highways, etc., that are in the completion stage.
The region also foresees considerable growth in the mining industry, owing to increased investments by major countries in the sector. For instance, Turkey has aimed for an annual investment of USD 10 billion for the energy & mining sector by 2023.
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Leading market players:
Notable market players analyzed in the ammonium nitrate industry report include Orica Limited, Yara International, Enaex S.A, CF Industries Holdings, EuroChem Group AG, Austin Powder International, OSTCHEM Holding Company, Fertiberia SA, San Corporation, and CSBP Limited. Product manufacturers are primarily focusing on geographic expansion, merger, and acquisition strategies in the long run.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision-making.
GMIPulse, our business analytics platform, offers an online, interactive option for exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level, and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Ammonium Nitrate Market Statistics - 2026
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SOURCE Global Market Insights, Inc.
