The ammonium nitrate market size has grown steadily in recent years. It will grow from $19.4 billion in 2024 to $20.28 billion in 2025 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to increased crop production for food security, rise in demand for explosives in mining and construction, increased use of ammonium nitrate in mining and quarrying, increased demand for ammonium nitrate in defense, and increased utilization of ammonium nitrate in pharmaceuticals.
The ammonium nitrate market size is expected to see steady growth in the next few years. It will grow to $24.62 billion in 2029 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to rising demand for ammonium nitrate-fuel oil, increasing demand for fertilizers in agricultural sector, growing utilization of ammonium nitrate in agriculture, high nitrogen content in ammonium nitrate, growing crop yield and high-quality crop production. Major trends in the forecast period include demand for coated ammonium nitrate granules, new formulations for enhanced efficiency and safety, innovative production methods for improved product quality, high-nitrogen fertilizers for agricultural productivity, and product launches and partnerships.
The forecast of 5% growth over the next five years reflects a modest reduction of 0.7% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US by disrupting imports of explosive-grade ammonium nitrate from Ukraine and Egypt, increasing costs for mining and construction industries. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The growing construction activities are expected to drive the expansion of the ammonium nitrate market in the future. Construction activities encompass the physical development of buildings, infrastructure, and various other structures. The rise in construction activities is attributed to rapid urbanization, infrastructure development, and an emphasis on efficiency and precision in building projects. Ammonium nitrate plays a vital role in construction due to its effectiveness in breaking hard materials and supporting large-scale excavation and demolition operations. Its use is carefully controlled to ensure worker safety and protect the surrounding environment. For example, in July 2024, the US Census Bureau reported that the value of construction operations increased from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. As a result, the growth in construction activities is fueling the demand for ammonium nitrate.
Leading companies in the ammonium nitrate market are concentrating on innovation, such as developing low-carbon-footprint ammonium nitrate to align with sustainability objectives. This type of ammonium nitrate is manufactured using advanced technologies and sustainable practices to significantly reduce greenhouse gas emissions compared to conventional methods. For example, in September 2023, Fertiberia, a Spain-based chemicals manufacturer, introduced the world's first low-carbon technical ammonium nitrate produced using green hydrogen at its plant in Puertollano (Ciudad Real). This product targets mining and civil infrastructure markets across Europe, the Middle East, and Africa, showcasing its production from renewable hydrogen, replacing natural gas.
In April 2022, Casale, a Swiss fertilizer company, acquired Green Granulation Ltd. This acquisition strengthens Casale's footprint in the Chinese market and enhances its offerings in nitrogen-based fertilizers. Green Granulation Ltd. is a Hong Kong-based company that manufactures urea and ammonium nitrate (AN), high-density ammonium nitrate (HDAN), and calcium ammonium nitrate (CAN) granulation systems.
Ammonium nitrate (NH₄NO₃) is composed of ammonium and nitrate ions, forming a white crystalline solid that is highly soluble in water and remains solid at room temperature. It serves primarily as a high-nitrogen fertilizer in agriculture, providing essential nutrients to plants.
Ammonium nitrate is categorized into different types including high density, low density, and others. High-density ammonium nitrate (HDAN) specifically possesses a greater density compared to standard ammonium nitrate. It finds applications in fertilizers, explosives, and other uses, catering to various industries such as agriculture, mining, defense, among others.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The escalating U.S. tariffs and rising trade tensions in spring 2025 are expected to significantly affect the chemicals sector, which is facing a disproportionate impact - particularly from tariffs on petrochemicals and intermediates, where affordable domestic alternatives are limited. Specialty chemical producers, who rely heavily on Chinese raw materials, are encountering production disruptions. Meanwhile, fertilizer manufacturers are seeing their profit margins squeezed due to tariffs on phosphate imports. In response, companies are increasing investments in R&D for bio-based alternatives, forming procurement alliances to strengthen purchasing power, and relocating production to tariff-neutral countries like Saudi Arabia.
The ammonium nitrate market research report is one of a series of new reports that provides ammonium nitrate market statistics, including ammonium nitrate industry global market size, regional shares, competitors with an ammonium nitrate market share, detailed ammonium nitrate market segments, market trends and opportunities, and any further data you may need to thrive in the ammonium nitrate industry. This ammonium nitrate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Major companies operating in the ammonium nitrate market are Nutrien Ltd., Yara International ASA, Abu Qir Fertilizers and Chemicals Company, Sasol Ltd., Borealis AG, Potash Corporation of Saskatchewan Inc., CF Industries Holdings, Inc., Ube Industries Ltd., EuroChem Group AG, Orica Limited, Incitec Pivot Ltd., Chambal Fertilisers and Chemicals Ltd., Dyno Nobel, Austin Powder Company, Enaex, OSTCHEM Holding AG, URALCHEM JSC, Fertiberia S.A., Neochim Plc, JSC Belaruskali, Machhar Industries Limited, GPN GmbH, Lovochemie A.S., San Corporation, Vijay Gas Industry Pvt. Ltd.
North America was the largest region in the ammonium nitrate market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ammonium nitrate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the ammonium nitrate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The ammonium nitrate market consists of sales of high-density ammonium nitrate, porous-filled ammonium nitrate, and low-density prilled ammonium nitrate. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
The ammonium nitrate market size is expected to see steady growth in the next few years. It will grow to $24.62 billion in 2029 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to rising demand for ammonium nitrate-fuel oil, increasing demand for fertilizers in agricultural sector, growing utilization of ammonium nitrate in agriculture, high nitrogen content in ammonium nitrate, growing crop yield and high-quality crop production. Major trends in the forecast period include demand for coated ammonium nitrate granules, new formulations for enhanced efficiency and safety, innovative production methods for improved product quality, high-nitrogen fertilizers for agricultural productivity, and product launches and partnerships.
The forecast of 5% growth over the next five years reflects a modest reduction of 0.7% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US by disrupting imports of explosive-grade ammonium nitrate from Ukraine and Egypt, increasing costs for mining and construction industries. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The growing construction activities are expected to drive the expansion of the ammonium nitrate market in the future. Construction activities encompass the physical development of buildings, infrastructure, and various other structures. The rise in construction activities is attributed to rapid urbanization, infrastructure development, and an emphasis on efficiency and precision in building projects. Ammonium nitrate plays a vital role in construction due to its effectiveness in breaking hard materials and supporting large-scale excavation and demolition operations. Its use is carefully controlled to ensure worker safety and protect the surrounding environment. For example, in July 2024, the US Census Bureau reported that the value of construction operations increased from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. As a result, the growth in construction activities is fueling the demand for ammonium nitrate.
Leading companies in the ammonium nitrate market are concentrating on innovation, such as developing low-carbon-footprint ammonium nitrate to align with sustainability objectives. This type of ammonium nitrate is manufactured using advanced technologies and sustainable practices to significantly reduce greenhouse gas emissions compared to conventional methods. For example, in September 2023, Fertiberia, a Spain-based chemicals manufacturer, introduced the world's first low-carbon technical ammonium nitrate produced using green hydrogen at its plant in Puertollano (Ciudad Real). This product targets mining and civil infrastructure markets across Europe, the Middle East, and Africa, showcasing its production from renewable hydrogen, replacing natural gas.
In April 2022, Casale, a Swiss fertilizer company, acquired Green Granulation Ltd. This acquisition strengthens Casale's footprint in the Chinese market and enhances its offerings in nitrogen-based fertilizers. Green Granulation Ltd. is a Hong Kong-based company that manufactures urea and ammonium nitrate (AN), high-density ammonium nitrate (HDAN), and calcium ammonium nitrate (CAN) granulation systems.
Ammonium nitrate (NH₄NO₃) is composed of ammonium and nitrate ions, forming a white crystalline solid that is highly soluble in water and remains solid at room temperature. It serves primarily as a high-nitrogen fertilizer in agriculture, providing essential nutrients to plants.
Ammonium nitrate is categorized into different types including high density, low density, and others. High-density ammonium nitrate (HDAN) specifically possesses a greater density compared to standard ammonium nitrate. It finds applications in fertilizers, explosives, and other uses, catering to various industries such as agriculture, mining, defense, among others.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The escalating U.S. tariffs and rising trade tensions in spring 2025 are expected to significantly affect the chemicals sector, which is facing a disproportionate impact - particularly from tariffs on petrochemicals and intermediates, where affordable domestic alternatives are limited. Specialty chemical producers, who rely heavily on Chinese raw materials, are encountering production disruptions. Meanwhile, fertilizer manufacturers are seeing their profit margins squeezed due to tariffs on phosphate imports. In response, companies are increasing investments in R&D for bio-based alternatives, forming procurement alliances to strengthen purchasing power, and relocating production to tariff-neutral countries like Saudi Arabia.
The ammonium nitrate market research report is one of a series of new reports that provides ammonium nitrate market statistics, including ammonium nitrate industry global market size, regional shares, competitors with an ammonium nitrate market share, detailed ammonium nitrate market segments, market trends and opportunities, and any further data you may need to thrive in the ammonium nitrate industry. This ammonium nitrate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Major companies operating in the ammonium nitrate market are Nutrien Ltd., Yara International ASA, Abu Qir Fertilizers and Chemicals Company, Sasol Ltd., Borealis AG, Potash Corporation of Saskatchewan Inc., CF Industries Holdings, Inc., Ube Industries Ltd., EuroChem Group AG, Orica Limited, Incitec Pivot Ltd., Chambal Fertilisers and Chemicals Ltd., Dyno Nobel, Austin Powder Company, Enaex, OSTCHEM Holding AG, URALCHEM JSC, Fertiberia S.A., Neochim Plc, JSC Belaruskali, Machhar Industries Limited, GPN GmbH, Lovochemie A.S., San Corporation, Vijay Gas Industry Pvt. Ltd.
North America was the largest region in the ammonium nitrate market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ammonium nitrate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the ammonium nitrate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The ammonium nitrate market consists of sales of high-density ammonium nitrate, porous-filled ammonium nitrate, and low-density prilled ammonium nitrate. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
Table of Contents
1. Executive Summary2. Ammonium Nitrate Market Characteristics3. Ammonium Nitrate Market Trends And Strategies32. Global Ammonium Nitrate Market Competitive Benchmarking And Dashboard33. Key Mergers And Acquisitions In The Ammonium Nitrate Market34. Recent Developments In The Ammonium Nitrate Market
4. Ammonium Nitrate Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market
5. Global Ammonium Nitrate Growth Analysis And Strategic Analysis Framework
6. Ammonium Nitrate Market Segmentation
7. Ammonium Nitrate Market Regional And Country Analysis
8. Asia-Pacific Ammonium Nitrate Market
9. China Ammonium Nitrate Market
10. India Ammonium Nitrate Market
11. Japan Ammonium Nitrate Market
12. Australia Ammonium Nitrate Market
13. Indonesia Ammonium Nitrate Market
14. South Korea Ammonium Nitrate Market
15. Western Europe Ammonium Nitrate Market
16. UK Ammonium Nitrate Market
17. Germany Ammonium Nitrate Market
18. France Ammonium Nitrate Market
19. Italy Ammonium Nitrate Market
20. Spain Ammonium Nitrate Market
21. Eastern Europe Ammonium Nitrate Market
22. Russia Ammonium Nitrate Market
23. North America Ammonium Nitrate Market
24. USA Ammonium Nitrate Market
25. Canada Ammonium Nitrate Market
26. South America Ammonium Nitrate Market
27. Brazil Ammonium Nitrate Market
28. Middle East Ammonium Nitrate Market
29. Africa Ammonium Nitrate Market
30. Ammonium Nitrate Market Competitive Landscape And Company Profiles
31. Ammonium Nitrate Market Other Major And Innovative Companies
35. Ammonium Nitrate Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Ammonium Nitrate Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on ammonium nitrate market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- Create regional and country strategies on the basis of local data and analysis.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for ammonium nitrate ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The ammonium nitrate market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product Type: High Density; Low Density; Other Product Types2) By Application: Fertilizers; Explosives; Other Applications
3) By End-User Industry: Agriculture; Mining; Defense; Other End-User Industries
Subsegments:
1) By High Density: High-Density Ammonium Nitrate For Industrial Explosives; High-Density Ammonium Nitrate For Mining And Quarrying; High-Density Ammonium Nitrate For Agricultural Fertilizers; High-Density Ammonium Nitrate For Demolition And Construction2) By Low Density: Low-Density Ammonium Nitrate For Fertilizer Production; Low-Density Ammonium Nitrate For Explosives In Agriculture; Low-Density Ammonium Nitrate For Controlled-Release Fertilizers
3) By Other Product Types: Ammonium Nitrate Solution (Liquid Form); Ammonium Nitrate With Additives (Prilled With Anti-caking Agents); Specialty Ammonium Nitrate For Specific Applications (Automotive Or Military Use)
Key Companies Profiled: Nutrien Ltd.; Yara International ASA; Abu Qir Fertilizers and Chemicals Company; Sasol Ltd.; Borealis AG; Potash Corporation of Saskatchewan Inc.; CF Industries Holdings, Inc.; Ube Industries Ltd.; EuroChem Group AG; Orica Limited; Incitec Pivot Ltd.; Chambal Fertilisers and Chemicals Ltd.; Dyno Nobel; Austin Powder Company; Enaex; OSTCHEM Holding AG; URALCHEM JSC; Fertiberia S.A.; Neochim Plc; JSC Belaruskali; Machhar Industries Limited; GPN GmbH; Lovochemie A.S.; San Corporation; Vijay Gas Industry Pvt. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Nutrien Ltd.
- Yara International ASA
- Abu Qir Fertilizers and Chemicals Company
- Sasol Ltd.
- Borealis AG
- Potash Corporation of Saskatchewan Inc.
- CF Industries Holdings, Inc.
- Ube Industries Ltd.
- EuroChem Group AG
- Orica Limited
- Incitec Pivot Ltd.
- Chambal Fertilisers and Chemicals Ltd.
- Dyno Nobel
- Austin Powder Company
- Enaex
- OSTCHEM Holding AG
- URALCHEM JSC
- Fertiberia S.A.
- Neochim Plc
- JSC Belaruskali
- Machhar Industries Limited
- GPN GmbH
- Lovochemie A.S.
- San Corporation
- Vijay Gas Industry Pvt. Ltd.
