Ammonium Nitrate Market Report 2026

The ammonium nitrate market size has grown strongly in recent years. It will grow from $20.28 billion in 2025 to $21.34 billion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to growth in global agriculture output, expansion of mining activities, rising fertilizer consumption, population driven food demand, availability of ammonia feedstock.

The ammonium nitrate market size is expected to see steady growth in the next few years. It will grow to $25.73 billion in 2030 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to precision agriculture adoption, increasing infrastructure development, demand for efficient explosives, regulatory driven fertilizer optimization, advancements in fertilizer formulations. Major trends in the forecast period include rising demand for high efficiency nitrogen fertilizers, growing use in mining and quarrying explosives, increasing focus on controlled release fertilizers, expansion of agricultural productivity programs, higher emphasis on safe storage and handling technologies.

The increasing construction activities are expected to propel the growth of the ammonium nitrate market going forward. Construction activities involve the physical development of buildings, infrastructure, and other structural projects. This rise is driven by rapid urbanization, large-scale infrastructure development, and a growing emphasis on efficiency and precision in building processes. Ammonium nitrate plays a crucial role in construction due to its effectiveness in breaking hard materials and enabling large-scale excavation and demolition work, while being used under strict safety controls to protect workers and the surrounding environment. For example, in July 2024, the U.S. Census Bureau reported that the value of construction operations increased from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Therefore, increasing construction activities are driving the growth of the ammonium nitrate market.

Major companies operating in the ammonium nitrate market are focusing on developing innovative products such as low-carbon-footprint ammonium nitrate to meet global sustainability goals. Low-carbon ammonium nitrate is produced using advanced technologies and environmentally friendly practices that significantly reduce greenhouse gas emissions compared to traditional manufacturing methods. For instance, in September 2023, Fertiberia, a Spain-based fertilizer and chemicals manufacturer, introduced the world’s first low-carbon technical ammonium nitrate made using green hydrogen. Produced at the company’s Puertollano plant in Ciudad Real, this low-carbon TAN will be used across mining and civil infrastructure markets in Europe, the Middle East, and Africa. Its key innovation lies in replacing natural gas with renewable hydrogen in the production process.

In December 2023, CF Industries, a US-based fertilizer and ammonia producer, acquired the Waggaman ammonia production facility from Incitec Pivot Limited for US$1.675 billion. This acquisition is intended to expand CF Industries’ ammonia production capacity and support its shift toward low-carbon ammonia solutions. Incitec Pivot Limited is an Australia-based ammonia production company that also supplies ammonium nitrate.

Major companies operating in the ammonium nitrate market are Nutrien Ltd., Yara International ASA, CF Industries Holdings Inc., EuroChem Group AG, OCI N.V., Acron Group, URALCHEM JSC, Grupa Azoty S.A., Abu Qir Fertilizers and Chemicals Company, Chambal Fertilisers and Chemicals Ltd., Rashtriya Chemicals and Fertilizers Ltd., Fertiberia S.A., Neochim Plc, Lovochemie A.S., OSTCHEM Holding AG, Orica Limited, Incitec Pivot Ltd., Dyno Nobel, Austin Powder Company, Enaex, MAXAMCorp Holding S.L.

North America was the largest region in the ammonium nitrate market in 2025. 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, South East Asia, 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, Taiwan, 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.

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