The global ammonium nitrate market size is expected to showcase substantial growth during the forecast period. This growth is attributable to the increasing demand for high crop yield and the growing government focus for the beautification of gardens across public places that will boost the adoption of advanced ammonium nitrate across the globe. This information is published by Fortune Business InsightsFortune Business Insights™ lists out all the ammonium nitrate market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Yara International ASA
- Orica Ltd
- Sigdo Koppers Group
- CF Industries Holdings, Inc.
- Incitec Pivot Ltd.
- Neochim Ad
- EuroChem Group AG
- OSTCHEM Holding Company
- Fertiberia SA
- Borealis AG
- San Corporation
- Abu Qir Fertilizers Co.
- Deepak Fertilisers and Petrochemicals
- CSBP Limited
- Uralchem
- Others
Ammonium nitrate is a type of crystalline, pure, and water-soluble powder that is formed by reaction between vaporized ammonia and nitric acid. It is extensively adopted in agricultural sector as a high-nitrogen fertilizer and in mining industries as explosives.
What does the Report Provide?
The global market for wall-mounted acoustic panel report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth between 2019 and 2026.
DRIVING FACTORS
Increasing Demand for Higher Crop Yield to Propel Growth
According to the Trade Promotion Council of India (TPCI), it is estimated that there is above 100% spike in the global food demand amid COVID-19 from destinations such as the U.S., Australia, Israel, Egypt, Europe, Palestine, and New Zealand. The growing demand for food is likely to propel the adoption of advanced ammonium nitrate-based fertilizers to ensure high quality yield. Moreover, several government initiatives to beautify the gardens at public places are contributing to the global ammonium nitrate market growth during the forecast period.
REGIONAL INSIGHTS
Asia-Pacific to Remain at Forefront; Presence of Large Manufacturing Countries to Aid Growth
Among all the regions, Asia-Pacific is expected to hold the highest position in the global ammonium nitrate market in the forthcoming years. This is attributable to the presence of large ammonium nitrate manufacturing countries such as China, Japan, Taiwan, and South Korea in the region.
The market in North America is anticipated to showcase considerable growth backed by the growing demand defense explosives in the region between 2019 and 2026.
COMPETITIVE LANDSCAPE
Facility Expansion by Major Companies to Expand Their Product Portfolio
The global market for ammonium nitrate is fragmented by the presence of major companies striving to maintain a stronghold by expanding their facilities to cater to the growing demand from industrial applications such as agriculture, mining, and others. In addition to this, the adoption of strategies such as merger and acquisition, collaboration, and partnership by other key players is anticipated to favor the growth of the market.
The Global Ammonium Nitrate Market Research/Analysis Report Contains Answers to your following Questions:
- Which Manufacturing Technology is used for Ammonium Nitrate? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Ammonium Nitrate Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Ammonium Nitrate Market? What Was Capacity, Production Value, Cost and PROFIT of Ammonium Nitrate Market?
- What Is Current Market Status of Ammonium Nitrate Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Ammonium Nitrate Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Ammonium Nitrate Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Ammonium Nitrate Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Ammonium Nitrate Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Ammonium Nitrate Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Ammonium Nitrate Industry?
Industry Development:
- August 2020 – India-based Salvo Explosives & Chemicals, purchased around 700 tons of ammonium nitrate in an e-auction. The company requires the chemical compound to manufacture explosives.
Source link- https://www.fortunebusinessinsights.com/ammonium-nitrate-market-102305
