Global Ammonium Nitrate Market Demand & Forecast Analysis, 2016-2032

Executive Summary : - 

The major applications of ammonium nitrate are fertilizers, explosives, nitrous oxide and others. The major use of ammonium nitrate has been its use as a fertilizer. After witnessing some decline in 2001-2002 due to stringent global regulation on account of attack on the WTO and measures in European countries. Ammonium nitrate market also declined during the 2008-2009 on account of financial crisis and economic recession. The ammonium nitrate market in the Western European countries has also declined owing to change in fertilizer policies and preference towards urea based fertilizers.

Ammonium nitrate is marketed in liquid and solid forms. Solid ammonium nitrate can be further segmented into granules, prills, grains and crystals. In the liquid form, it is mostly used as fertilizer while granules, crystals and prills are used as fertilizers as well. Prills and grains can also be used for explosives. There has been an increase in Calcium Ammonium Nitrate (CAN) as it is relatively safer.

As far a regional consumption is concerned, Central & Eastern accounts for the largest market share accounting for almost more than 30% of the global consumption and Russia and other CIS countries together account for almost 65% of this regional demand followed by the Western European region accounting for more than 20% of the global demand. China is expected to be the fastest growing market in the region followed by India and other East Asian countries in the Asia-Pacific region.

In terms of volume consumption the demand pattern differs from less than 1% growth in the mature economies to more than 4% in the CIS and Asia-Pacific countries. Prismane consulting estimates the overall global consumption of Ammonium nitrate to grow at a CAGR of 2.5% in the long-term forecast till 2030 higher than total nitrogen based fertilizers growth.