- Ammonium nitrate is a chemical compound widely used as a high-efficiency nitrogen fertilizer and a key ingredient in industrial explosives. It plays a critical role in agriculture by enhancing soil fertility and supporting higher crop yields, while also being essential in mining, construction, and defense sectors for blasting applications
- The escalating demand for ammonium nitrate is primarily fueled by the growing global need for food production, expansion of large-scale mining operations, and rising infrastructure development, all of which require reliable fertilizers and efficient explosives
- Europe dominated the ammonium nitrate market with a share of 43.2% in 2024, due to the region’s well-established agricultural sector, stringent environmental regulations, and significant demand for high-quality fertilizers
- North America is expected to be the fastest growing region in the ammonium nitrate market during the forecast period due to expanding mining activities, defense sector modernization, and increased agricultural productivity initiatives
- Fertilizers segment dominated the market with a market share of 61.5% in 2024, due to the critical role of ammonium nitrate as a high-efficiency nitrogen source that enhances crop productivity. Growing global food security concerns, shrinking arable land, and the push for improved agricultural output are key factors fueling the demand for ammonium nitrate-based fertilizers. Its high nutrient content and rapid action make it particularly suitable for cereals, vegetables, and industrial crops across both developed and emerging regions
