Sunday, September, 15, 2019 02:33:21

Ammonium Nitrate Market In Mining & Quarrying Segment Is Projected To Grow At A Cagr Of 1.7% Over 2019 – 2025

Mining & quarrying is an important end-user segment in the ammonium nitrate market, growing at a CAGR exceeding 1.7% from 2019 to 2025. China and US are the main drivers of the mining industry. China is becoming one of the largest mining countries especially for the rare-earth commodities. Whereas the US is important whenever mining is related to oil & gas extraction and mining activities support. Ammonium nitrate is employed in the manufacturing of the explosives used in the mining and quarrying activities. Increasing exploration activities in oil & gas sector & production in the U.S. post shell oil reserves discovery coupled with the matured oil & gas industry in the Middle-East and rising mining & quarrying activities in Asia Pacific region, especially in China & India will spur the demand for ammonium nitrate for explosives production in the coming years.

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Global ammonium nitrate market will be primarily driven by the increasing demand for fertilizers around the globe. The key factor responsible for rising fertilizer demand in agriculture sector is an excessive food demand driven by a steep rise in global population. Fertilizers enhance the crop production volume along with improving quality. Increasing usage of fertilizers in agriculture sector is also driven by the rising concerns over food safety around the world. Major usage of the product as fertilizers during the crop production is owing to its ability to slow release of nitrogen. Product demand will be driven by the shrinkage of agriculture land, increasing food consumption and rising concerns about the food safety.

The ever-growing population has created a demand-supply imbalance in case of food globally. Global population growth is likely to exceed 8 billion by 2030, which will result in the increased demand for food which in turn will increase the use of ammonium nitrate-based fertilizers. These fertilizers improve the growth, safety & quality of the crops and improves the yield. The fertilizer demand is high in Latin American and the APAC countries owing to the expansion of the agricultural lands in the regions. This in turn, will drive the ammonium nitrate market growth in the coming years.

Ammonium nitrate is also a vital ingredient for making mining explosives worldwide. The mining industry mostly relies on low-density ammonium nitrate (LDAN) that is used as a high-quality, cost-efficient mining explosive & blasting agent, particularly with ANFO (Ammonium Nitrate/ Fuel Oil) or in emulsion-type explosives. On account of the product’s fast oil absorbing property, excellent sensitivity to shock waves and flexibility, LDAN market is anticipated to grow at a CAGR of 4% over 2018-2025.

The paragraphs below provide a precise gist of the application landscape of the ammonium nitrate market:

Civil construction

The civil construction industry is predicted to emerge as among the most profitable application avenues for the ammonium nitrate market. Undeniably, this growth could be credited towards the rise in constructions, renovations as well as infrastructure needs around the world. A recently published report suggests that the volume of construction output would be escalating by over 80% to more than US$15 trillion globally by 2030, with three nations – India, China and the U.S. – leading the industry.

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Ammonium nitrate finds extensive use cases in the civil construction industry for concrete dams, excavation for railways, tunneling, road making, etc. Endowed with a wide spectrum of use cases in the civil construction industry, the ammonium nitrate industry is slated to gain considerable momentum in the years ahead with the massive expansion of the construction sector worldwide.

Asia Pacific is also a key ammonium nitrate market globally which will grow by a CAGR of more than 3.1% from 2019 to 2025. Growing agriculture industry owing to the development of agriculture-based countries coupled with increasing demand for mining explosives in India & China and escalating construction activities in the region will propel the market growth of ammonium nitrate in the region.
Key companies in the global ammonium nitrate market includes EuroChem, Yara International, Uralchem, Borealis, Ostchem, CF, Fertiberia and others. Backward integration is a major strategy used by the majority of the companies in the market to strengthen their positions along with increase their profit margins.


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