Pune, India -- (SBWIRE) -- 08/23/2018 -- Ammonium Nitrate is used in diverse applications as it is used as a high-quality fertilizer in the cultivation of crops, yields, and others. Due to these factors, they are used in various applications such as fertilizers, explosives, and others. The Global Ammonium Nitrate Market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the global market and is projected to continue leading, owing to the increasing consumption of Ammonium Nitrate in fertilizers, food additives, and industrial use segments. It is estimated that the fertilizers segment is set to observe the highest CAGR in the market owing to its ability to lower the pH value of soil and used as a major nutrient for the production of plants. Moreover, the increasing demand for ammonium nitrate in explosives, food, and non-food applications have propelled the market to witness a rapid growth during the forecast period. These factors have led China, India, and Japan to be the major players in this region.

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The North American market has observed a significant growth due to the burgeoning military sectors. The U.S., Canada, and Mexico have achieved an enormous growth in the market due to the impact caused by consumption of the product in agriculture, mining activities, and others. However, the growing demand for fertilizers in end-use industries is estimated to drive the market during the forecast period.

A moderate development is achieved in Europe due to the implementation of strict rules and regulations followed by the end-use industries. The growing innovation and technological advancement have propelled the market to witness a positive impact in the future. Owing to these factors, countries such as Germany, the U.K, and Italy are likely to be the major contributors to this market.

A significant development is predicted in the Latin American region such as in Brazil, Uruguay, and Argentina due to the growing consumption of the product in agriculture, defense, and other sectors. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing demand for fertilizers in agro-based industries.

Segmentation

The Global Ammonium Nitrate Market is segmented into Application and End-Use. On the basis of the application, the market is further classified into fertilizers, explosives, and other segments. On the basis of the application, the market is subdivided into agriculture, mining, defense, and others

Competitive Analysis

Some of the well-known players operating in the Global Ammonium Nitrate Market are Orica (Australia), Incitec Pivot Limited (Australia), Neochim Plc. (Bulgaria), URALCHEM JSC (Russia), SAN Corp (Philippines), CF Industries Holdings, Inc. (the Netherlands), EuroChem Group AG (Switzerland), Austin Powder (U.S.), Vijay Gas Industry Pvt. Ltd. (India), and OSTCHEM (Austria) among others.

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