Pune, India -- (SBWIRE) -- 05/21/2018 -- Ammonium Nitrate Market–Market Overview
As analysis of MRFR, the protuberant factors and trends driving growth of the Global Ammonium Nitrate Market are, the increasing building & construction activities, growing consumption of the product for manufacturing explosives, steadily rising defense sector on the backdrop of increasing defense expenditure by the leading military powers, and others. Additionally, the growing focus over increasing productivity due to shrinking land size and increasing population has necessitated the sue of good quality fertilizers to enhance crop yield. This is expected to fuel demand for the Ammonium Nitrate throughout the forecast period.
In recent years, the mining industry has witnessed considerable growth on account of increasing global demand for various earthen minerals, which is likely to propel growth of the Global Ammonium Nitrate Market over the estimated period. Moreover, rapidly increasing construction activities due to huge investment in infrastructural development around the globe is anticipated to boost demand for the product. However, the major factor anticipated to hamper growth of the market is the stringent government regulations imposed by regulatory bodies.
Ammonium Nitrate Market- Competitive Landscape
The Global Ammonium Nitrate is a highly mature market comprised of significant number of tier 1 manufacturers operating into the market. The market is mainly driven by flourishing agrochemicals and mining industry. The market accommodating considerable number of bigger and also the smaller players, particularly ushering in China. Yet the market share is mainly dominated by the presence of some of the major market players such as EuroChem Group AG, URALCHEM JSC, OSTCHEM, Orica Limited, and Yara International ASA. Almost all of these market participants are promptly adopting the product launch, expansion and distribution agreement as their major business tactics to strengthen their market position and sustain the growing competition in the market. Additionally, the collaborations and agreements between manufacturers, distributers, and marketing firms are key market forces operating in the market for the growth of the demand for Ammonium Nitrate. Undertaking all these trends in this market, the Global Ammonium Nitrate Market is expected to witness robust competition over the review period of 2017-2023.
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Industry/ Innovation/ Related News:
January 29, 2018- The output of commercial products by URALCHEM's plants in 2017 amounted to 6.3 million tons, which is a 4% (258 thousand tons) increase year-on-year. The production of ammonium nitrate and its derivatives, and ammonia in general, remained at the high level achieved in 2016. Urea output increased by 6% due to quick repairs of urea units at the Azot and PMF Branches. The production of complex fertilizers grew by 16% because of higher daily output at JSC Voskresensk Mineral Fertilizers.
November 1, 2017- Ukraine based association of ammonia, nitrogen fertilizers, organic alcohol and acids, and consumable goods from polymers and plastic films manufacturers, PJSC Severodonetsk Azot recently resumed the production of ammonium nitrate. In November 2017, the company planned to produce 51,000 tons of ammonium nitrate. For the same purpose they have renewed work on the entire technological chain starting from accepting ammonia to obtaining mineral fertilizers, wherein the mineral fertilizers produced will be supplied to domestic farmers.
January 23, 2017- EuroChem Group AG, a Switzerland based leading global agrochemical company has applauded the decision of the US Department of Commerce to scrap the 30 years old 64.93% antidumping duty imposed on shipments of urea from Russia. This move came into an effect from December 20, 2016. These antidumping duties put against the fertilizers synthesized in Russia were introduced in the late 80's after the opening of the Soviet Union to international trade was conceived as a threat to the domestic US market.
August 25, 2016- Yara International ASA, a Norwegian chemical company and Australia based global supplier of commercial explosives and blasting systems entered into a joint venture to develop world's first modular ammonium nitrate plant in Western Australia. This new facility exhibits a production capacity of 330,000 tons per annum. The plant is integrated with Yara's neighboring ammonia plant Yara Pilbara Fertilizers, which provides 800,000 tons of ammonia per annum around the world. The plant is in operation since the start of 2017 and is most likely to meet the growing demand from the expanding mining industry.
January 28, 2016- A Switzerland based agrochemicals manufacturing company, EuroChem Group AG has recently signed a joint equity investment and two strategic collaboration agreements with a Norway based biological crop-additives company Agrinos AS. According to the terms of an agreement EuroChem acquired 22.25 million new shares in Agrinos and had an option to acquire up to 32.633 million new shares during the following two years. The second strategic collaboration has been signed to integrate biological and chemical crop nutrition technologies for the R&D of innovative products for next generation microbial and crop nutrition products. This acquisition expanded the diverse portfolio of nitrogen and phosphate fertilizers EuroChem with specialty products and environmentally friendly crop-enhancing solutions.
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