Ammonium Nitrate Market To Reach $8,250.8 Million By 2033

Ammonium Nitrate Market Growth & Trends

The global ammonium nitrate market size is expected to reach USD 8,250.8 million by 2033, at a registering a CAGR of 3.7% from 2025 to 2033, according to a new report by Grand View Research, Inc. Superior stability and low nitrogen emission offered by the product in crop protection chemicals is expected to drive the market growth.

At present, stringent regulations related to transportation, storage, handling, and usage of ammonium nitrate is forcing the manufacturers to opt out of the market. Moreover, the profit margins are shrinking owing to rising substitutes including urea, which further discourages the new entrants to invest in the market which is likely to have a negative impact on the industry trend.

The industry has several players, which are integrated across the value chain to manufacture raw materials. Strong foothold of the existing players in the market is expected to increase entry barrier of new players. In addition, the rivalry between established producers is expected to increase on the account of low product differentiation.

Rising penetration of urea as a substitute for the product in fertilizer application is expected to hamper the industry growth. However, the product offers the better efficiency of nitrogen uptake and has low carbon footprints than urea, which is likely to have a positive impact on the industry trends over the forecast period.

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Ammonium Nitrate Market Report Highlights

• The fertilizers segment held the largest revenue share of 61.0% in 2024, primarily due to its high nitrogen content and fast-acting nature, making it a preferred choice for boosting crop yields.

• North America ammonium nitrate market is characterized by stable demand across both the agriculture and mining sectors, supported by a mature regulatory framework and advanced infrastructure.

• The ammonium nitrate market in the U.S. is primarily driven by its use in the mining and construction sectors, where it serves as a critical component in industrial explosives.

• The ammonium nitrate market in Europe is shaped by a well-regulated environment emphasizing safety, sustainability, and environmental compliance, capturing the largest revenue share of 42. 7% in 2024.

Ammonium Nitrate Market Segmentation

Grand View Research has segmented the global ammonium nitrate market on the basis of application and region:

Application Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• Fertilizers

• Explosives

• Others

Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Ukraine

  • Poland

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • Egypt

• Latin America

  • Brazil

  • Argentina

List of Key Players in the Ammonium Nitrate Market

• Orica

• Incitec Pivot Limited

• Neochim PLC

• URALCHEM

• San Corporation

• CF Industries Holdings, Inc.

• EuroChem Group AG

• Austin Powder Company

• Vijay Gas Industry P Ltd

• OSTCHEM Holding.