Global Ammonium Nitrate Market Research Report: Forecast 2026–2036
The global chemical and agricultural industries continue to rely heavily on nitrogen-based compounds for food security and industrial expansion. Among these, Ammonium Nitrate (AN) remains one of the most critical yet highly regulated commodities in the world. Western Market Research predicts that the Ammonium Nitrate Market was valued at USD 18.2 Billion in 2025 and is expected to reach USD 29.5 Billion by the year 2036, growing at a CAGR of 4.5% globally.
This market is defined by its "dual-use" nature: it is an indispensable high-nitrogen fertilizer and a primary component in industrial explosives used in mining and construction.
Market Description
Ammonium Nitrate (
NH4NO3NH_4NO_3
) is a white crystalline salt produced by the reaction of ammonia with nitric acid. It is prized in agriculture for its high nitrogen content—providing both immediate nitrate nitrogen and delayed-release ammonium nitrogen to crops. In the industrial sector, when mixed with fuel oil, it creates ANFO (Ammonium Nitrate/Fuel Oil), which accounts for approximately 80% of the explosives used in the global mining and civil engineering sectors.
The market is currently navigating a complex period of transition. On one hand, the global push for food security necessitates higher fertilizer yields; on the other hand, the hazardous nature of the compound—highlighted by historical industrial accidents—has led to stringent storage and transportation regulations worldwide. Furthermore, the industry is increasingly focused on the "decarbonization" of ammonia production, with "Green Ammonium Nitrate" emerging as a future premium segment.
Global Ammonium Nitrate Market Segmentation
The market is segmented by its physical state and its divergent end-use applications.
By Type
-
Ammonium Nitrate Solid: This is the most dominant form, typically sold as High-Density Prills (HDAN) for agricultural use or Low-Density Prills (LDAN) for explosive applications. Solid prills are favored for their ease of bulk transport and long shelf life when stored correctly.
-
Ammonium Nitrate Solution: Often used in the production of Liquid Fertilizers (such as UAN - Urea Ammonium Nitrate) or in the manufacturing of emulsion explosives. Solutions offer better mixing capabilities for industrial automated processes.
By Application
-
Ammonium Nitrate Fertilizer: Accounts for the largest volume share. It is preferred for top-dressing crops like wheat, corn, and tobacco because it is less prone to volatilization compared to Urea.
-
Ammonium Nitrate Explosive: The cornerstone of the global mining, quarrying, and construction industries. The demand here is strictly tied to global infrastructure projects and the extraction of minerals required for the energy transition (e.g., copper and lithium).
-
Other: Includes specialty uses in the production of nitrous oxide (laughing gas) for medical applications and certain chemical intermediate processes.
Key Players Covered
The market is characterized by large-scale, vertically integrated chemical conglomerates:
-
EuroChem (Russia/Switzerland)
-
Uralchem (Russia)
-
OSTCHEM Holding (Ukraine)
-
Borealis (Austria)
-
Acron (Russia)
-
Yara (Norway - Global leader in nitrate-based fertilizers)
-
SBU Azot (Russia)
-
Incitec Pivot (Australia - Leader in mining explosives)
-
Zaklady (Poland)
-
Orica (Australia - World’s largest provider of commercial explosives)
-
CF Industries (USA)
-
CSBP (Australia)
-
Enaex (Chile)
-
KuibyshevAzot (Russia)
-
DFPCL (Deepak Fertilisers) (India)
-
Xinghua Chemical (China)
-
Sichuan Lutianhua (China)
DROT Analysis (Drivers, Restraints, Opportunities, Threats)
Drivers
-
Mining for the Energy Transition: The shift toward Electric Vehicles (EVs) requires a massive increase in the mining of copper, nickel, and lithium. This directly drives the demand for AN-based explosives for rock blasting.
-
Global Food Demand: With a global population heading toward 9 billion, the need for high-efficiency nitrogen fertilizers like AN is essential to maximize yield per hectare.
-
Infrastructure Boom in Developing Nations: Rapid urbanization in India, Southeast Asia, and Africa requires significant quarrying and civil engineering, supporting the explosives segment.
Restraints
-
Stringent Regulatory Frameworks: Following major incidents (like the Beirut Port explosion), governments have imposed rigorous tracking, storage, and licensing requirements, which increase operational costs for distributors.
-
Environmental Concerns: Nitrate leaching into groundwater and nitrous oxide emissions from soil are leading to stricter environmental "Nitrate Directives," particularly in Europe.
Opportunities
-
Green Ammonia Integration: Producing Ammonium Nitrate using "Green Hydrogen" (electrolysis powered by renewables) presents a major opportunity for companies to market low-carbon fertilizers to ESG-conscious food producers.
-
Precision Agriculture: New technologies that allow for the variable-rate application of nitrate fertilizers can optimize AN use, making it more cost-competitive against Urea.
Threats
-
Natural Gas Price Volatility: Since natural gas is the primary feedstock for ammonia, geopolitical tensions (e.g., the Russia-Ukraine conflict) can cause massive price spikes, rendering production unprofitable in certain regions.
-
Substitution by Urea: Urea is often cheaper and more widely available. In price-sensitive markets like India and Brazil, Urea remains a significant threat to AN’s agricultural market share.
Value Chain Analysis
-
Upstream (Feedstock): The process begins with Natural Gas (Methane). Through the Steam Methane Reforming (SMR) and Haber-Bosch processes, hydrogen is combined with atmospheric nitrogen to create Ammonia (
-
Midstream (Production):
-
Part of the ammonia is oxidized to create Nitric Acid (
The remaining ammonia is then neutralized with nitric acid to produce Ammonium Nitrate in liquid or molten form.
-
The liquid is then processed in prilling towers or granulators to create solid finished products.
-
-
Logistics (Crucial Step): Due to its explosive nature, AN requires specialized "Dangerous Goods" logistics, including temperature-controlled storage and "no-fly" zones for transport.
-
Downstream (Distribution): Products are sold to agricultural cooperatives or industrial blasting contractors.
-
End-User: Farmers (for crop nutrition) and Mining/Construction companies (for rock fragmentation).
Impact of COVID-19
The pandemic initially caused a slowdown in the industrial explosives segment as mining operations were suspended and construction projects delayed. However, the fertilizer segment remained resilient as governments classified agriculture as an essential service. Post-pandemic, the market faced a "Bullwhip Effect," where sudden demand spikes coincided with high energy prices and supply chain bottlenecks, leading to record-high Ammonium Nitrate prices in 2022 and 2023. This has forced the industry to prioritize supply chain localization and storage safety.
Regional Analysis
-
Europe: A major producer and consumer of AN for agriculture. It is the hub for "Green Nitrate" innovation but faces high regulatory pressure.
-
Russia/CIS: The world’s largest production base due to abundant natural gas. This region is a major exporter to Brazil and Southeast Asia.
-
Asia-Pacific: Driven by China’s massive agricultural needs and Australia’s dominant mining sector. India is a growing importer of AN for both sectors.
-
North America: Dominated by CF Industries and Orica. The market is stable, with a strong focus on advanced mining techniques and high-yield corn production.
Market Outlook: 2026–2036
The next decade will be defined by the "Decarbonization of the Nitrate Chain." We expect the emergence of a multi-tiered market where "Low-Carbon Ammonium Nitrate" fetches a premium price in developed economies.
From a safety perspective, we anticipate a global shift toward Liquid Ammonium Nitrate and Emulsion Explosives, which are inherently safer to transport than solid prills. In the mining sector, the automation of blasting will lead to more precise, on-site mixing of ANFO, reducing the need for large-scale storage of finished explosives. Despite environmental and regulatory hurdles, the fundamental link between Ammonium Nitrate and global food/energy security ensures it will remain a cornerstone of the global chemical economy through 2036.
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1. Market Overview of Ammonium Nitrate
1.1 Ammonium Nitrate Market Overview
1.1.1 Ammonium Nitrate Product Scope
1.1.2 Market Status and Outlook
1.2 Ammonium Nitrate Market Size by Regions:
1.3 Ammonium Nitrate Historic Market Size by Regions
1.4 Ammonium Nitrate Forecasted Market Size by Regions
1.5 Covid-19 Impact on Key Regions, Keyword Market Size YoY Growth
1.5.1 North America
1.5.2 East Asia
1.5.3 Europe
1.5.4 South Asia
1.5.5 Southeast Asia
1.5.6 Middle East
1.5.7 Africa
1.5.8 Oceania
1.5.9 South America
1.5.10 Rest of the World
1.6 Coronavirus Disease 2019 (Covid-19) Impact Will Have a Severe Impact on Global Growth
1.6.1 Covid-19 Impact: Global GDP Growth, 2019, 2020 and 2021 Projections
1.6.2 Covid-19 Impact: Commodity Prices Indices
1.6.3 Covid-19 Impact: Global Major Government Policy
2. Covid-19 Impact Ammonium Nitrate Sales Market by Type
2.1 Global Ammonium Nitrate Historic Market Size by Type
2.2 Global Ammonium Nitrate Forecasted Market Size by Type
2.3 Ammonium Nitrate Solution
2.4 Ammonium Nitrate Solid
3. Covid-19 Impact Ammonium Nitrate Sales Market by Application
3.1 Global Ammonium Nitrate Historic Market Size by Application
3.2 Global Ammonium Nitrate Forecasted Market Size by Application
3.3 Ammonium Nitrate Fertilizer
3.4 Ammonium Nitrate Explosive
3.5 Other
4. Covid-19 Impact Market Competition by Manufacturers
4.1 Global Ammonium Nitrate Production Capacity Market Share by Manufacturers
4.2 Global Ammonium Nitrate Revenue Market Share by Manufacturers
4.3 Global Ammonium Nitrate Average Price by Manufacturers
5. Company Profiles and Key Figures in Ammonium Nitrate Business
5.1 EuroChem
5.1.1 EuroChem Company Profile
5.1.2 EuroChem Ammonium Nitrate Product Specification
5.1.3 EuroChem Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.2 Uralchem
5.2.1 Uralchem Company Profile
5.2.2 Uralchem Ammonium Nitrate Product Specification
5.2.3 Uralchem Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.3 OSTCHEM Holding
5.3.1 OSTCHEM Holding Company Profile
5.3.2 OSTCHEM Holding Ammonium Nitrate Product Specification
5.3.3 OSTCHEM Holding Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.4 Borealis
5.4.1 Borealis Company Profile
5.4.2 Borealis Ammonium Nitrate Product Specification
5.4.3 Borealis Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.5 Acron
5.5.1 Acron Company Profile
5.5.2 Acron Ammonium Nitrate Product Specification
5.5.3 Acron Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.6 Yara
5.6.1 Yara Company Profile
5.6.2 Yara Ammonium Nitrate Product Specification
5.6.3 Yara Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.7 SBU Azot
5.7.1 SBU Azot Company Profile
5.7.2 SBU Azot Ammonium Nitrate Product Specification
5.7.3 SBU Azot Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.8 Incitec Pivot
5.8.1 Incitec Pivot Company Profile
5.8.2 Incitec Pivot Ammonium Nitrate Product Specification
5.8.3 Incitec Pivot Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.9 Zaklady
5.9.1 Zaklady Company Profile
5.9.2 Zaklady Ammonium Nitrate Product Specification
5.9.3 Zaklady Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.10 Orica
5.10.1 Orica Company Profile
5.10.2 Orica Ammonium Nitrate Product Specification
5.10.3 Orica Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.11 CF Industries
5.11.1 CF Industries Company Profile
5.11.2 CF Industries Ammonium Nitrate Product Specification
5.11.3 CF Industries Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.12 CSBP
5.12.1 CSBP Company Profile
5.12.2 CSBP Ammonium Nitrate Product Specification
5.12.3 CSBP Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.13 Enaex
5.13.1 Enaex Company Profile
5.13.2 Enaex Ammonium Nitrate Product Specification
5.13.3 Enaex Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.14 KuibyshevAzot
5.14.1 KuibyshevAzot Company Profile
5.14.2 KuibyshevAzot Ammonium Nitrate Product Specification
5.14.3 KuibyshevAzot Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.15 Minudobreniya(Rossosh)
5.15.1 Minudobreniya(Rossosh) Company Profile
5.15.2 Minudobreniya(Rossosh) Ammonium Nitrate Product Specification
5.15.3 Minudobreniya(Rossosh) Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.16 DFPCL
5.16.1 DFPCL Company Profile
5.16.2 DFPCL Ammonium Nitrate Product Specification
5.16.3 DFPCL Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.17 Xinghua Chemical
5.17.1 Xinghua Chemical Company Profile
5.17.2 Xinghua Chemical Ammonium Nitrate Product Specification
5.17.3 Xinghua Chemical Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.18 Liuzhou Chemical
5.18.1 Liuzhou Chemical Company Profile
5.18.2 Liuzhou Chemical Ammonium Nitrate Product Specification
5.18.3 Liuzhou Chemical Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.19 Jiehua Chemical
5.19.1 Jiehua Chemical Company Profile
5.19.2 Jiehua Chemical Ammonium Nitrate Product Specification
5.19.3 Jiehua Chemical Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.20 GESC
5.20.1 GESC Company Profile
5.20.2 GESC Ammonium Nitrate Product Specification
5.20.3 GESC Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.21 Holitech
5.21.1 Holitech Company Profile
5.21.2 Holitech Ammonium Nitrate Product Specification
5.21.3 Holitech Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.22 Jinkai Group
5.22.1 Jinkai Group Company Profile
5.22.2 Jinkai Group Ammonium Nitrate Product Specification
5.22.3 Jinkai Group Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.23 Urals Fertilizer
5.23.1 Urals Fertilizer Company Profile
5.23.2 Urals Fertilizer Ammonium Nitrate Product Specification
5.23.3 Urals Fertilizer Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.24 Sichun Chemical
5.24.1 Sichun Chemical Company Profile
5.24.2 Sichun Chemical Ammonium Nitrate Product Specification
5.24.3 Sichun Chemical Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.25 Shangxi Tianji
5.25.1 Shangxi Tianji Company Profile
5.25.2 Shangxi Tianji Ammonium Nitrate Product Specification
5.25.3 Shangxi Tianji Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.26 Fujian Shaohua
5.26.1 Fujian Shaohua Company Profile
5.26.2 Fujian Shaohua Ammonium Nitrate Product Specification
5.26.3 Fujian Shaohua Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.27 Sichuan Lutianhua
5.27.1 Sichuan Lutianhua Company Profile
5.27.2 Sichuan Lutianhua Ammonium Nitrate Product Specification
5.27.3 Sichuan Lutianhua Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
5.28
5.28.1 Company Profile
5.28.2 Ammonium Nitrate Product Specification
5.28.3 Ammonium Nitrate Production Capacity, Revenue, Price and Gross Margin
6. North America
6.1 North America Ammonium Nitrate Market Size
6.2 North America Ammonium Nitrate Key Players in North America
6.3 North America Ammonium Nitrate Market Size by Type
6.4 North America Ammonium Nitrate Market Size by Application
7. East Asia
7.1 East Asia Ammonium Nitrate Market Size
7.2 East Asia Ammonium Nitrate Key Players in North America
7.3 East Asia Ammonium Nitrate Market Size by Type
7.4 East Asia Ammonium Nitrate Market Size by Application
8. Europe
8.1 Europe Ammonium Nitrate Market Size
8.2 Europe Ammonium Nitrate Key Players in North America
8.3 Europe Ammonium Nitrate Market Size by Type
8.4 Europe Ammonium Nitrate Market Size by Application
9. South Asia
9.1 South Asia Ammonium Nitrate Market Size
9.2 South Asia Ammonium Nitrate Key Players in North America
9.3 South Asia Ammonium Nitrate Market Size by Type
9.4 South Asia Ammonium Nitrate Market Size by Application
10. Southeast Asia
10.1 Southeast Asia Ammonium Nitrate Market Size
10.2 Southeast Asia Ammonium Nitrate Key Players in North America
10.3 Southeast Asia Ammonium Nitrate Market Size by Type
10.4 Southeast Asia Ammonium Nitrate Market Size by Application
11. Middle East
11.1 Middle East Ammonium Nitrate Market Size
11.2 Middle East Ammonium Nitrate Key Players in North America
11.3 Middle East Ammonium Nitrate Market Size by Type
11.4 Middle East Ammonium Nitrate Market Size by Application
12. Africa
12.1 Africa Ammonium Nitrate Market Size
12.2 Africa Ammonium Nitrate Key Players in North America
12.3 Africa Ammonium Nitrate Market Size by Type
12.4 Africa Ammonium Nitrate Market Size by Application
13. Oceania
13.1 Oceania Ammonium Nitrate Market Size
13.2 Oceania Ammonium Nitrate Key Players in North America
13.3 Oceania Ammonium Nitrate Market Size by Type
13.4 Oceania Ammonium Nitrate Market Size by Application
14. South America
14.1 South America Ammonium Nitrate Market Size
14.2 South America Ammonium Nitrate Key Players in North America
14.3 South America Ammonium Nitrate Market Size by Type
14.4 South America Ammonium Nitrate Market Size by Application
15. Rest of the World
15.1 Rest of the World Ammonium Nitrate Market Size
15.2 Rest of the World Ammonium Nitrate Key Players in North America
15.3 Rest of the World Ammonium Nitrate Market Size by Type
15.4 Rest of the World Ammonium Nitrate Market Size by Application
16 Ammonium Nitrate Market Dynamics
16.1 Covid-19 Impact Market Top Trends
16.2 Covid-19 Impact Market Drivers
16.3 Covid-19 Impact Market Challenges
16.4 Porter
Global Ammonium Nitrate Market Segmentation
The market is segmented by its physical state and its divergent end-use applications.
By Type
-
Ammonium Nitrate Solid: This is the most dominant form, typically sold as High-Density Prills (HDAN) for agricultural use or Low-Density Prills (LDAN) for explosive applications. Solid prills are favored for their ease of bulk transport and long shelf life when stored correctly.
-
Ammonium Nitrate Solution: Often used in the production of Liquid Fertilizers (such as UAN - Urea Ammonium Nitrate) or in the manufacturing of emulsion explosives. Solutions offer better mixing capabilities for industrial automated processes.
By Application
-
Ammonium Nitrate Fertilizer: Accounts for the largest volume share. It is preferred for top-dressing crops like wheat, corn, and tobacco because it is less prone to volatilization compared to Urea.
-
Ammonium Nitrate Explosive: The cornerstone of the global mining, quarrying, and construction industries. The demand here is strictly tied to global infrastructure projects and the extraction of minerals required for the energy transition (e.g., copper and lithium).
-
Other: Includes specialty uses in the production of nitrous oxide (laughing gas) for medical applications and certain chemical intermediate processes.
Key Players Covered
The market is characterized by large-scale, vertically integrated chemical conglomerates:
-
EuroChem (Russia/Switzerland)
-
Uralchem (Russia)
-
OSTCHEM Holding (Ukraine)
-
Borealis (Austria)
-
Acron (Russia)
-
Yara (Norway - Global leader in nitrate-based fertilizers)
-
SBU Azot (Russia)
-
Incitec Pivot (Australia - Leader in mining explosives)
-
Zaklady (Poland)
-
Orica (Australia - World’s largest provider of commercial explosives)
-
CF Industries (USA)
-
CSBP (Australia)
-
Enaex (Chile)
-
KuibyshevAzot (Russia)
-
DFPCL (Deepak Fertilisers) (India)
-
Xinghua Chemical (China)
-
Sichuan Lutianhua (China)
