The global ammonium nitrate market was valued at USD 5,978.1 million in 2024 and is expected to reach USD 8,250.81 million by 2033, growing at a CAGR of 3.7% from 2025 to 2033. This growth is primarily driven by increasing demand for high-nitrogen fertilizers to improve agricultural productivity in response to global food security challenges.

Rising mining and construction activities, particularly in developing regions, are also fueling the use of ammonium nitrate in explosives. Government subsidies on fertilizers and infrastructure development programs further support market expansion. Emerging economies with growing agricultural sectors offer significant growth potential, especially as the demand for sustainable and efficient fertilizers rises.

Advancements in controlled-release technologies and safer handling systems are driving innovation. Meanwhile, expanding mining and infrastructure projects across Asia Pacific, Latin America, and Africa are expected to sustain long-term demand for ammonium nitrate-based explosives.

Key Market Insights:

• Europe held the largest market share at 42.7% in 2024, supported by strict safety, environmental, and sustainability regulations. While fertilizer use is impacted by EU green policies like the Farm to Fork Strategy, ammonium nitrate remains relevant in precision and controlled nutrient applications.
• By application, fertilizers accounted for 61.0% of revenue in 2024, driven by ammonium nitrate’s high nitrogen content and quick action. Demand is particularly strong in agriculture-focused regions such as Asia Pacific and Latin America, where staple crops like corn, wheat, and rice rely heavily on nitrogen-rich inputs.

Order a free sample PDF of the Ammonium Nitrate Market Intelligence Study, published by Grand View Research.

Market Size & Forecast

• 2024 Market Size: USD 5,978.1 Million
• 2033 Projected Market Size: USD 8,250.8 Million
• CAGR (2025-2033): 3.7%
• Europe: Largest market in 2024
• Asia Pacific: Fastest growing region from 2025 to 2033

Key Companies & Market Share Insights

Key players operating in the ammonium nitrate market are actively pursuing a range of strategic initiatives to reinforce their market position and expand their global footprint. These efforts are crucial in responding to evolving demand across agriculture, mining, and construction sectors while also aligning with regulatory requirements and sustainability goals.

Among the most prominent strategies are expansion activities, including the development of new production facilities, capacity enhancements at existing plants, and entry into emerging regional markets. By increasing manufacturing capabilities, companies aim to meet the growing demand for ammonium nitrate, particularly in regions like Asia Pacific, Latin America, and Africa, where agricultural intensification and infrastructure development are on the rise.

In addition to capacity growth, partnerships and collaborations with local distributors, agricultural cooperatives, and mining service providers are enabling companies to improve supply chain efficiency and extend product reach. These alliances often help in tailoring offerings to regional requirements, ensuring compliance with safety and environmental regulations, and providing better customer service.

Key Players

• 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.

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

The ammonium nitrate market is showing significant growth, primarily driven by its essential role in agricultural fertilizers to boost crop yields and its increasing use in explosives for the mining and construction industries. While one region currently holds the largest market share, another country is projected to experience the most rapid growth. The fertilizer application segment dominates the market. However, the industry faces considerable challenges due to stringent regulations concerning its explosive properties, environmental impacts, and fluctuating costs of raw materials. Despite these hurdles, key market players are focusing on expanding their capacities, forging strategic alliances, and adopting sustainable practices to navigate and grow within this evolving market.