Expert Market Research Explores the Top 6 Companies in the Global Ammonium Nitrate Market

The global ammonium nitrate market is estimated to grow at a CAGR of 3.8% in the forecast period of 2024-2032. As per the analysis by Expert Market Research, the market is expected to be driven by growing demand for fertilizers and the flourishing consumer electronics industry.

Ammonium nitrate is a versatile chemical used in the agriculture, mining, and defence sectors for various applications. In agriculture, it serves as a nitrogen-rich fertilizer, essential for boosting crop yields, especially for smallholder farmers. With rising food security concerns, its use as an affordable fertilizer is growing. According to the World Bank, the global consumption of fertilizers reached 139.79 Kg/hectare of arable land in 2021, registering an increase of 9.7% from 2010. In 2020, the consumption of fertilizer reached an all-time high of 141.97 Kg/hectare of arable land.

Ammonium nitrate is essential in mining, quarrying, and construction for blasting activities, mainly as a key ingredient in ammonium nitrate fuel oil (ANFO) and various bulk explosive blends. In prill form, it is used for its porosity and flowability, enhanced by an anti-caking wax. Technical-grade ammonium nitrate is crucial for civil explosives and fertilizers. In the electronics industry, pure ammonium nitrate produces high-quality nitrous oxide for VLSI and ULSI manufacturing. This nitrous oxide is vital for chemical deposition in semiconductors, LCD displays, and thin-film oxides, used in devices like computers, smartphones, and space rockets. With the rising consumer electronic industry, the demand for aluminium nitrite is expected to increase.

Increasing collaborations and government initiatives are shaping the market dynamics of the global ammonium nitrate market. For instance, in February 2024, Coal India and Bharat Heavy Electricals Ltd (BHEL) formed a joint venture to establish a coal-to-chemicals business, starting with a 2000 TPD ammonium nitrate plant using BHEL's PFBG technology. The JV, with Coal India holding 51% and BHEL 49%, is registered in Odisha and incorporated as a private limited company with an initial capital of Rs 1 lakh.

Top 6 Ammonium Nitrate Manufacturers

CF Industries Holdings, Inc.

The company is a US-based manufacturer and distributor of agricultural fertilisers. It offers product portfolios of Ammonia Production, Clean Energy, Fertilisers, and Emissions Control. It operates manufacturing complexes in the United States, Canada, and the United Kingdom. In Canada (Medicine Hat, Alberta), the company has the largest ammonia production complex, with a capacity of 1,230,000 tons. It also owns the world's largest ammonia production complex in Donaldsonville (Louisiana), with a capacity of 4,335,000 tons.

Croda International Plc

Croda International Plc is a supplier of sustainable and high-performance speciality chemicals. It was founded in 1925. It is a Financial Times Stock Exchange (FTSE) 100 listed company. With over 6,100 employees globally, they support successful brands by creating, manufacturing, and selling innovative ingredients. Committed to using Smart science to improve lives™, the company aims to be the most sustainable supplier by 2030, with two-thirds of their organic raw materials already bio-based, striving to become Climate, Land, and People Positive.

Yara International ASA

Yara International ASA is the world’s leading crop nutrition company and a provider of environmental and agricultural solutions. The company provides farming solutions through its three regional units based in Africa and Asia, the Americas, and Europe, where they operate in a fully integrated setup. The company is also listed on Oslo Stock Exchange under the symbol OTCMKTS: YARIY. The company has a strong global reach with a workforce of 17,000 employees working in more than 60 countries. Yara International has its production plants in Germany, Brazil, South Africa, Sweden, France, and Malaysia. In Africa region, it operates in Cote d’Ivoire, Ghana, Burkina Faso, Cameroon, Kenya, Uganda, Tanzania, Rwanda, Zambia, Mozambique, and Malawi.

Orica Holding Limited

The Omnia Group is a diversified company offering a range of complementary chemical services businesses. The company manufactures and supplies chemicals, and specialist services and solutions for a variety of industries

including agriculture, mining, and chemical industries. Omnia has a physical presence in 26 countries and a distribution network involving over 40 countries across the world. The company’s corporate office is in Johannesburg, South Africa, and its main production facilities are located in Sasolburg and Morwell Australia.

Maxamcorp Holding, S.L.

MAXAM, founded by Alfred Nobel in 1872, is a global leader in energetic materials. They provide blasting solutions for mining, quarries, and civil works, cartridges and gun powders for hunting and recreational shooting, and defense and security products. With over 6,000 employees in 45 countries, MAXAM aims to enhance clients' value chains worldwide, promoting sustainable progress and societal development.

Sasol Limited

Sasol is a global chemicals and energy company. The Group comprises three distinct market-focused businesses, namely: Sasol Chemicals, Sasol Energy, and Sasol ecoFT. The company has invested ZAR 743,3 million on social investment initiatives and ZAR 1,2 billion in research and development. The company aims to become zero carbon by 2050. It is listed on the Johannesburg Stock Exchange in South Africa and the New York Stock Exchange in the United States. Sasol Limited has 29,073 employees located across 22 countries globally. The company markets products in about 120 countries.