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The global nitric acid and ammonium nitrate-based fertilizer products market reached approximately 21.40 million tons in 2023. The market is projected to grow at a CAGR of 3.7% between 2024 and 2032, reaching a value of around 29.55 million tons by 2032.
Global Nitric Acid and Ammonium Nitrate Based Fertilizer Products Market Report Summary | Description | Value |
Base Year | Million Tonnes | 2023 |
Historical Period | Million Tonnes | 2018-2023 |
Forecast Period | Million Tonnes | 2024-2032 |
Market Size 2023 | Million Tonnes | 21.40 |
Market Size 2032 | Million Tonnes | 29.55 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 3.7% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 4.7% |
CAGR 2024-2032 - Market by Country | India | 5.4% |
CAGR 2024-2032 - Market by Country | China | 4.5% |
CAGR 2024-2032 - Market by Product Type | Nitric Acid | 4.1% |
CAGR 2024-2032 - Market by Application | Agriculture | 4.0% |
Market Share by Country 2023 | USA | XX% |
The global nitric acid and ammonium nitrate-based fertilizer products market value is increasing amid the growing emphasis of developing countries on boosting self-sufficiency in foodgrain production. Nitrogenous fertilizer products ensure a steady supply of nitrogen to plants, which is critical to produce proteins, amino acids, and DNA.
With the growing trend of sustainability, an increasing number of farmers are turning away from chemical fertilisers and seeking natural methods of nitrogen fixation for plants to facilitate their growth. As per the World Bank, over 200 million people worldwide are facing a condition of acute food insecurity due to war and famine-like conditions. Government initiatives to supply these products at a subsidised rate to boost crop cultivation are expected to drive nitric acid and ammonium nitrate-based fertilizer products demand in the forecast period.
CAGR 2024-2032 - Market by | Product Type |
Nitric Acid | 4.1% |
Ammonium Nitrate | 3.8% |
Others | 3.5% |
CAGR 2024-2032 - Market by | Application |
Agriculture | 4.0% |
Horticulture | 3.9% |
Turf and Ornamental | 3.5% |
Others | 3.3% |
CAGR 2024-2032 - Market by | Region |
Asia Pacific | 4.7% |
Middle East and Africa | 3.9% |
Latin America | 3.5% |
North America | 3.0% |
Europe | 2.8% |
USA: Projected to grow at a CAGR of 3.0%, driven by technological advancements and the shift towards a plant-based diet among people.
Canada: Expected to grow at a CAGR of 3.4%, reflecting efforts to combat food inflation and boost domestic self-sufficiency.
UK: Anticipated to grow at a CAGR of 3.3%, driven by strong policies promoting the shift towards organic food products and technological advancements.
Germany: Expected to grow at a CAGR of 2.7%, supported by technological advancements and increasing adoption of nitrogenous fertilisers by domestic farmers.
France: Projected to grow at a CAGR of 2.6%, reflecting stable demand and advancements in the technology for fertiliser production.
Italy: Expected to grow at a CAGR of 2.3%, driven by efforts to boost food security and prevent environmental pollution.
India: Expected to lead with the highest regional CAGR of 5.4%, reflecting rapid industrial growth and increasing government support for the adoption of nitric acid and ammonium nitrate based fertilizer products.
China: Expected to grow at a CAGR of 4.5%, driven by significant industrialisation and the expansion of its domestic farmlands.
Japan: Projected to grow at a CAGR of 2.8%, supported by technological advancements.
Australia: Expected to grow at a CAGR of 3.2%, driven by expanding urbanisation and the adoption of various government measures for boosting food security.
The nitric acid and ammonium nitrate-based fertilizer products industry in Brazil is projected to grow at a CAGR of 4.0%, supported by the growth of the agriculture sector.
Mexico: Expected to grow at a CAGR of 3.4%, reflecting ongoing efforts to boost domestic fruit production for making wines and beers.
Saudi Arabia: Projected to grow at a CAGR of 4.1%, reflecting significant investments in technological development and an increase in the cultivation of horticultural crops.
CAGR 2024-2032 - Market by | Country |
India | 5.4% |
China | 4.5% |
Saudi Arabia | 4.1% |
Brazil | 4.0% |
Canada | 3.4% |
Mexico | 3.4% |
UK | 3.3% |
Australia | 3.2% |
USA | 3.0% |
Japan | 2.8% |
Germany | 2.7% |
France | 2.6% |
Italy | 2.3% |
Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, historical and current market trends, and forecasts the dynamics of the Global nitric acid and ammonium nitrate based fertilizer products market spanning from 2018 to 2032.
The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the global nitric acid and ammonium nitrate based fertilizer products industry.
Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the global nitric acid and ammonium nitrate-based fertilizer products market.
The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.
Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the global nitric acid and ammonium nitrate-based fertilizer products market landscape.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Nitric Acid and Ammonium Nitrate Based Fertilizer Products Market Analysis
8.1 Key Industry Highlights
8.2 Global Nitric Acid and Ammonium Nitrate Based Fertilizer Products Historical Market (2018-2023)
8.3 Global Nitric Acid and Ammonium Nitrate Based Fertilizer Products Market Forecast (2024-2032)
8.4 Global Nitric Acid and Ammonium Nitrate Based Fertilizer Products Market by Product Type
8.4.1 Nitric Acid
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Ammonium Nitrate
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Nitric Acid and Ammonium Nitrate Based Fertilizer Products Market by Application
8.5.1 Agriculture
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Horticulture
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Turf and Ornamental
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Nitric Acid and Ammonium Nitrate Based Fertilizer Products Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Nitric Acid and Ammonium Nitrate Based Fertilizer Products Market Analysis
9.1 Market by Product Type
9.2 Market by Application
9.3 Market by Country
9.3.1 United States of America
9.3.1.1 Market by Product Type
9.3.1.2 Market by Application
9.3.1.3 Historical Trend (2018-2023)
9.3.1.4 Forecast Trend (2024-2032)
9.3.2 Canada
9.3.2.1 Market by Product Type
9.3.2.2 Market by Application
9.3.2.3 Historical Trend (2018-2023)
9.3.2.4 Forecast Trend (2024-2032)
10 Europe Nitric Acid and Ammonium Nitrate Based Fertilizer Products Market Analysis
10.1 Market by Product Type
10.2 Market by Application
10.3 Market by Country
10.3.1 United Kingdom
10.3.1.1 Market by Product Type
10.3.1.2 Market by Application
10.3.1.3 Historical Trend (2018-2023)
10.3.1.4 Forecast Trend (2024-2032)
10.3.2 Germany
10.3.2.1 Market by Product Type
10.3.2.2 Market by Application
10.3.2.3 Historical Trend (2018-2023)
10.3.2.4 Forecast Trend (2024-2032)
10.3.3 France
10.3.3.1 Market by Product Type
10.3.3.2 Market by Application
10.3.3.3 Historical Trend (2018-2023)
10.3.3.4 Forecast Trend (2024-2032)
10.3.4 Italy
10.3.4.1 Market by Product Type
10.3.4.2 Market by Application
10.3.4.3 Historical Trend (2018-2023)
10.3.4.4 Forecast Trend (2024-2032)
10.3.5 Others
11 Asia Pacific Nitric Acid and Ammonium Nitrate Based Fertilizer Products Market Analysis
11.1 Market by Product Type
11.2 Market by Application
11.3 Market by Country
11.3.1 China
11.3.1.1 Market by Product Type
11.3.1.2 Market by Application
11.3.1.3 Historical Trend (2018-2023)
11.3.1.4 Forecast Trend (2024-2032)
11.3.2 Japan
11.3.2.1 Market by Product Type
11.3.2.2 Market by Application
11.3.2.3 Historical Trend (2018-2023)
11.3.2.4 Forecast Trend (2024-2032)
11.3.3 India
11.3.3.1 Market by Product Type
11.3.3.2 Market by Application
11.3.3.3 Historical Trend (2018-2023)
11.3.3.4 Forecast Trend (2024-2032)
11.3.4 ASEAN
11.3.4.1 Market by Product Type
11.3.4.2 Market by Application
11.3.4.3 Historical Trend (2018-2023)
11.3.4.4 Forecast Trend (2024-2032)
11.3.5 Australia
11.3.5.1 Market by Product Type
11.3.5.2 Market by Application
11.3.5.3 Historical Trend (2018-2023)
11.3.5.4 Forecast Trend (2024-2032)
11.3.6 Others
12 Latin America Nitric Acid and Ammonium Nitrate Based Fertilizer Products Market Analysis
12.1 Market by Product Type
12.2 Market by Application
12.3 Market by Country
12.3.1 Brazil
12.3.1.1 Market by Product Type
12.3.1.2 Market by Application
12.3.1.3 Historical Trend (2018-2023)
12.3.1.4 Forecast Trend (2024-2032)
12.3.2 Argentina
12.3.2.1 Market by Product Type
12.3.2.2 Market by Application
12.3.2.3 Historical Trend (2018-2023)
12.3.2.4 Forecast Trend (2024-2032)
12.3.3 Mexico
12.3.3.1 Market by Product Type
12.3.3.2 Market by Application
12.3.3.3 Historical Trend (2018-2023)
12.3.3.4 Forecast Trend (2024-2032)
12.3.4 Others
13 Middle East and Africa Nitric Acid and Ammonium Nitrate Based Fertilizer Products Market Analysis
13.1 Market by Product Type
13.2 Market by Application
13.3 Market by Country
13.3.1 Saudi Arabia
13.3.1.1 Market by Product Type
13.3.1.2 Market by Application
13.3.1.3 Historical Trend (2018-2023)
13.3.1.4 Forecast Trend (2024-2032)
13.3.2 United Arab Emirates
13.3.2.1 Market by Product Type
13.3.2.2 Market by Application
13.3.2.3 Historical Trend (2018-2023)
13.3.2.4 Forecast Trend (2024-2032)
13.3.3 Nigeria
13.3.3.1 Market by Product Type
13.3.3.2 Market by Application
13.3.3.3 Historical Trend (2018-2023)
13.3.3.4 Forecast Trend (2024-2032)
13.3.4 South Africa
13.3.4.1 Market by Product Type
13.3.4.2 Market by Application
13.3.4.3 Historical Trend (2018-2023)
13.3.4.4 Forecast Trend (2024-2032)
13.3.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Yara International ASA
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 CF Industries Holdings, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Nutrien Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 OCI N.V.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 EuroChem Group AG
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Acron Group
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
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