India ammonium nitrate market
is anticipated to register growth with an impressive CAGR in the forecast
period, 2023-2027. The market growth can be attributed to the rising demand for
ammonium nitrate in the agricultural sector as it helps in producing adequate
amount of food. Moreover, the growing concerns towards the limited arable and
the rapidly growing population have prompted the farmers to adopt quality
fertilizers such as ammonium nitrate to secure the surging food demand. Besides
this, the rapidly growing construction activities across the globe,
particularly in the urban areas, has significantly proliferated the demand for
explosives. Furthermore, the rising production and demand for manganese,
bauxite, and base materials are anticipated to propel the need for blasting
products, hence driving the demand for ammonium nitrate. In line with this, the
high investments by the leading mining companies to explore new mining sites
for valuable minerals and metals is expected to further augment the growth of
the India ammonium nitrate market.
Ammonium nitrate refers to a
white crystalline solid chemical compound that is widely utilized as a
fertilizer and as a component in some explosives. It is composed of ammonium
and nitrate and is highly soluble in water. In the agriculture industry, it is
extensively utilized as a high-nitrogen fertilizer. Ammonium nitrate is also
used as an absorbent for nitrogen oxides and as an oxidizer in rocket
propellants. It is further utilized in explosives for blasting rocks and in
mining.
Rapidly Growing Agriculture
Industry, Along with Surging Demand for Quality Food, Fuels the Market Growth.
With the growing population
and inflating disposable income of consumers, the demand for quality food has
increased. According to Ministry of Statistics and Programme Implementation,
India ranks as the second most populous country in the world after China. It is
projected that India is most likely to take over China to become the most
populous country in the world by 2027 with the population of 1,27 billion
people. Fertilizers contain a crucial macronutrient, nitrogen. Nitrogen
fertilizers are extensively utilized in the agricultural industry for crop
growth. Rapid urbanization, rise in disposable income, and changes in dietary
behavior such as preferences for quality and nutritive agricultural products
have collectively influenced food security. As a result, farmers across the
world are focusing on increasing the crop production to cater to such
bolstering food demands. Moreover, the limited availability of arable land has
significantly enhanced the adoption of fertilizers, which in turn is providing
a boost to the India ammonium nitrate market.
Increasing Construction &
Mining Activities Propels the Product Demand
As stated above, with the
increasing population, especially the rise in urban population, the need for
building residential buildings has increased. Both government and private
sectors are investing intensively in building residential infrastructures to cater
to the propelling demand for the residential sector. Moreover, the aim of the
Indian government to transform cities into smart cities is also adding to the
growth of the construction industry. Ammonium nitrate is widely utilized in the
construction of buildings. Apart from this, several mining companies are also
increasingly using ammonium nitrate to explore new mining sites in search of
valuable material. Ammonium nitrate is the primary component of slurry
explosives, and low-density ammonium nitrate is widely employed in mining
activities. It is intentionally made very porous to allow for the rapid uptake
of liquid fuel oil.
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Market Segmentation
The
India ammonium nitrate market is segmented on the basis of solids, application,
end-user, competitive landscape, and regional distribution. Based on solids, the market
is differentiated between high density ammonium nitrate and low-density
ammonium nitrate. By application the market is bifurcated into fertilizers,
explosives, and others. Based on end-users the market is fragmented into
agriculture, mining, defense, and others. The market analysis also studies the
regional segmentation to devise regional market segmentation, divided among North
India, South India, East India, West India.
Company Profile
Deepak Fertilizers
and Petrochemicals Corporation Limited, Rashtriya Chemicals & Fertilizers
Ltd., National Fertilizers Limited, and Gujarat Narmada Valley Fertilizers
& Chemicals Company of the leading market players responsible for the growth of India
ammonium nitrate market.
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Attribute
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Details
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Base Year
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2021
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Historical Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, volume in units, and CAGR for
2017-2021 and 2022-2027
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Report coverage
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Revenue forecast, volume forecast, company share, competitive
landscape, growth factors, and trends
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Segments covered
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·
Solids
·
Application
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End user
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Region
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Regional scope
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North India, South India, East India, West India
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Key companies profiled
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Deepak Fertilizers and Petrochemicals
Corporation Limited, Rashtriya Chemicals & Fertilizers Ltd., National
Fertilizers Limited, and Gujarat Narmada Valley Fertilizers & Chemicals
Company
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Customization scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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Report Scope:
In this report, India ammonium
nitrate market has been segmented into following categories, in addition
to the industry trends which have also been detailed below:
- India Ammonium Nitrate Market, By Solids:
o High Density Ammonium Nitrate
o Low Density Ammonium Nitrate
- India Ammonium Nitrate Market, By Applications:
o Fertilizers
o Explosives
o Others
- India Ammonium Nitrate Market, By End
User:
o
Agriculture
o
Mining
o
Defense
o
Others
- India Ammonium Nitrate Market, By
Region:
o East India
o West India
o North India
o South India
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in India Ammonium Nitrate Market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
India Ammonium Nitrate Market is an upcoming report to be released soon.
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release, please contact us at [email protected]