Global Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size

In 2023, the global ammonium nitrate market decreased by X% to $X for the first time since 2017, thus ending a five-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then contracted slightly in the following year.

Ammonium Nitrate Production

In value terms, ammonium nitrate production totaled $X in 2023 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, global production growth remained at a somewhat lower figure.

Ammonium Nitrate Exports

Exports

In 2023, the amount of ammonium nitrate exported worldwide reduced to X tons, stabilizing at 2022 figures. Over the period under review, exports saw a slight shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The global exports peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, ammonium nitrate exports reduced markedly to $X in 2023. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the global exports hit record highs at $X in 2022, and then dropped rapidly in the following year.

Exports by Country

Russia represented the main exporting country with an export of around X tons, which reached X% of total exports. The United States (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Georgia (X%), Bulgaria (X%), Lithuania (X%) and Oman (X%). The following exporters - Sweden (X tons), Egypt (X tons), Canada (X tons), Poland (X tons), South Africa (X tons), Uzbekistan (X tons) and Chile (X tons) - together made up X% of total exports.

Russia experienced a relatively flat trend pattern with regard to volume of exports of ammonium nitrate. At the same time, Oman (X%), Egypt (X%), the United States (X%), Bulgaria (X%) and South Africa (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. Poland, Georgia and Sweden experienced a relatively flat trend pattern. By contrast, Lithuania (X%), Canada (X%), Uzbekistan (X%) and Chile (X%) illustrated a downward trend over the same period. Russia (X p.p.), the United States (X p.p.), Oman (X p.p.), Bulgaria (X p.p.), Egypt (X p.p.) and Uzbekistan (X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest ammonium nitrate supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by the United States ($X), with a X% share of global exports. It was followed by Sweden, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Russia amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (X% per year) and Sweden (X% per year).

Export Prices by Country

The average ammonium nitrate export price stood at $X per ton in 2023, falling by X% against the previous year. In general, export price indicated a modest increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ammonium nitrate export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then fell notably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Canada ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other global leaders experienced more modest paces of growth.

Ammonium Nitrate Imports

Imports

In 2023, purchases abroad of ammonium nitrate decreased by X% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, imports recorded a slight slump. The most prominent rate of growth was recorded in 2019 with an increase of X%. Global imports peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, ammonium nitrate imports contracted notably to $X in 2023. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when imports increased by X%. As a result, imports attained the peak of $X, and then declined remarkably in the following year.

Imports by Country

In 2023, Brazil (X tons), distantly followed by India (X tons) and Canada (X tons) were the major importers of ammonium nitrate, together mixing up X% of total imports. The following importers - Romania (X tons), Peru (X tons), the United States (X tons), Kazakhstan (X tons), Morocco (X tons), Ukraine (X tons), Lithuania (X tons), the UK (X tons), Australia (X tons) and Zambia (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Romania (with a CAGR of X%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest ammonium nitrate importing markets worldwide were India ($X), Brazil ($X) and Peru ($X), together comprising X% of global imports. Romania, Canada, Australia, Ukraine, Zambia, Kazakhstan, the United States, Morocco, the UK and Lithuania lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Romania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average ammonium nitrate import price amounted to $X per ton, declining by X% against the previous year. In general, import price indicated a slight expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ammonium nitrate import price increased by X% against 2020 indices. The growth pace was the most rapid in 2022 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform