Ammonium Nitrate is a white, crystalline, water-soluble powder with the molecular formula NH4NO3, usually produced by reacting nitric acid with vaporous ammonia. According to BlueQuark Research & Consulting, the global Ammonium Nitrates market is expected to witness a significant growth rate during the forecasted period. Factors like increasing the use of Ammonium Nitrate in the fertilizer industry, Ammonium Nitrate helps to boost plants development and provides a ready source of nitrogen from which plants are drawn are expected to drive the global Ammonium Nitrates market. Further, Ammonium Nitrate has a lower mean temperature, indicating that it is a better chemical for cold packs is projected to drive the Global Ammonium Nitrates Market. Furthermore, in the mining industry, the significant component of slurry explosives used in mining is ammonium nitrate is expected to drive the Global Ammonium Nitrates Market. However, if inhaled can irritate the respiratory tract, which causes coughing, sore throat, and shortness of breath. Ammonium nitrate can cause headaches, dizziness, stomach discomfort, vomiting, bloody diarrhea, weakness, tingling, heart and circulation abnormalities, convulsions, collapse, and asphyxia when consumed in high concentrations, which is expected to hinder the future market growth of Ammonium Nitrate.

Ammonium Nitrate is used in fertilizers, pyrotechnics, herbicides, insecticides, and the production of nitrous oxide. It is utilized as a nitrogen oxide absorber, freezing mix component, rocket propellant oxidizer, and nutrition for yeast and antibiotics.

The Fertilizer Industry is the most primary and vital consumer of Ammonium Nitrate and is estimated to drive global demand. Ammonium Nitrate is a fertilizer that releases quickly. The plants readily absorb nitrate and ammonium ions for rapid metabolism, driving the Global Ammonium Nitrates market. CF Industries is the global leader in manufacturing ammonia products for fertilizers. Natural gas and fuel are the primary raw materials utilized in ammonia production, which significantly impacts the cost of nitrate fertilizers. Natural gas costs more than 70% of the entire cost of production for several ammonia plants across the world. The world's largest ammonia producer on a gross ammonia basis, with an average annual capacity of 10.3 million tonnes, among the many U.S. and international providers of ammonia-based fertilizers.​​ Ammonium nitrate is a popular fertilizer. The nitrate form rapidly travels to the roots with soil water, instantly accessible for plant absorption. Roots absorb the ammonium fraction, which is progressively transformed to nitrate by soil microbes, driving the global market. Thus, the above factors have made the fertilizer industry a vital growth segment for the Global Ammonium Nitrate market. 

The Asia-Pacific region is on its way to becoming the global leader in the production and consumption of Ammonium Nitrates, with most of the consumption in countries like China and India. The demand for Ammonium Nitrate is increasing in the fertilizer industry due to the increasing population. Many vegetable growers use ammonium nitrate as a fertilizer which is a readily accessible nitrate source of plant nourishment, driving the global market. The Covid-19 vaccination dose is kept under lower temperature, the demand for cold packs increases. The ammonium nitrate rapidly dissolves in an endothermic process when the barrier separating the bags is ruptured, dropping the pack's temperature to 2 to 3 degrees Celsius in a brief period is expected to drive the global Ammonium Nitrates market. In the mining industry, Ammonium Nitrate is the main component in mining explosives, where it is mixed with fuel oil and detonated by an explosive charge is expected to drive the global Ammonium Nitrates market. In the medical industry, Ammonium Nitrate is a vital ingredient in anesthetic gases used in surgery and dentistry, increasing the demand for Ammonium Nitrate. Therefore, mentioned factors have made the Asia Pacific region an important area in developing Ammonium Nitrates.

Some of the market's key players are Yara International, Austin Powder Holdings Company, Enaex SA, Orica Limited, CF Industries Holdings, Inc., among others.

In May 2020, Orica announced that it had completed the purchase of 83.5 percent of Exsa, Peru's foremost industrial explosives manufacturer and distributor.

In July 2019, Florikan announced the collaboration with EuroChem Group. Florikan has signed a strategic arrangement with EuroChem to acquire and distribute premium and standard fertilizers for its new increased efficiency controlled-release fertilizer line.

Global Ammonium NitratesMarket report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Ammonium Nitrates market by segmenting based on the By Form (Prills, Grains, Granules, Crystals, Others), By Application (Fertilizer, Cold Packs, Mining, Medical, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.