Ammonium Nitrate Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis
The ammonium nitrate market was estimated at USD 16.43 billion in 2022 and is likely to grow at a CAGR of 3.24% during 2023-2028 to reach USD 19.99 billion in 2028. Ammonium nitrate, chemically known as NH4NO3, is a chemical compound. Made up of ammonium and nitrate ions, it is a white crystalline substance. Owing to its high source of nitrogen, it is commonly used as a fertilizer.