Ammonium nitrate market seen reaching $25.68 billion by 2030

The Business Research Company projects the global ammonium nitrate market will grow at a 5% CAGR through 2030, lifted by demand from mining, construction and fertilizer use. Asia-Pacific is expected to be the largest region, while the U.S. leads by country and high-density product holds the biggest share.

Why it matters: - The ammonium nitrate market is tied to two major demand engines: industrial explosives and nitrogen fertilizers. - The forecast points to steady growth in mining, infrastructure and agriculture, which could reshape demand for industrial chemicals through 2030. - The market is expected to reach $25.68 billion by 2030, equal to about 14% of the broader nitrogen fertilizer market and nearly 0.4% of the chemicals industry.

What happened: - The Business Research Company released its Ammonium Nitrate Market Report 2026, covering market size, trends and global forecasts for 2026-2035. - The report forecasts the global ammonium nitrate market will grow at a 5% CAGR leading up to 2030. - Asia-Pacific is projected to be the largest region in 2030, with market value of $10.4 billion. - The U.S. is projected to be the largest country in 2030, with market value of $4.2 billion. - High-density ammonium nitrate is expected to be the largest product segment in 2030, at 62% of the market, or $16 billion. - The report segments the market by product type into high density, low density and other product types. - The report also segments the market by application into fertilizers, explosives and other applications. - The report segments the market by end-user industry into agriculture, mining and other end-user industries.

The details: - Asia-Pacific is forecast to grow from $7.7 billion in 2025 to $10.4 billion in 2030, a 6% CAGR. - The region’s growth is linked to mining and quarrying demand, civil construction, infrastructure development, mineral extraction projects, industrialization and urbanization across emerging economies. - Countries highlighted in the regional outlook include China, India, Australia and Indonesia. - The U.S. market is forecast to rise from $3.6 billion in 2025 to $4.2 billion in 2030, a 3% CAGR. - U.S. growth is tied to surface mining, quarrying, controlled blasting, roadways, tunnels, civil engineering projects and agriculture demand for nitrogen-based fertilizer. - High-density ammonium nitrate is supported by use in blasting agents, rock fragmentation, quarrying and tunneling projects. - The high-density segment is projected to grow by $3 billion from 2025 to 2030. - The low-density segment is projected to grow by $2 billion over the same period. - The other product types segment is projected to grow by $0.2 billion over the same period. - The market’s key growth drivers include increased demand in mining and construction, rising demand for nitrate-based fertilizers and growing infrastructure development. - Increased demand in mining and construction is expected to contribute 2.3% annual growth. - Rising demand for nitrate-based fertilizers is expected to contribute around 2.0% annual growth. - Growing investments in infrastructure development are expected to contribute approximately 1.8% annual growth. - The report says the most significant growth opportunities are in high density, low density and other product types, with those segments together projected to add more than $5 billion by 2030. - The report’s 2026 edition includes market attractiveness scoring, TAM analysis, company scoring matrices, Excel-based forecasting dashboards, hotspot infographics, future trend analysis, and updated graphics and tables.

Between the lines: - The forecast suggests ammonium nitrate remains a dual-use market, with industrial and agricultural demand moving in parallel. - Asia-Pacific’s lead reflects broader industrial expansion and infrastructure buildout in emerging economies. - The U.S. remains the top single-country market because of its mature mining, construction and agricultural base. - The strong share of high-density product shows that blasting and excavation use cases still anchor the market’s value. - The company’s projections are estimates and not investment guidance, according to the report disclaimer.

What's next: - Demand growth will likely track mining output, infrastructure spending and fertilizer adoption through the rest of the decade. - The report points to continued opportunity in large-scale excavation, controlled blasting and bulk industrial consumption. - More information is available in the company's sample request page and the full market report.

The bottom line: - Ammonium nitrate is projected to keep growing through 2030, led by mining, construction and fertilizer demand, with Asia-Pacific and high-density product driving the market's biggest gains.