In the Asian market, Ammonium Nitrate prices initially remained stable but decreased due to falling feedstock ammonia and coal costs, despite steady demand. European prices declined due to oversupply, low ammonia prices, and weak demand. North America also experienced plummeting prices due to sluggish fertilizer industry demands, alongside falling ammonia and nitric acid prices. Overall, global Ammonium Nitrate markets faced downward price trends, impacted by decreased feedstock costs, oversupply, and subdued demand in various regions during the first half of 2023.
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Definition
Ammonium nitrate is a chemical compound with the formula NH₄NO₃. It is a white crystalline solid that is widely used as a fertilizer due to its high nitrogen content, which promotes plant growth. Additionally, ammonium nitrate has applications as an explosive in the mining and construction industries due to its ability to rapidly release a large amount of gases upon detonation. However, its explosive properties have also led to its regulation and controlled use to prevent misuse for destructive purposes. The compound's versatility in both agricultural and industrial sectors makes it a significant component in various applications.
Key Details About the Ammonium Nitrate Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Ammonium Nitrate in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Ammonium Nitrate Price chart, including India Ammonium Nitrate price, USA Ammonium Nitrate price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Ammonium Nitrate Price Trend:
Ammonium nitrate has diverse industrial applications. Its high nitrogen content makes it a prominent component in fertilizers, enhancing soil fertility and promoting plant growth. In the explosives sector, it's a key ingredient in formulations used for mining, quarrying, and construction due to its ability to rapidly generate gases upon detonation. Ammonium nitrate is also utilized in the production of cold packs, as it absorbs heat when dissolved in water, causing a cooling effect. Its role in the chemical industry includes serving as an intermediate in the synthesis of various compounds. However, its explosive nature necessitates careful handling and regulation to prevent misuse.
Key Players:
- EuroChem Group AG
- VWR International, LLC
- Yara International ASA
- CF Industries Holdings, Inc
- Sumitomo Chemical Co., Ltd.
- San Corporation
- PhosAgro Group of Companies
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