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. Increasing demand to produce adequate food coupled with growing concerns of arable land across the globe and rapid growth in population has continuously encouraged the adoption of quality fertilizers to secure the food demand.