According to the business intelligence report titled ‘Asia Pacific Ammonium Nitrate Market Size By End-user, By Product, Industry Analysis Report, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, Asia-Pacific ammonium nitrate market is anticipated to expand considerably during 2020-2026.
 

As per the report findings, rapid development in the agriculture sector as well as high-tech industries, coupled with increasing investments in the civil construction vertical are accelerating Asia-Pacific ammonium nitrate market expansion.
 

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Additionally, favorable government initiatives promoting infrastructural development, growing population, and rapid industrialization & urbanization are adding substantial traction to the market growth. Economic development in the region along with improving living standards are further enhancing Asia-Pacific ammonium nitrate market outlook.
 

Based on product terrain, high density ammonium nitrate (HDAN) segment is predicted to amass significant returns through 2026, fueled by escalating demand for fertilizers in agriculture sector. Moreover, HDAN is highly effective in wet climatic conditions and has purified and non-porous characteristics, which favors its adoption.
 

With regards to end-user landscape, Asia-Pacific ammonium nitrate industry size from the agriculture industry is estimated to expand at 4% CAGR over 2020-2027. Surging adoption of ammonium nitrate as a plant fertilizer, growing population, subsequent rise in food demand, and government initiatives aimed at spreading awareness regarding the benefits of using of fertilizers are fostering the segmental growth.
 

Considering the geographical outlook, South Korea, Indonesia, Malaysia, Australia, Japan, India, and China are the key contributors the industry growth.
 

Elaborating on competitive hierarchy, Deepak Fertilizers and Petrochemicals Corp Ltd. (DFPCL), Borealis AG, EuroChem Group AG, Ostchem Holding, CSBP Ltd., Yara International ASA, Austin Powder Co., Orica Ltd, Incitec Pivot Ltd., Fertiberia S.A., Abu Qir Fertilizers Co., San Corp., and Enaex S.A. are the top organizations operating in Asia-Pacific ammonium nitrate market sphere.