Asia Pacific Ammonium Nitrate Market is Projected to Reach USD 39.96 billion by 2032: Astute Analytica [Yahoo! Finance]
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Source: Yahoo! Finance
Focus will intensify on safer, more efficient fertilizer use, potentially leading to gradual shifts towards alternatives while also driving innovation in ammonium nitrate application and formulation. New Delhi, March 04, 2024 (GLOBE NEWSWIRE) -- Asia Pacific ammonium nitrate market is projected to generate a revenue of US$ 39.96 billion in 2032 from US$ 27.12 billion in 2023 at a CAGR of 4.4% during the forecast period 2024–2032. This growth of the ammonium nitrate market is driven by the region's massive agricultural field, heavily reliant on ammonium nitrate for nitrogen fertilizer. The rising population in countries like China and India, combined with the need to keep food security high, increases the demand for higher crop yields. Aside from farming, mining is a huge consumer of ammonium nitrate in places like Australia, India, and China. This chemical helps make explosives that are necessary for mining operations. As industrialization rises across the region so does the deman
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