Asia Pacific Ammonium Nitrate Market Poised for Growth, Driven by Agriculture and Mining Demand
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Asia Pacific ammonium nitrate market projected to reach $39.96 billion by 2032, driven by agriculture and mining sectors.
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China is the largest market, accounting for 38.9% of the regional share in 2023.
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Fertilizers make up over 78% of ammonium nitrate demand; prill form is the most popular at 49.7% market share.
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Volatile pricing and shifting regulations pose challenges to steady market growth.
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Southeast Asia emerging as an important growth market due to expanding agriculture.