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Global calcium nitrate market growth is fueled by growing segment in Concrete manufacturing

Author : Ronak Bora | Published Date : 2019-03-20 

Calcium nitrate market is divided into five application segments including fertilizers, concrete manufacturing, wastewater treatment, explosives, and other applications. Fertilizer segment has a significant share of the overall market and is expected to gain by CAGR above 4.5% till 2024. The segments growth will be propelled by rising food crops demand and decreasing arable land leading to a heightened fertilizer demand. Concrete manufacturing application segment also has a substantial share of the overall calcium nitrate market. In 2015, this segment registered revenue approximating USD 900 million and its growth will be augmented by increased construction activities in developed nations of Asia Pacific, Latin America and Middle East & Africa.

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Global calcium nitrate market will also be augmented by the products usage in water treatment to eliminate odor. High industrial growth and increase in population has led to a sharp decrease in clean and potable water resources in many areas. This has heightened the need for industrial as well as municipal wastewater treatment. Countries witnessing high industrial growth such as China, Brazil, India, etc. are more at risk from contaminated water and are investing heavily in water treatment plants. Stringent government regulation regarding the disposable of industrial wastewater coupled with increasing demand for wastewater treatment plants will contribute to the global calcium nitrate market during the forecast timespan.

Calcium Nitrate Market will likely surpass USD 14.7 billion by 2024 according to this new research report. Rising worldwide demand for grain crops will be the chief factor driving the global calcium nitrate market owing to the products use in fertilizers. Growth of population has resulted in a sharp increase in food demand across the globe. As arable land in most countries is decreasing every year, farmers and governments are taking initiatives to increase the yield per unit are of land to boost productivity. Global arable land per person decreased from 0.201 hectares in 2010 to 0.196 hectares in 2014. To counter this continuous decrease, the yield of farmland needs to be boosted and this will increase fertilizer demand across the globe which will in turn propel the calcium nitrate market in the forecast timespan.

Due to its hygroscopic nature, it is difficult to store and transport the product and a lot of water is also needed in farmlands where fertilizers based on the product are used. The product is also classed as a chemical hazard and its transportation is regulated by various agencies and organizations. These factors may hamper the global calcium nitrate market during the forecast timespan as market participants may look towards other safer substitutes of the product.

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Asia Pacific is a significant calcium nitrate market with expected growth of 5.5% CAGR during the forecast period. The growth in this region will be chiefly augmented by rising fertilizer demand in highly populated countries like India and China. Rapid industrialization will also contribute to the industries growth in this region as it will increase wastewater treatment plants leading to heightened product demand. North America calcium nitrate market value in 2015 exceeded USD 1.5 billion. Increased defense spending in this region, led by the U.S., will increase demand for the product in the explosives industry and will drive the market in the forecast period.

Global calcium nitrate market is fragmented in nature with key industry participants including Shanxi Jiaocheng, Agrium Inc., Tianlong Chemical Industry, Uralchem Holding PLC, Haifa Group, Rural Liquid Fertilizers (RLF), Sterling Chemicals and Yara International ASA. Companies are trying to gain competitive advantage in the calcium nitrate market through acquisitions and mergers along with R&D investments to produce new and better grades of the product.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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