Gradually increasing demand for crop yields with growing population across the globe is dynamically impacting the Calcium Nitrate Market growth. According to the Food and Agriculture Organization (FAO), the farmland productivity needs to elevated by at least 15% to maintain the global food consumption. This will upscale the fertilizers demand boosting the calcium nitrate industry growth. According to Global Market Insights, Inc. “Calcium Nitrate Market size is estimated to witness a CAGR of 5.3% over the period of 2016-2024.” Furthermore, inadequate water infrastructure and declining fresh water resources in the emerging economies will generate growth of wastewater treatment chemicals market, which in turn will drive the calcium nitrate market growth. However, hygroscopic nature of the crystalline calcium nitrate and its listing in hazard class 5.1 chemical may pose a barrier to the growth.
U.S Calcium Nitrate Market size, by application, 2013-2024 (USD Million)
Calcium nitrate industry finds myriad application in fertilizers, explosives, concrete manufacturing, and wastewater treatment chemicals sectors. Nitrogen is an important ingredient of fertilizers which helps the plants in absorbing essential nutrients from soil. Moreover, it also helps in prevention of leaf diseases and in improving retention ability of the plants. Fertilizers are also extensively used in the agricultural production, and increasing demand for upscaling the crop yield will generate heavy gains for fertilizer application. The global calcium nitrate market size for fertilizers is projected to grow at a rate of 4.5% CAGR over the period of 2016-2024. The increase in the production of wheat, soybeans, and corns across the globe will further propel the nitrogenous calcium nitrate fertilizers.
Concrete manufacturing is another lucrative application in the calcium nitrate industry which was worth USD 900 million in 2015. Calcium nitrate is extensively used across the construction sites were concrete setting is required instantly. Moreover, calcium nitrate is also used in contemporary manufacturing to advance the concrete and handling properties.
Growing wastewater treatment plants is another money-making application for the expansion of the calcium nitrate market size. Calcium nitrate is used in wastewater disposal to prevent harmful bacteria, virus, and protozoa and it is also used in preventing odor. Rapid industrialization in India, China, Brazil, and Mexico is generating heavy adoptions for the wastewater disposal which is positively influencing the calcium nitrate market over the coming years. The wastewater treatment industry in these countries was worth USD 3 billion in 2008 and was raised to USD 7 billion in 2015. Furthermore, strict government norms towards wastewater disposal will drive the calcium nitrate industry share in the coming seven years.
Asia Pacific to dominate the regional landscape over the period of 2016-2024
Geographically, North America calcium nitrate market, led by U.S. was valued USD 1.5 billion in 2015. Increase in government budgets to improve and facilitate their defense forces and wide use of calcium nitrate in the explosive industry will fuel the regional growth.
Asia Pacific calcium nitrate market is anticipated to register a CAGR of 5.5% over the period of 2016-2024. The growth is mainly led by India, China, and Japan due to rapid industrialization in these regions will further enhance the industry share. Moreover, rising demand for fertilizers to keep up with the growing food demands of increasing population base is the key factor driving the regional growth.
The key players in the global calcium nitrate market Yara International ASA, UralChem Holding PLC, Rural Liquid Fertilizers, Agrium, Shanxi Jiaocheng Tianlong Chemical Industry Co.,Ltd, and Haifa.