The calcium nitrate market is expected to grow at a CAGR of over 3% during the forecast period. Major factor driving the market studied is growing demand of calcium nitrate from fertilizers. On the flip side, increasing use of organic-based fertilizers and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- Increasing need of waste water treatment facilities is forecasted to offer various opportunities for the growth of the market over the forecast period.
- Calcium nitrate from fertilizer application is expected to dominate the market studied over the forecast period.
- Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
Key Market Trends
Growing Demand of Calcium Nitrate from Fertilizers
- Calcium nitrate, is an inorganic compound which is produced by treating limestone with nitric acid, followed by neutralization with ammonia and used for various applications such as fertilizers, explosives, concrete, refrigerant, etc.
- Calcium nitrate manure is a multi-functionnal compost which can be used in taking care of plants just as treating or preventing disease, especially among fruiting plants. It contains both calcium and nitrogen and can, accordingly, be utilized to treat plants that have insufficiencies of both of these supplements.
- It has wider applications in horticulture as it improves fruit quality and is less sensitive to bitter pit and blossom end rot and shelf-life. Additionally it is also suitable for foliar applications.
- Exponentially growing population and ever-increasing demand for food necessitate the use of more fertilizers to increase the yield per hectare, which in turn increased pressure on dwindling farmlands.
- Hence, owing to the above-mentioned factors, the application of calcium nitrate from fertilizers is likely to dominate during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for calcium nitrate during the forecast period. The rising demand of fertilizers from agriculture and growing application in waste water treatment facilities in developing countries like China, Japan and India is expected to drive the demand for calcium nitrate in this region.
- The largest producers of calcium nitrate located in Asia-Pacific region. Some of the leading companies in the production of calcium nitrate are URALCHEM JSC, Shanxi Jiaocheng Tianlong Chemical Industry Co. Ltd., Yara, GFS Chemicals Inc, and Rural Liquid Fertilizers among others.
- Asia - Pacific accounts for 60% of the fertilizer market. South Asia and East Asia are the major fertilizer consumers in Asia and India being the second-largest consumer of fertilizers in the world with an annual consumption of more than 55 million metric tons.
- With rising living standards and the expansion of the middle class, imports of horticultural products in China have also increased significantly in recent years with Chinese consumers being pickier regarding the quality and variety of products offered to them.
- Owing to the above-mentioned factors, the market for calcium nitrate in the Asia-Pacific region is projected to grow significantly during the study period.
The global calcium nitrate market is partially consolidated in nature with only few major players dominating the market. Some of the major companies are URALCHEM JSC, Shanxi Jiaocheng Tianlong Chemical Industry Co. Ltd., Yara, GFS Chemicals Inc, and Rural Liquid Fertilizers among others.
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