Calcium Nitrate Market Size to Reach $ 1,130.94 Mn by 2028 at 3.6% CAGR with Fertilizers Segment Driving Growth During 2021–2028 | The Insight Partners
The global calcium nitrate market is driven by the constant demand from fertilizer manufacturers, which serves as a key factor in propelling its growth. Notably, the market has experienced a significant contribution from the Middle East and Africa region, with a valuation surpassing US$ 35-40 million in 2022. Projections indicate that the market value in this region is expected to reach US$ 40-45 million by 2030.
Pune, India, July 12, 2023 (GLOBE NEWSWIRE) -- According to our new research study on “Calcium Nitrate Market Size Report, Share, Demand, Growth Strategy, Industry Trends, and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application, and Geography,” the calcium nitrate market size is expected to grow from US$ 882.03 million in 2021 to US$ 1,130.94 million by 2028; it is estimated to grow at a CAGR of 3.6% from 2021 to 2028. The projected growth of the market is attributed to the wide range of applications for calcium nitrate and growing demand for calcium nitrate from fertilizer manufacturers.
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*Global Calcium Nitrate Market: Competitive Landscape and Key Developments*
The key players operating in the global calcium nitrate market include Nutrien; Yara international ASA; Sterling Chemicals Company; GFS Chemicals, Inc.; Haifa Group; Uralchem holding PLC; Rural Liquid Fertilisers; Shanxi Jiaocheng Tianlong Chemical Industry Co.,Ltd.; ProChem, Inc; Van Iperen International are operating in the global calcium nitrate market focus on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities and new product launches.
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*Calcium Nitrate Market Report Scope, Segmentations, Regional & Country Scope:*
Report Coverage Details
Market Size Value in US$ 882.03 Million in 2021
Market Size Value by US$ 1,130.94 Million by 2028
Growth rate CAGR of 3.6% from 2021-2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 145
No. of Tables 57
No. of Charts & Figures 87
Historical data available Yes
Segments covered Application
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Companies Covered Nutrien; Yara international ASA; Sterling Chemicals Company; GFS Chemicals, Inc.; Haifa Group; Uralchem holding PLC; Rural Liquid Fertilisers; Shanxi Jiaocheng Tianlong Chemical Industry Co.,Ltd.; ProChem, Inc; Van Iperen International
In 2021, Asia Pacific held the largest share of the global calcium nitrate market. India, Japan, and China are among the major markets for calcium nitrate in the Asia Pacific region. The calcium nitrate industry in the countries of Asia Pacific has experienced a massive shift over the years. Countries like India, China, Indonesia, the Philippines, Vietnam, Thailand, and others have a significantly growing agriculture sector. The demand for fertilizers in crop production would also increase in the coming years, thereby driving the calcium nitrate market growth in the region.
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*Wide Range of Applications for Calcium Nitrate*
Calcium nitrate is produced in granulated form and is mostly used as a nitrogen fertilizer in agriculture. Calcium has many important benefits for plants. It improves cell wall strength, which leads to higher-quality fruits with a longer shelf-life. Calcium also increases heat tolerance and helps to reduce the amount of heat stress experienced by plants in warmer climates. It's also used in odor-prevention wastewater pre-conditioning and set-accelerating concrete admixtures. In wastewater treatment processes, the compound induces anoxic biology in wastewater treatment to inhibit the metabolic generation of odor-creating components such as hydrogen sulfide, thus eliminating foul odors. It also induces autotrophic denitrification that aids in the biological dissolution of sulfide in septic wastewater. Increase in the usage of calcium nitrate in various applications is further boosting the calcium nitrate market growth.
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*Calcium Nitrate Market: Segmental Overview*
Based on application, the calcium nitrate market is segmented into fertilizers, wastewater treatment chemicals, concrete manufacturing, explosives, and others. The calcium nitrate market share for the fertilizers segment was the largest in 2021. Calcium nitrate is a complex, water-soluble fertilizer constituting 15.5% nitrogen (N) in a readily available form and 18.5% calcium (Ca). Calcium is one of the secondary nutrients required for crop production. It helps improve fruit color, luster, and consistency; soil structure and water penetration; and crop’s pest and disease resistance. Calcium nitrate fertilizers are the only water-soluble source of calcium available for plants. It can be used as a fertilizer as well as a disease control agent. The compound helps stabilize cell growth as well as boosts protein and leaf production by promoting cell formation. It also helps in the detoxification of plants by neutralizing acids. A few crops, especially fruiting ones such as tomatoes, may suffer from calcium deficiency due to heat and moisture stress; calcium nitrate is applied to such crops for nourishment, as well as disease prevention and treatment. Furthermore, many manufacturers are offering calcium nitrate fertilizers which improve crop quality. The calcium nitrate market growth is impacted by the increase usage of calcium nitrate for cement and concrete applications.
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*Impact of the COVID-19 Pandemic on Calcium Nitrate Market*
The COVID-19 pandemic severely impacted various economies across the globe. The pandemic significantly hampered the growth of the calcium nitrate market due to adverse effects on the growth of the building & construction industry. North America is one of the significant regions for the adoption and growth of advanced technologies due to favorable government policies to accelerate innovation, a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region negatively. Owing to the rise in COVID-19 cases, various conferences—which are a medium to share information related to the latest technologies, product innovations, and trends in relevant markets; and help the companies to realign their strategies—have been postponed or cancelled. Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak. In Europe, currently, the UK and Russia, followed by France, Spain, Italy, and Germany, are the hardest-hit countries by the COVID-19 pandemic. These countries are estimated to suffer an economic hit due to the lack of revenue from various industries. The member states of Europe, such as the UK, Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit coronavirus spread among its citizens.
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Boron Fertilizers Market- The boron fertilizers market was valued at US$ 2,272.48 million in 2020 and is projected to reach US$ 4,316.08 million by 2028; it is expected to grow at a CAGR of 8.4% from 2021 to 2028.
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