Calcium Nitrate Market Size to Hit USD 1,130.94 million by 2028

November 15 19:06 2021
Calcium Nitrate Market to Grow at a CAGR of 3.6% from 2021 to 2028. In 2020, Asia Pacific accounted for the largest share of the global market.

According to our latest study on “Calcium Nitrate Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application” the market 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 shipment of calcium nitrate market shipment is expected to grow from 2, 259.51 Kilo Tons in 2021 to 2,727.65 Kilo Tons by 2028, at a CAGR of 2.7% from 2021 to 2028.

Strategic Insights 

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. 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

 

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Calcium nitrate is synthesized chemically by treating limestone with nitric acid, followed by neutralizing the outcome with ammonia. Calcium nitrate is produced in a granulated form and is mostly used as a nitrogen fertilizer in agriculture. The calcium nitrate-based fertilizers help enhance the uptake of magnesium, potassium, and calcium from the soil; improve the yield and quality of crop; extend the storage life of fruits; and build up resistance to diseases and pests. Calcium nitrate is also used for in manufacturing concrete, explosives, and wastewater treatment chemicals. In addition, it is actively used to suppress the formation of odor in sewer networks and municipal wastewater treatment.

Growing Demand for Calcium Nitrate from Fertilizer Manufacturers to Boost the Global Calcium Nitrate Market

Agriculture is an important component of the global economy. Agriculture is the primary source of employment, income, and food, and it meets these basic needs throughout the world. The population dependent on agricultural as an occupation accounts for 67% of the overall population, according to the Food and Agriculture Organization (FAO). China possesses 7% of the world’s arable land, which allows it to feed 22% of the world’s people. As the agricultural population develops, so does the demand for calcium nitrate. Calcium nitrate fertilizer plays an essential role in the production of high-quality crops by promoting plant development. It contains both nitrate nitrogen and calcium, two of the most important nutrients for plants. It is one of the best choices for fertilizing any plantation, type of soil, and weather situation.

Rising demand for calcium nitrate from fertilizer manufacturers is expected to provide growth opportunities for the calcium nitrate industry

Impact of COVID-19 Pandemic on Calcium Nitrate Market

As of May 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst-affected countries in terms COVID-19 cases and deaths. The pandemic and the subsequent lockdowns, travel bans, and business shutdowns have severely impacted economies and industries in a number of countries. Chemicals & materials is one of the significant industries experiencing severe disruptions. The discontinuation of operations at manufacturing plants in North America, Europe, and APAC has hampered the global supply chains, as well as manufacturing processes, distribution schedules, and product sales.

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Calcium Nitrate Market: by Application

Based on application, the calcium nitrate market is segmented into fertilizers, wastewater treatment chemicals, concrete manufacturing, explosives, and others. In 2020, the fertilizers segment dominated the market. Further, 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.

Calcium Nitrate Market: Competitive Landscape and Key Developments

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 among the major market players operating in the calcium nitrate market. These companies offer their products worldwide, which helps them in catering to a wider customer base. These major players in the market are highly focused on the development of high quality and innovative products to fulfill the customer’s requirements. Over the past few years, the companies operating in the market have realized the immense potential pertaining to the calcium nitrate market and were highly involved in strategies such as mergers & acquisition and product launch. For instance, Haifa Group signed an agreement with AgrIOT. According to the agreement with AgriOT, Haifa will invest about $2 million in AgrIOT in exchange for nearly 30% of the company. AgrIOT technology can help farmers save money in the future by making the identification process more efficient and accurate and allowing for more regular monitoring of progress.

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The size of overall global calcium nitrate market has been derived using both primary and secondary source. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the calcium nitrate market.

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