Calcium Nitrate Market size is mainly driven by escalating gain crop demand globally. Rising populations is anticipated to complement food demand substantially.
Calcium Nitrate Market size is poised reach USD 12.6 billion by 2024; according to a new research report by Global Market Insights, Inc.
These factors will drive fertilizers demand significantly in order to increase the crop yield. The product is extensively used in fertilizers for wheat, corn and soybeans. These crops are experiencing high demand in the recent years; for instance, in 2008, the overall wheat production was approximately 680 million tons and was close to 720 million tons in 2015. Farmers will need to upscale crop yield by more than 15% over the forecast timeframe to meet the increasing food grain demand, this will create industry growth opportunities for fertilizers.
U.S Calcium Nitrate Market size, by application, 2013-2024 (USD Million)
Strong wastewater treatment industry outlook is another growth prospect for the global calcium nitrate market size over the forecast timeframe. The product is widely to control suspended solid residue and prevent in spreading harmful virus, bacteria and protozoa. Robust industrialization has subsequently decreased the clean water resources.
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Wastewater disposal is relatively high in China, India, Brazil and Mexico die to inclining industrialization in these countries. In 2008, the wastewater treatment business in these countries was valued at over 3 billion and was close to USD 7 billion in 2015. Stern environmental legislations across the globe towards wastewater disposal accompanied with various hazards synced with polluted water will positively influence the industry growth by 2024.
The product possesses hygroscopic characteristics and absorbs atmospheric moisture. Hence, the product based fertilizers are not desirable for land with insufficient water. Also, these fertilizers have the tendency to melt within the transportation bags, making it inappropriate for long distribution during the monsoon and it also reduces the product shelf life. The product transportation is strictly directed and controlled by government authority and is classified as a hazardous product. These factors are likely to restrict the global calcium nitrate market size by 2024. However, increasing product usage in construction material including concrete and explosives will boost industry growth.
Browse key industry insights spread across 112 pages with 89 market data tables & 12 figures & charts from the report, “Calcium Nitrate Market Size By Application (Fertilizers, Wastewater Treatment Chemicals, Concrete Manufacturing, Explosives) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC) Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key insights from the report include:
- Global calcium nitrate market size is set to reach USD 12.6 billion by 2024, with projected gains at above 5% CAGR.
- Calcium nitrate market size for fertilizers could experience over 4.5% gains by 2024. Nitrogen is the main constituent of calcium nitrate fertilizers, which helps the plants in absorbing vital soil nutrients. It also the helps in increasing the flowers retention ability of plants.
- In 2015, calcium nitrate market share for concrete manufacturing generated revenue more than USD 900 million. It is used to enhance the concrete characteristics and is ideal across construction sites were immediate concrete setting is required.
- In 2015, North America, dominated by the U.S., was valued at over USD 1.5 billion. The product is widely used in the explosives industry owing to boost regional calcium nitrate market size.
- Asia Pacific, led by China, India, and Indonesia, dominated the global calcium nitrate market share in 2015. The growth was principally attributed to the robust industrialization and escalating construction.
- In 2015, the global calcium nitrate market was highly fragmented. The product manufacturer contributing the business share are Shanxi Jiaocheng Tianlong Chemical Industry, Agrium, Haifa, Rural Liquid Fertilizers, Sterling Chemicals, Uralchem Holding and Yara International ASA.
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