Report : Calcium Nitrate Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Fertilizers, Wastewater Treatment Chemicals, Concrete Manufacturing, Explosives, and Others)
Increase in Infrastructural Activities Worldwide Escalates Calcium Nitrate Market Growth
According to our latest study on “Calcium Nitrate Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Application (fertilizers, wastewater treatment chemicals, concrete manufacturing, explosives, and others),” 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. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
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. Further, calcium improves cell wall strength, which leads to higher-quality fruits with a longer shelf-life. It also increases heat tolerance and helps reduce the impact of heat stress experienced by plants in warmer climates. According to the Food and Agriculture Organization (FAO), the population dependent on agriculture as an occupation accounts for 67% of the overall population. China possesses 7% of the world's arable land, which allows it to feed 22% of the world's people. Such high dependence and critical role of population in world’s livelihood is a major factor boosting the growth of the market for fertilizers, including calcium nitrate.
Calcium nitrate is also used in concrete and explosive manufacturing, as well as in wastewater treatment. In addition, the compound is actively used to suppress the formation of odor in sewer networks and municipal wastewater treatment plants. In wastewater treatment plants, the compound induces anoxic biology to inhibit the metabolic generation of odor-creating components such as hydrogen sulfide, thus eliminating foul odors. The world's population has grown tremendously in the last few decades, and people have migrated from rural areas to urban areas at a large scale. This has resulted in a huge increase in demand for appropriate sanitation systems and safe drinking water supply. Thus, with the escalating population and urbanization, government authorities are focusing on providing effective sanitation and drinking water facilities to populations, which would propel the demand for calcium nitrate in the coming years.
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; and Van Iperen International are among the well-established players in the global calcium nitrate market.
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. These conditions are also hindering the calcium nitrate market growth due to disrupted production and supply chains, hampered trade movements, and lowered demands, as well as suspension of new projects. The disturbed value chain has had a negative impact on raw material supply. However, as the economies are planning to revive their operations, the demand for calcium nitrate is expected to rise globally in the coming months.
The report includes the segmentation of the global calcium nitrate market as follows:Calcium Nitrate Market, by Application