Sellbyville, DE -- (SBWire) -- 03/02/2019 --Asia Pacific is a significant calcium nitrate market with expected growth of 5.5% CAGR during the forecast period. The growth in this region will be chiefly augmented by rising fertilizer demand in highly populated countries like India and China. Rapid industrialization will also contribute to the industries growth in this region as it will increase wastewater treatment plants leading to heightened product demand.
North America calcium nitrate market value in 2015 exceeded USD 1.5 billion. Increased defense spending in this region, led by the U.S., will increase demand for the product in the explosives industry and will drive the market in the forecast period.
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Calcium Nitrate Market will likely surpass USD 14.7 billion by 2024 according to this new research report. Rising worldwide demand for grain crops will be the chief factor driving the global calcium nitrate market owing to the products use in fertilizers. Growth of population has resulted in a sharp increase in food demand across the globe.
The global calcium nitrate market share is touted to soar high in the coming years primarily propelled by the increasing prominence of wastewater treatment across the globe coupled with growing healthcare & pollution control initiatives. As per estimations by the United Nations, the amount of wastewater generated yearly is about 1,500 km3, which is six times more than the water that exists in all the rivers across the world. Over the past decade, due to the rise in industrial pollution optimum management of wastewater has emerged as a major challenge for governments worldwide. According to the World Health Organization, unsafe or insufficient water, hygiene, and sanitation issues cause approximately 3.1% of all global deaths, and 3.7% of DALYs (Disability Adjusted Life Years) globally.
Calcium Nitrate Market by Application
o Fertilizers
o Wastewater treatment chemicals
o Concrete manufacturing
o Explosives
As arable land in most countries is decreasing every year, farmers and governments are taking initiatives to increase the yield per unit are of land to boost productivity. Global arable land per person decreased from 0.201 hectares in 2010 to 0.196 hectares in 2014. To counter this continuous decrease, the yield of farmland needs to be boosted and this will increase fertilizer demand across the globe which will in turn propel the calcium nitrate market in the forecast timespan.
Some of the key organizations having a significant foothold of the calcium nitrate market are Airedale Chemical, Vardhaman Fertilizers & Seeds Pvt. Ltd., Agrium Inc., Yara International ASA, Rural Liquid Fertilisers, Haifa Chemicals Ltd, and GFS Chemicals, Inc. These organizations, as is observed, have been working to expand their manufacturing capacities, geographical reach, and have also been introducing new business units, particularly across developing economies, such as the ones in the Asia Pacific where labor and property costs are economical. Citing an example of industrial expansion, in 2017, Haifa Chemicals Limited launched its new business subsidiary in Colombia called the Haifa Colombia SAS. The new facility reportedly provides plant nutrition solutions to distributors in the local periphery, helping the firm in establishing itself in the Colombia market.
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Calcium nitrate market is divided into five application segments including fertilizers, concrete manufacturing, wastewater treatment, explosives, and other applications. Fertilizer segment has a significant share of the overall market and is expected to gain by CAGR above 4.5% till 2024. The segments growth will be propelled by rising food crops demand and decreasing arable land leading to a heightened fertilizer demand.
Concrete manufacturing application segment also has a substantial share of the overall calcium nitrate market. In 2015, this segment registered revenue approximating USD 900 million and its growth will be augmented by increased construction activities in developed nations of Asia Pacific, Latin America and Middle East & Africa.
Fertilizers
Calcium nitrate market size from fertilizers has been exponentially surging over the last few years due to increasing consumer efforts pertaining to improving yield quality and boosting profitability from agricultural trade. Some of the major contenders of the calcium nitrate fertilizer market have been constantly reinventing & innovating their crop nutrition portfolios to deliver increased crop yield and improved crop quality with minimum environmental impact.
Expounding the lucrative opportunities for the calcium nitrate market in Europe
Over the last few years, European countries have been recovering from a financial downturn which had upset the global economic structure. Growing industrial and technology sectors have paved the way for building modern, more efficient structures in addition to developing renewable energy grid networks.
Global calcium nitrate market is fragmented in nature with key industry participants including Shanxi Jiaocheng, Agrium Inc., Tianlong Chemical Industry, Uralchem Holding PLC, Haifa Group, Rural Liquid Fertilizers (RLF), Sterling Chemicals and Yara International ASA. Companies are trying to gain competitive advantage in the calcium nitrate market through acquisitions and mergers along with R&D investments to produce new and better grades of the product.
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At 5.3% CAGR, Calcium Nitrate Market to Reach $12.6 Bn by 2025: GFS Chemicals, Haifa Group, Agrium, Yara International, UralChem, RURAL LIQUID FERTILISERS PTY LTD
Asia Pacific calcium nitrate market will be growing with maximum CAGR over the forecast timeframe. Europe is the third-largest consumer of calcium nitrate with large end-user industries.