Global Calcium Nitrate Market is forecast to exceed USD 12.6 billion; according to a new research report.
Increasing popularity of calcium nitrate-based fertilizers shall propel the global product demand over the forecast period. On account of increasing health awareness and government initiatives, farmers across the globe are shifting towards product-based fertilizers, instead of urea and ammonia-based plant growth stimulators. Fertilizers were the largest application segment in calcium nitrate market in 2017 and shall grow with highest CAGR over the forecast timespan. This can be attributed to the high product usage in the producing fertilizers. The high solubility of the product makes it popular source of nitrate and calcium for the plants.
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Explosives was the second largest product consumer in 2017 and its usage in explosives is likely to grow with a prominent CAGR during the forecast timespan. Explosives made from calcium nitrate offer good transportation ability, low fumes and enhanced safety in handling.
However, health hazards related to the calcium nitrate are likely to hamper its demand over the forecast period. Its contact can irritate and burn skin and eyes, exposure to it can cause headache, dizziness, nausea and vomiting. These health risk factors are likely to hamper the product demand to some extent during the forecast period.
Agriculture grade calcium nitrate will be expanding with substantial gains over the forecast timeframe due to its versatile characteristics such as high solubility and easy availability in the market. It is source of calcium and nitrogen for plants. Calcium is an important component of cell walls and proper supply of calcium is essential to plant development. It helps in protecting plants from stress and diseases along with improving fruit quality & shelf life and strengthening cell wall.
Explosives application segment held a prominent share in global calcium nitrate market in 2017 and is likely to grow with a healthy CAGR in next few years. Most of the homemade explosives are made by using calcium nitrate. Fertilizers created a major chunk of product demand in 2017 and shall expand with highest growth rate over the forecast timespan. This can be attributed to the increasing product usage as a substitute to the urea and ammonia in fertilizers.
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Latin America will be the fastest growing region in calcium nitrate market during the forecast period, as agriculture sector in the region is registering a rapid growth in product demand since past few years. North America was the second largest calcium nitrate market share holder in 2017 and forecast to grow with a prominent CAGR. This can be attributed to the large agriculture and wastewater treatment industries in this region. Due to massive wastewater treatment industry in this region along with prevalence of prominent industries, the region will exhibit decent growth in the coming years.
Calcium nitrate market is highly diversified as many multinational players and local vendors are functional in the industry. Some prominent players operating in the industry includes Yara International, Swiss Formulations India, GFS Chemicals Inc., Haifa Chemicals Ltd., Agrium Inc., Shanxi Jiaocheng Tianlong Chemical Industry Co., Ltd., Rural Liquid Fertilizers, Uralchem Holding PLC, Sterling Chemicals, Prathista Industries Limited, Vardhaman Fertilizers and Seeds Pvt Ltd.
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