Calcium Nitrate Market Outlook: Rising food concerns and declining pure water sources to drive the industry growth over 2016-2024
Escalating food demand across the globe owing to rapid rise in the population is anticipated to boost Calcium Nitrate Market value over the next few years. As per Global Market Insights, Inc., report, “Calcium Nitrate Market revenue is expected to hit USD 12.6 billion by 2024. “ Booming wastewater treatment chemicals sector will further drive the industry revenue, owing to the ability of the chemical compound to reduce foul odor emissions. For instance, the wastewater treatment sector in Brazil, India, Mexico, and China, which was estimated at USD 3 billion in 2008, hit nearly USD 7 billion in 2015. The growth of the sector can be attributed to the relatively higher rise in wastewater pollutants, owing to a comparatively higher rate of industrialization in these countries. Furthermore, the rapid rate of industrialization across the globe resulting in the decline of pure water sources along with strict government norms related to wastewater pollutants disposal will boost calcium nitrate market size.
U.S Calcium Nitrate Market size, by application, 2013-2024 (USD Million)
The extensive usage of calcium nitrate in fertilizers to enhance the crop production will significantly add to calcium nitrate industry size over the coming timeframe. Global calcium nitrate market share in fertilizers is anticipated to register an annual growth rate of 4.5% over 2016-2024. Today, the use of calcium nitrate in fertilizers has risen, owing to the high worldwide demand for soybeans, wheat, and corns. For instance, the production of wheat across the globe in 2008 was estimated at nearly 680 million tons and reached up to 720 million tons in 2015.
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Calcium nitrate also finds applications in explosives, molten salts, concrete manufacturing, farming, cold packs, and latex coagulants. Calcium nitrate industry value from the concrete manufacturing sector, which was worth USD 900 million in 2015, is forecast to grow noticeably over the coming years. High demand for the chemical compounds across the construction sector for enhancing the concrete properties will drive the growth.
Geographical Trends pertaining to Calcium Nitrate Market over 2016-2024 are given below:
- North America Calcium Nitrate Industry size, which was estimated at USD 1.5 billion in 2015, will exhibit a massive expansion over the coming seven years. High application of chemical compounds in explosives coupled with rising government expenditure on defense activities will significantly contribute toward the business expansion. The U.S. is expected to make substantial contributions toward the regional share.
- Rising industrialization along with high requirement for increasing the crop production due to tremendous rise in population is expected to complement Asia Pacific calcium nitrate market growth, which is forecast to register an annual growth rate of 5.5 % over 2016-2024. Indonesia, China, and India are anticipated to be the key regional revenue pockets.
Market players will try to increase their profits by employing key business growth strategies such as high R&D investments and strategic mergers & acquisitions. Some of the key players of calcium nitrate market are Vardhaman Fertilizers and Seeds Private Limited, Haifa Group, Agrium Incorporation, Shanxi Jiaocheng Tianlong Chemical Industry Company Limited, Prathista Industries Limited, GFS Chemicals Incorporation, Rural Liquid Fertilizers, Sterling Chemicals Limited, Uralchem Holding PLC, Airedale Chemical, and Yara International ASA.
Author Name :Dhananjay Punekar