Market Trends of Calcium Nitrate Industry
This section covers the major market trends shaping the Calcium Nitrate Market according to our research experts:
Fertilizers Segment to Dominate the Market Growth
- Calcium nitrate is an inorganic compound produced by treating limestone with nitric acid, then by neutralization with ammonia, and used for various applications such as fertilizers, explosives, concrete, refrigerant, etc.
- Calcium nitrate manure is a multi-functional compost that can be used in taking care of plants just as treating or preventing disease, especially among fruiting plants. It contains calcium and nitrogen and can treat plants with insufficiencies in these supplements.
- It includes wider applications in horticulture as it improves fruit quality and is less sensitive to bitter pit and blossom end rot and shelf-life. Additionally, it is also suitable for foliar applications.
- An exponentially growing population and ever-increasing demand for food necessitate using more fertilizers to increase the yield per hectare, which increases pressure on dwindling farmlands.
- With the increasing global nitrate production, the consumption of calcium nitrate in fertilizer also increases. According to International Fertilizer Association, Russia produced the largest amount of nitrogen in 2021, and its domestic consumption to 2.5 million tons of nitrogen(AN/CAN).
- The United States followed Russia with a total domestic nitrogen consumption of 2.6 million tons and an export of 0.2 million tons in 2021. Thus, increasing nitrogen production leads to growth in fertilizer production, supporting the market growth during the forecast period.
- Hence, owing to the abovementioned factors, the application of calcium nitrate from fertilizers will likely dominate during the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for calcium nitrate during the forecast period. The rising demand for fertilizers from agriculture and growing application in wastewater treatment facilities in developing countries like China, Japan, and India is expected to drive the demand for calcium nitrate in this region.
- The largest producers of calcium nitrate are located in the Asia-Pacific region. Some leading companies in the production of calcium nitrate are URALCHEM JSC, Shanxi Jiaocheng Tianlong Chemical Industry Co. Ltd., Yara, GFS Chemicals Inc, and Rural Liquid Fertilizers, among others.
- With rising living standards and the expansion of the middle class, imports of horticultural products in China have also increased significantly in recent years, with Chinese consumers being pickier regarding the quality and variety of products offered.
- According to the National Bureau of Statistics of China, the production volume of chemical fertilizer (including nitrogen, phosphate, and potash fertilizer) in the country amounted to 55.44 million tons in 2021, representing an increase of 0.9 % compared to 2020.
- Moreover, according to the Fertiliser Association of India, the production of fertilizer nutrients amounted to 43,743 kilotons for FY 2021-22, representing an increase of more than 5% compared to FY2017-18. Therefore, with the increasing fertilizer production, the consumption of calcium nitrate also increases, thus supporting the market growth significantly.
- Owing to the abovementioned factors, the Asia-Pacific region's calcium nitrate market is projected to grow significantly during the study period.
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