Calcium Nitrate market 2022 Future Challenges, SWOT Analysis 2030
Calcium Nitrate Market Overview
The calcium nitrate market is assessed to arrive at USD 7.5 billion before the finish of 2030 at a strong CAGR of 4.6%.
Calcium nitrate Ca(NO3)2, an inorganic compound, is also referred to as double salt and Norwegian saltpeter. It is an odorless compound that varies from white to gray and comes in granular form. It is highly soluble in water, highly hygroscopic and acts as an oxidizing agent. This compound is a colorless salt that absorbs moisture from the atmosphere and is found as a tetrahydrate. Calcium nitrate breaks down upon heating and releases nitrogen dioxide. This compound exists in several forms such as a mineral in nitrocalcite. Other related salts comprise calcium potassium nitrate decahydrate and calcium ammonium nitrate. According to a new report by Market Research Future (MRFR), the global market for calcium nitrate is expected a significant growth during the forecasted period.
An inorganic compound, Calcium nitrate is produced by applying nitric acid to limestone and is then treated with ammonia. Calcium nitrate is used in making explosives and as nitrogen fertilizer in the agriculture industry. It is also used in treating wastewater by eliminating the sulfate compound odor from water. Calcium nitrate is market ed for emulsion explosive for blasting in tunneling activities, quarries, and road construction.
Drivers and Restraints
With the rising global population, the growth of calcium nitrate market is positively impacted, owing to the growing trend for enforcing eco-friendly fertilizer technology and rising demand for food across the world. The Food and Agriculture Organization of the US has analyzed that farmland productivity will rise by approximately 15 % in the years to come to support food consumption globally. The nitrogenous calcium nitrate fertilizers are used in oilseeds and grains for the increasing production of corn, wheat and soyabean globally. Strict government mandates regarding wastewater treatment disposal in developed and developing areas shall boost the calcium nitrate market. Also, calcium nitrate which is used as admixtures for the production of concrete is expected to elevate the demand for the calcium nitrate market globally.
Meanwhile, certain health hazards associated with calcium nitrate might hinder the growth of the global market. Short-term exposure to calcium nitrate causes nausea, dizziness, redness in eyes, skin inflammation and headache. Long-term exposure to this compound can cause damage to the eyes even leading to loss of vision, severe irritation, breathing problem, mouth ulcers, choking, genetic disorders and mutation. Inhaling calcium nitrate can even damage the lungs.
Global Calcium Nitrate Market Segmentation
The global market for calcium nitrate can be segmented by application, process, and region.
The market can be segmented into reacting ammonium nitrate with calcium hydroxide, reacting the phosphate rock with nitric acid, and reacting limestone with nitric acid based on the type of process.
The market can be segmented into fertilizers, explosives, concrete admixture, wastewater treatment, and others based on application. Among them, fertilizers shall witness more market growth over the forecast period. Product-based fertilizers contain calcium and nitrogen which are vital for the plants to absorb important nutrients from the soil and helps in preventing leaf spot diseases. Also, flowering plants retain their flowers for a considerable amount of time with the addition of these fertilizers.
The market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America based on region.
Regional Analysis
Asia Pacific is leading the global market for calcium nitrate followed by North America and Europe. Asia Pacific is emerging as a prominent market for wastewater treatment and fertilizers. Due to urbanization and industrialization, water quality is becoming an important issue in this region. Treating both municipal corporation water and industrial water is rising, which is strengthening the market. Moreover, due to rise in population specifically in India and China, the demand for food is increasing. Fertilizers are used to improve the productivity and quality of crops, thereby propelling the calcium nitrate market.
With the increasing budget in defense in North America, the market in the explosive application is also expected to boom during the forecast period. Europe holds 45 % of the total calcium nitrate consumption in terms of fertilizers application. The renovation sector in Europe is also expected to witness a stronger growth which will drive the market in concrete admixture application.
With the growing construction industry, the Middle East region is also expected to witness significant growth in the years to come. Also, Qatar, UAE, and Saudi Arabia will be leading the market over the forecasted period. Moreover, Latin America is expected to showcase due to ongoing programs related to collect and treat wastewater.
Competition Analysis
Some of the prominent players operating the calcium nitrate industry are ADOB, Nutrien Ltd., Yara International, Sterling Chemicals., GFS Chemicals, Inc. and more.
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