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Calcium Nitrate Market worth $12.36 bn by 2021

Calcium Nitrate Market
Calcium Nitrate Market

According to the report, published by Zion Market Research global demand for calcium nitrate market was valued at USD 9.05 billion in 2015 is expected to reach USD 12.36 billion in 2021 and is anticipated to grow at a CAGR of 5.4% between 2016 and 2021. The global calcium nitrate market stood at 15,215.40 kilotons in 2015.

Calcium nitrate is a colorless salt produced by treating limestone with nitric acid. It also obtains during the absorption of nitrogen oxide by the milk of lime. Calcium nitrate is mainly used as a component in fertilizers but has other applications. Calcium nitrate prevents odor in wastewater by creating an anoxic biology, which stops the metabolism of odor-producing sulfates.

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The calcium nitrate market is expected to witness noticeable growth is the years to come owing to gradually increasing global demand for grain crops coupled with strong demand for wastewater treatment in emerging economies is anticipated to fuel demand for calcium nitrate. According to the United Nations Environment Program (UNEP), about 200,000 people are added to the world food demand every day.  Water quality is emerging as an important issue in developing countries such as India and China. Thus, increasing demand for calcium nitrate in wastewater treatment industry is further expected to boost the market demand in the coming years. However, calcium nitrate may cause some problems because of its hygroscopic nature. Thus, its high hygroscopic nature coupled with increasing healthcare awareness regarding its hazardous properties may hamper the market growth in the years to come. Nonetheless, calcium nitrate has been used for past few years as molten salt in solar power tower. Growing CSP market is projected to open up new growth avenues in the near future.

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On the basis of applications, the market can be segmented into fertilizers, concrete manufacturing, explosives, wastewater treatment, and other applications. Fertilizer was the leading segment and it held more than 50% share of total consumption in 2015. The use of nitrogenous fertilizers such as calcium nitrate in oilseeds and grains is rising owing to an increase in demand for grains and oilseeds such as soybeans, wheat, and corn. Wastewater treatment also expected to exhibit significant growth within the forecast period. Calcium nitrate is used to emit odor in wastewater by producing an anoxic biology, which impedes the metabolism of odor-producing sulfates.

The calcium nitrate market was dominated by Asia Pacific with the largest share of the total market in 2015. The dominance of Asia-Pacific is expected to be maintained in the years to come on account of rising demand for food crops in emerging economies especially in China and India, which is anticipated to boost consumption of calcium nitrate-based fertilizers. North America held 18.5% of the market share in 2015, followed by Europe in terms of volume. This growth is mainly due to increase population coupled with the increase in per capita consumption.

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Global calcium nitrate is moderately consolidated in nature. Some of the key players in the market such as ADOB Chemical(Poland), Wentong Group (China), The Chemical Company (U.S.), URALCHEM (Russia), Airedale Chemical (UK), GFS Chemicals, Inc. (U.S.), SHANXI JIAOCHENG TIANLONG CHEMICAL INDUSTRY CO., LTD (China), Agrium (Canada), Yara International ASA (Norway), Haifa Chemicals Ltd. (Israel) and Sterling Chemicals (India) among others. Yara International ASA and Agrium are among major manufacturers of calcium nitrate.

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