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Calcium Nitrate Market is Expected to Reach US$ 10.18 Billion by 2020
Calcium Nitrate Market
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Steadily growing global demand for grain crops and increasing demand for wastewater treatment in emerging economies is expected to boost demand for calcium nitrate. Demand for calcium nitrate is largely driven by high consumption of calcium nitrate fertilizers in emerging economies in Asia Pacific and Latin America to meet their respective food requirements. However, calcium nitrate is hygroscopic in nature and is classified as hazard class 5.1 by regulatory regimes. This could hamper the growth of the market.
Based on application, the global calcium nitrate market has been segmented into fertilizers, wastewater treatment chemicals, concrete manufacturing, explosives, and others. In terms of volume, fertilizers is expected to be the largest and fastest growing segment of the calcium nitrate market. The fertilizers application segment accounted for a share of over 50% of the global calcium nitrate market in 2013. Explosives was the second-largest segment of the global calcium nitrate market in 2013 and accounted for a significant market share in the same year. The others segment includes molten salts and regenerable cold packs.
Asia Pacific is anticipated to be the fastest growing and largest market for calcium nitrate in terms of revenue during the forecast period. The calcium nitrate market in Asia Pacific accounted for approximately 55% of the share in 2013 and is expected to expand at a rapid rate due to increasing demand for food crops in emerging economies such as China and India, which is expected to boost consumption of calcium nitrate-based fertilizers. RoW is expected to be the second-fastest growing market due to the booming agriculture and mining sectors, boosting demand for calcium nitrate fertilizers and emulsion explosives. North America and Europe are likely to witness moderate growth during the forecast period in terms of volume.
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The calcium nitrate market is moderately concentrated; it is dominated by small and medium regional companies. Key players in the market include Agrium, Inc., Airedale Chemical, GFS Chemicals, Inc., Haifa Chemicals Ltd., Prathista Industries Limited, Rural Liquid Fertilisers (RLF), Shanxi Jiaocheng, Tianlong Chemical Industry Co., Ltd., Sterling Chemicals, Uralchem Holding PLC, Vardhaman Fertilizers and Seeds Pvt. Ltd., and Yara International ASA. Companies are focusing on expanding their manufacturing capacities and establishing new business units in the emerging markets of Asia Pacific to strengthen their customer base and seek new opportunities in the region.
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