Calcium nitrate is a colorless anhydrous salt that absorbs moisture from the air, most usually found in the form of a tetrahydrate. It is soluble in alcohol and water and acts as an oxidizing agent. Treatment of weak nitric acid with limestone is one of the commonly used commercial methods for obtaining calcium nitrate, with the other being the absorption of nitrogen by the milk of lime. Rapid industrialization, rise of the urban middle class, and growing population are some of the factors driving the calcium nitrate market. Calcium nitrate is a colorless salt denoted by the formula Ca (NO3)2. This chemical generally occurs in soil and natural water as nitrocalcite, made by the reaction of nitric acid with calcium carbonate. The market is anticipated to observe considerable growth on account of applications in agriculture, wastewater treatment, and construction.
The global calcium nitrate market is anticipated to grow at a CAGR of around 5.1% and reach a value of USD 8.9 billion by 2026.
Commercially, agriculture, greenhouse, fertigation, and liquid grades of calcium nitrate are available in the market, and among all, the agriculture grade is valued the highest. Technological advancements are driving automation in agriculture to enhance crop yield. Recent times have seen the growth of the farm-to-table trend among independent households in the urban population. To meet the rising food demand, farmers are relying on fertilizers as a means to enhance yield in an environment-friendly way.
Calcium nitrate is used in wastewater treatment chemicals, concrete manufacturing, explosives, and fertilizers. Rising disposable income, increasing number of independent households, influencer marketing, and attractive packaging are collectively contributing to an upsurge in demand for packaged food, fruits, and vegetables, which drives the need to enhance agriculture output. Additionally, growing environmental consciousness among the masses is prompting people to opt for agro products cultivated without the use of environmentally-damaging fertilizers. Calcium nitrate protects subsoil waters against pollution with nitrogen compounds, and hence, its adoption is anticipated to grow at an exceptional rate during the forecast period.
The global market has been studied with an emphasis on five key regions, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Economically stable countries such as the U.S. and Canada are expected to drive market growth in North America. The construction sector – a key application area for calcium nitrate – is a key contributor to the region’s economy. As per the Construction Sector Council, Canada will be needing around 320,000 construction workers till 2020 to support new and existing construction projects. The Construction Sector Council also states that the U.S. construction sector will prominent as well, with new projects worth USD 13000 billion being realized ever year. Technological advancements and automation in agriculture augmented U.S. food and agricultural exports to a value of over USD 54.6 billion in the year 2016, as per the Corn Refiners Association.
Several European countries are economically strong and technologically advanced; moreover, EU member countries enjoy a mutually-beneficial trade scenario. In the region, calcium nitrate is used in the treatment of sewage waters, preventing the odor from spreading. In 2016, 10% of the total wastewater was generated by waste and water services, which indicates the scope for this application area in the region.
Asia-Pacific is home to a large number of emerging economies, including India, China, and Malaysia, where abundant availability of natural resources, inexpensive labor, and liberal trade policies drive market growth. Additionally, India and Thailand, among other countries, have vast agriculture sectors that employ a sizable percentage of the populace. The construction sector in several countries across the region has also been gaining pace with rapid infrastructure development, including both public and private projects. For instance, Indonesia plans to redevelop 24 ports at the cost of around USD 7 billion within five years; this initiative will accelerate the demand for concrete and, in turn, calcium nitrate, as the compound finds application in concrete production.
In the LAMEA (Latin America, the Middle East, and Africa) region, Brazil, Argentina, Saudi Arabia, and Dubai have been rapidly emerging as attractive investment hubs with impetus from development in real estate and agriculture sectors. Additionally, the rising population is creating a need for efficient wastewater treatment, which will provide a fillip to the demand for calcium nitrate as the compound is used as a wastewater treatment chemical.
Some of the key market players in the tungsten market are
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