High demand for efficient wastewater disposal systems, especially in emerging economies, is likely to influence Global Calcium Nitrate Market. Countries such as India, Brazil, Mexico, and China are highly susceptible to wastewater pollutants owing to the escalating rate of industrialization and the dearth of efficient water treatment infrastructural framework. In fact, in 2015, the combined revenue of wastewater industry in these countries was approximately USD 7 billion. Thus, rising requirement to dispose wastewater with efficacy and strict government regulations regarding the hazards of pollutant-infested water will drive calcium nitrate market worldwide. According to Global Market Insights, Inc., “Calcium Nitrate Industry, having registered a value of USD 8 billion in 2015, is forecast to grow at a rate of 5.3% over 2016-2024, with a revenue estimation of USD 12.6 billion by 2024.”
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The regional highlights of calcium nitrate market are as provided below:
- Asia pacific led global calcium nitrate industry in 2015, with India, China, and Indonesia holding the reins. The huge rate of industrialization in India and China has led to increased product usage for wastewater treatment, thereby propelling regional growth. Driven by the ever-growing construction sector and high demand for fertilizers, APAC calcium nitrate market is set to record maximum CAGR of 5.5% over 2016-2024.
- Calcium nitrate finds huge applications in the explosives industry, which is the key driving factor for North America calcium nitrate market. Dominated by the U.S., the regional industry was worth more than USD 1.5 billion in 2015, and will foresee significant growth over 2016-2025, mainly powered by the rising government expenditure for the military & defense sector.
Calcium nitrate products find widespread applications across the wastewater treatment, concrete manufacturing, explosives, and fertilizer production sectors. The rising global demand for corn, wheat, and soybeans has necessitated the usage of nitrogenous calcium nitrate fertilizers for the aforementioned crops. These product-based fertilizers help prevent the occurrence of various plant diseases and aid plants to absorb nutrients from the soil. Increased product usage on account of these benefits will propel calcium nitrate market in fertilizer applications, which is set to observe a 4.5% CAGR over 2016-2024.
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Calcium nitrate is massively used in wastewater treatment to combat disgusting odors and prevent viruses and bacteria. Rapid industrialization and unsophisticated water-related infrastructure in developing regions coupled with the global decline of freshwater sources will lead to a significant rise in wastewater treatment facilities, which will directly fuel calcium nitrate industry in wastewater treatment applications.
Calcium nitrate market is highly fragmented owing to the myriad applications of the product. Leading companies often engage in mergers & acquisitions to enhance the production capacity. Key players include RLF, Sterling Chemicals, Shanxi Jiaocheng Tianlong Chemical Industry Co., Ltd., Yara International ASA, Uralchem Holding P.L.C., Haifa Group, and Agrium Inc.
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