Feb 7, 2022   SOURCE: BusinessWire

Global Calcium Nitrate Markets, 2021-2028 - Rising Demand for Wastewater Treatment & Calcium Nitrate Demand in Greenhouse Farming - ResearchAndMarkets.com

The "Calcium Nitrate Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Application" report has been added to ResearchAndMarkets.com's offering.

Calcium nitrate market was valued at US$ 882.03 million in 2021 and is projected to reach US$ 1,130.94 million by 2028; it is expected to grow at a CAGR of 3.6% from 2021 to 2028.

Calcium nitrate is synthesized chemically by treating limestone with nitric acid, followed by neutralizing the outcome with ammonia. Calcium nitrate is produced in a granulated form and is mostly used as a nitrogen fertilizer in agriculture.

The calcium nitrate-based fertilizers help enhance the uptake of magnesium, potassium, and calcium from the soil; improve the yield and quality of crop; extend the storage life of fruits; and build up resistance to diseases and pests.

Calcium nitrate is also used for in manufacturing concrete, explosives, and wastewater treatment chemicals. In addition, it is actively used to suppress the formation of odor in sewer networks and municipal wastewater treatment.

The global calcium nitrate market is broadly segmented into North America, Europe, APAC (APAC), Middle East & Africa (MEA), and South and Central America (SAM). The was dominated by Asia Pacific in 2020, with a share of 55.0%; the region would continue its dominance and account for 56.7% of market share by 2028.

North America is the second-largest contributor to the global calcium nitrate market. Asia Pacific comprises several economies such as China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. India, Japan, and China are among the major markets for calcium nitrate in the region. India, China, Indonesia, the Philippines, Vietnam, and Thailand, among others, have a significantly growing agriculture sector.

Thus, the demand for fertilizers in crop production would increase in the coming years in these countries. The compound is applied in the form of fertilizers to aid in plant cell growth as well as to neutralize acids to detoxify the crop. The nitrogen component also contributes to protein production, more specifically, to leaf development.

Market players highly focus on the development of high-quality and innovative product offerings.

Key Market Dynamics

Market Drivers

  • Wide Range of Applications for Calcium Nitrate
  • Growing Demand for Calcium Nitrate from Fertilizer Manufacturers

Market Restraints

  • Availability of Substitutes

Market Opportunities

  • Rising Demand for Wastewater Treatment

Future Trends

  • Calcium Nitrate Demand in Greenhouse Farming

Companies Mentioned

  • Nutrien
  • Yara International Asa
  • Sterling Chemicals Company
  • Gfs Chemicals, Inc.
  • Haifa Group
  • Uralchem Holding Plc
  • Rural Liquid Fertilisers
  • Shanxi Jiaocheng Tianlong Chemical Industry Co., Ltd.
  • Prochem, Inc.
  • Iperen International

For more information about this report visit https://www.researchandmarkets.com/r/bnq8a2