Categories: Market Research

Calcium Nitrate Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Calcium Nitrate Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Calcium Nitrate Global Market Report 2024, The calcium nitrate market size has grown strongly in recent years. It will grow from $7.35 billion in 2023 to $7.84 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to demand for high-quality produce, agricultural industry growth, shift towards water-soluble fertilizers, industrial applications, advancements in agriculture practices..

The calcium nitrate market size is expected to see strong growth in the next few years. It will grow to $9.8 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to environmental concerns and sustainable agriculture, shift in consumer preferences, rise in horticulture and floriculture demand, focus on sustainable agriculture, growing awareness of soil health.. Major trends in the forecast period include precision agriculture adoption, organic agriculture practices, hydroponics and soilless cultivation, focus on crop quality enhancement, adoption of controlled-release fertilizers..

The rising demand for fertilizers is expected to propel the growth of the calcium nitrate market going forward. Fertilizers are substances or mixtures that are applied to soil, plants, or crops to provide essential nutrients necessary for plant growth and development. Calcium nitrate is a versatile fertilizer that can supply nitrogen and calcium to growing crops and improve fruit and vegetable quality. For instance, in July 2022, according to a report published by the Central Statistics Office, an Ireland-based government agency, the sales of all fertilizers increased by 6%, reaching a total of 1.7 million tones in 2021 compared to 2020. Furthermore, the nitrogen (N) content in fertilizers sold in 2021 increased by 5%, amounting to 399,164 tones, compared to 2020. Therefore, the rising demand for fertilizers will drive the growth of the calcium nitrate market.

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The calcium nitrate market covered in this report is segmented –

1) By Type: Liquid, Melt, Crystals

2) By Process: Limestone, Phosphate Rock, Ammonium Nitrate

3) By Application: Fertilizer, Waste Water Treatment, Concrete, Explosives, Refrigerant, Other Applications

4) By End-User: Aerospace Components, Automotive Parts, Logging Equipment, Boring And Cutting Equipment, Electrical And Electronics Appliances, Other End Users

Major companies operating in the calcium nitrate market are developing innovative products such as multi-nutrient compatible to serve farmers better and generate revenue. Compatible are advanced multi-nutrient formulations designed to help nutrients bypass soil tie-ups and promote rapid uptake and translocation within the plant while enabling copper, calcium, and other nutrients to be more efficiently absorbed. For instance, in April 2021, FBSciences Inc., a US-based agriculture service company, launched three new products to complete its 6-product calcium nitrate (CN) compatible lineup. CopCAN Soil CN Compatible and PhotoCAN Soil CN Compatible are liquid nutrients formulated to be applied to soil. In contrast, FlexCAN Soil CN Compatible is a soil-applied liquid nutrient formulated to be compatible with calcium nitrate and calcium ammonium nitrate. The products are designed to help nutrients bypass soil tie-ups and promote rapid uptake and translocation within the plant, enabling copper, calcium, and other nutrients to be more efficiently absorbed. Adding these products to the lineup will give farmers more options to improve crop yields and soil health.

The calcium nitrate market report table of contents includes: