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Calcium Nitrate Market Industry Overview, Trends and Growth Opportunities Forecasted till 2020
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According to market experts, this market had gained revenue worth US$7.37 bn in 2013, and is further expected to grow up to US$10.18 bn by 2020. This growth is projected to occur at a decent CAGR of 4.8% during the forecast period from 2014 to 2020. Regarding the volume, the global calcium nitrate market was at 14602.1 kilo tons in 2013.
Rising Demand of Calcium Nitrate in Various Industries Augments Growth
A gradually rising demand for grain crops to satisfy food demands all over the globe is increasing the demand for quality fertilizers that can be used in agricultural activities. As calcium nitrate fertilizers are known to provide adequate soil nutrition to enable proper growth of crops, the associated market is being driven substantially since numerous decades. A high consumption of calcium nitrate fertilizers owing to their easier availability is also leading towards a positive growth curve attained by the calcium nitrate market.
Apart from fertilizers, calcium nitrate is also used extensively for waste-water treatment activities, manufacturing of concrete, production of explosives, and in many sectors. Corresponding to these applications, a rising need for clean and fresh water, rampantly developing construction industry, and rapidly advancing military and defense sectors, has also been responsible for driving the global calcium nitrate market.
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Environmental Concerns Regarding Pollution Dampen Growth
However, the market is largely being hindered owing to rising environmental concerns that involve the harmful effects caused to the environment by calcium nitrate. These effects either maybe due to the direct contact of calcium nitrate with natural elements, or might occur in the context of manufacturing processes employed during the compound’s production. Such pollution might largely affect land as well as water bodies, depending on where the calcium nitrate product was used. Shortage of raw materials in remote as well as underdeveloped regions might make it difficult to manufacture the compound, thereby restricting the global calcium nitrate market too. Nevertheless, efforts are being taken by several companies to produce eco-friendly substances containing calcium nitrate. This is expected to substantially dilute the restraints affecting the global calcium nitrate market.
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