Calcium Nitrate Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends

"The Business Research Company recently released a comprehensive report on the Global Calcium Nitrate Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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..

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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

SABIC Limited, Sumitomo Chemicals Co. Ltd., Yara International ASA, Syngenta Crop Protection AG, Sasol Limited, Borealis AG, EuroChem Group AG, Nutrien Ltd., CF Industries Holdings Inc., Orica Limited, KRONOS Worldwide Inc., Anhui Jinhe Industrial Co. Ltd., Achema AB, Fertiberia SA, Haifa Group, Prathista Industries Limited, Ako Kasei Co. Ltd., TIB Chemicals AG, Airedale Chemical Co.Ltd., GFS Chemicals Inc., Agrico Canada L.P, Jiaocheng Sanxi Chemical Co. Ltd., ProChem Inc., Noah Technologies Corporation, Sterling Chemicals, ChemSol LLC, Barium and Chemicals Inc., Blue Line Corporation

Calcium Nitrate Market 2024 Key Insights:

• The Calcium Nitrate Market is expected to grow to $9.8 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Rising Fertilizer Demand Fuels Growth In The Calcium Nitrate Market
• Innovative Products Transforming The Calcium Nitrate Market For Enhanced Crop Yield And Soil Health
• North America was the largest region in the calcium nitrate market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the calcium nitrate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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