Calcium Nitrate Market Size

Calcium Nitrate Market Size

Calcium Nitrate Market size was more than USD 8.5 billion in 2017 and will witness 5.3% CAGR during the forecast timespan.

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Rising grain crops demand across the globe coupled with continuously reducing arable land shall boost calcium nitrate market for fertilizers over the forecast duration. Food demand is likely to rise with a prominent CAGR during the forecast timespan, as global population shall double by 2050. Additionally, declining numbers of fresh water sources coupled with inadequate water infrastructure in nations such as Indonesia, India, China, Sri Lanka and Pakistan shall propel the need for wastewater treatment facilities, that will subsequently boost calcium nitrate business over the forecast period. However, the product’s hygroscopic nature which makes it absorb moisture from the atmosphere is likely to hamper calcium nitrate market size growth over the next few years.

Fertilizers demand shall continue to rise as Asia Pacific nations are striving to raise their gradation capacity whereas developed nations are likely to maintain their fertilizer consumption with moderate growth potential. In addition, fertilizers demand is closely linked to food and fuel crops demand. The use of fertilizers containing calcium nitrate in agriculture is growing due to the rising demand for major oilseeds such as corn, soybeans and wheat and grains. According to United Nations Environment Program (UNEP), every day approximately 200,000 people are added to the world food demand. The Food and Agriculture Organization (FAO) predicts that farmland needs to increase by at least 15% by 2020 to maintain the per capita global food consumption at par with present level.