Global Calcium Ammonium Nitrate Market Strategies 2024, Forecast To 2033
10 Oct, 2024
The calcium ammonium nitrate market has grown considerably in recent years, increasing from $2.97 billion in 2023 to $3.15 billion in 2024 at a CAGR of 6.1%. This growth is driven by rising demand from the agricultural sector, increased food demand, government subsidies and support, and concerns about the environmental impact. The market is expected to continue growing, reaching $4 billion by 2028 at a CAGR of 6.2%. The forecast period will see growth driven by expanding agricultural exports, climate change concerns, a focus on sustainable agricultural practices, and increasing use in medical cold packs. Major trends include technological advancements, adoption of customized fertilizer solutions, improvements in farming techniques, advancements in fertilizer formulations, and improvements in supply chain logistics.
Major Driver In The Calcium Ammonium Nitrate Market
The growing agricultural sector is expected to propel the growth of the calcium ammonium nitrate market going forward. This growth is driven by substantial investments in agricultural infrastructure, which boost productivity, enhance market access, and reduce post-harvest losses, enabling farmers to efficiently meet rising global food demand. Calcium ammonium nitrate plays a crucial role in agriculture by providing a readily available source of nitrogen and calcium, promoting plant growth, improving soil structure, and increasing crop yields. According to a report published by the Department for Environment, Food, and Rural Affairs in July 2023, the productivity of the agricultural sector in the United Kingdom saw a 3.4% increase from 2021 to 2022, with total crop output rising by 1.7%. Therefore, the growing agricultural sector is driving the calcium ammonium nitrate market, which is projected to reach a market size of $X billion in 2023, $Y billion in 2024, and $Z billion in 2028.
Request A Free Sample Of The Calcium Ammonium Nitrate Market ReportCalcium Ammonium Nitrate Market Competitive Landscape
Major companies operating in the calcium ammonium nitrate market are Koch Industries Inc., BASF SE, Nutrien Ltd., Sinochem, Yara International ASA, Sumitomo Chemical Co. Ltd., Mosaic Company, ICL Group Ltd., Yunnan Yuntianhua Co. Ltd., EuroChem Group AG, K+S AG, Hubei Xingfa Chemicals Group Co. Ltd., Coromandel International Limited, Borealis AG, Acron Group, China BlueChemical Ltd., Saudi Arabian Fertilizer Company, Gujarat State Fertilizers & Chemicals Limited, Deepak Fertilisers and Petrochemicals Corporation Limited, Uralchem Group, Qatar Fertiliser Company, Indian Farmers Fertiliser Cooperative Limited, Achema AB, Wentong Potassium Salt Group Co.Ltd.
Key Calcium Ammonium Nitrate Market Trend
Major companies in the calcium ammonium nitrate market are focusing on broadening their product lines with integrated crop nutrition systems, including calcium nitrate-compatible fertilizers, to lower costs and enhance outcomes for growers. Calcium-nitrate-compatible fertilizers optimize nutrient absorption, improve soil fertility, and supply a balanced array of essential nutrients, resulting in healthier plant growth and increased crop yields. For instance, in April 2021, FBSciences, a U.S.-based biotechnology firm, launched three new calcium nitrate-compatible fertilizers: CopCAN Soil CN Compatible, PhotoCAN Soil CN Compatible, and FlexCAN Soil CN Compatible. These products are designed to seamlessly integrate with other calcium nitrate and calcium ammonium nitrate fertilizers, such as YaraLiva CAN-17 and CN-9, thereby enhancing nutrient uptake, translocation, and overall plant health while boosting the efficiency of these fertilizer applications.
Purchase The Global Calcium Ammonium Nitrate Market Report Directly And Get A Swift DeliveryGlobal Calcium Ammonium Nitrate Market Segmentation
The calcium ammonium nitrate market covered in this report is segmented –
1) By Type: Nitrogen Content 27%, Nitrogen Content 15.5%, Other Types
2) By Grade: Standard Grade Calcium Ammonium Nitrate, Granular Or Pelletized Calcium Ammonium Nitrate
3) By Form: Liquid, Solid
4) By Application: Inorganic Fertilizer, Concrete, Explosives, Ice Packs, Clear-Water Drilling, Additive, Other Applications
5) By End-Use Industry: Agriculture, Nurseries And Greenhouses, Turf Management And Landscaping
By Geography:The regions covered in the calcium ammonium nitrate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the calcium ammonium nitrate market in 2023.
The Calcium Ammonium Nitrate Global Market Report 2024 furnishes information about the global calcium ammonium nitrate market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.