Asia Pacific Calcium Nitrate Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application

Asia Pacific Calcium Nitrate Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application

  • July 2021 •
  • 106 pages •
  • Report ID: 6134569 •
  • Format: PDF
The Asia Pacific calcium nitrate market is expected to grow from US$ 485.03 million in 2021 to US$ 641.24 million by 2028; it is estimated to grow at a CAGR of 4.1% from 2021 to 2028. Asia Pacific comprises several economies such as China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. India, Japan, and China are among the major markets for calcium nitrate in Asia Pacific. The calcium nitrate industry in the countries of Asia Pacific has experienced a massive shift over the years. Countries such as India, China, Indonesia, the Philippines, Vietnam, and Thailand have a significantly growing agriculture sector. The demand for fertilizers in crop production would also increase in the coming years, which will subsequently drive driving the calcium nitrate market in the region. Calcium nitrate is used as a nutrient and aids in plant cell growth; it also neutralizes acids to detoxify the plant. The nitrogen component also contributes to protein production and, more specifically, in leafy development.

Asia Pacific, especially India, witnessed an unprecedented rise in number of COVID-19 cases, which led to the discontinuation of calcium nitrate manufacturing activities.The downfall of other chemical and material manufacturing sectors negatively impacted the demand for calcium nitrate during the early months of 2020.

Moreover, the decline in the overall fertilizers manufacturing activities has led to discontinuation of calcium nitrate manufacturing projects, thereby reducing the demand for calcium nitrate. Similar trend was witnessed in other Asia Pacific countries, i.e., Japan, China, and Australia. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, as observed in the beginning of 2021.

Based on application, the market is segmented into fertilizers, wastewater treatment chemicals, concrete manufacturing, explosives, and others.The fertilizers segment is expected to grow at the fastest CAGR during the forecast period.

Calcium nitrate is a complex, water-soluble fertilizer constituting 15.5% nitrogen (N) in a readily available form and 18.5% calcium (Ca). Calcium is one of the secondary nutrients required for crop production. It helps improve fruit color, luster, and consistency; soil structure and water penetration; and crop’s pest and disease resistance. Calcium nitrate fertilizers are the only water-soluble source of calcium available for plants. It can be used as a fertilizer and as a disease control agent. The compound helps stabilize cell growth and boosts protein and leaf production by promoting cell formation. It also helps in the detoxification of plants by neutralizing acids. A few crops, especially fruiting ones such as tomatoes, may suffer from calcium deficiency due to heat and moisture stress; calcium nitrate is applied to such crops for nourishment, disease prevention and treatment. Furthermore, many manufacturers are offering calcium nitrate fertilizers that improve crop quality. For instance, Yara International ASA offers YaraLiva fertilizers—a calcium nitrate-based fertilizer range—that combines fast acting nitrate nitrogen with strength-building calcium and boron, engineered for high value quality field crops to boost size, strength, appearance, and, most importantly, marketable yield.
The overall Asia Pacific calcium nitrate market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the Asia Pacific calcium nitrate market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Asia Pacific calcium nitrate market.A few of the key companies operating in the market are Nutrien, Yara international Nutrien, Yara international ASA, Haifa Group, Sterling Chemicals Company, Uralchem holding PLC, Rural Liquid Fertilisers, Shanxi Jiaocheng Tianlong Chemical Industry Co.

Ltd., and Van Iperen International.
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