Calcium ammonium nitrate Market to Grow with a CAGR of 3.27% through 2028
Surge in research and development activities is
expected to drive the Global Calcium Ammonium Nitrate Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Calcium
ammonium nitrate Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Calcium Ammonium Nitrate
Market stood at USD 3.68 Billion in 2022 and is anticipated to grow with a CAGR
of 3.27% in the forecast period, 2024-2028. The initiatives taken by government
based on calcium ammonium nitrate has led to favorable market conditions for
the Global Calcium Ammonium Nitrate Market. Several factors contribute to the
growth of various calcium ammonium nitrate products.
The Petroleum
and Explosive Safety Organization (PESO), under the Ministry of Commerce and
Industry, is entrusted with the responsibility of granting licenses for the
import and safe handling of ammonium nitrate in India. PESO plays a vital role
in ensuring the safety and security of ammonium nitrate, a highly regulated
substance due to its potential for misuse. As part of their ongoing initiative
to improve the risk associated with ammonium nitrate, PESO not only issues
licenses but also closely regulates its importation into the country. By
imposing stringent safety measures and guidelines, PESO aims to prevent any
untoward incidents and maintain a high level of safety standards throughout the
entire supply chain. In addition to its industrial applications, ammonium
nitrate is a key component in the production of urea, a nitrogen-based
fertilizer widely used in agriculture.
Recognizing the
significance of urea in boosting agricultural productivity, the government
extends subsidies to urea manufacturing units. These subsidies are aimed at
supporting the transportation costs and ensuring the availability of urea to
farmers across the country. By making urea more accessible and affordable,
these subsidies contribute to the overall growth and sustainability of the
agricultural sector. Through its comprehensive approach encompassing licensing,
regulation, and subsidies, the government, along with PESO, strives to strike a
balance between facilitating the safe use of ammonium nitrate and promoting
agricultural development for the benefit of the nation as a whole.
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Calcium Ammonium Nitrate Market”
With growing concerns about environmental
sustainability, extensive research and development (R&D) activities are
underway to develop innovative and environmentally friendly alternatives and
practices. Dedicated researchers are exploring various approaches to enhance
the eco-friendliness of calcium ammonium nitrate (CAN) production and its
application in agriculture, aligning with the global shift towards sustainable
farming practices. This not only contributes to the overall growth of the calcium
ammonium nitrate market but also plays a crucial role in promoting a greener
and more sustainable future.
Moreover, R&D efforts in the field of CAN extend
beyond traditional applications. Researchers are actively exploring potential
uses of calcium ammonium nitrate in diverse industries, including construction,
mining, and wastewater treatment. By identifying new applications and
demonstrating the multifaceted benefits of CAN, these research initiatives are
driving the demand for the product across various sectors. This expansion of
applications not only showcases the versatility of CAN but also opens up new
avenues for its utilization, further propelling its market growth and
reinforcing its position as a valuable resource in numerous industries. Through
continuous innovation and exploration, R&D activities are shaping the
future of calcium ammonium nitrate, fostering sustainable practices, and paving
the way for a more environmentally conscious and efficient approach across
different sectors.
Global Calcium Ammonium Nitrate Market is
segmented into application, regional distribution, and company
Based on its type, the fertilizers segment held the
largest share in the market. The fertilizers grade of calcium ammonium nitrate,
with its rich hygroscopic nature, is widely utilized as an inorganic fertilizer
during the fertigation process to mitigate soil acidification. Its high
solubility in soil enables easy absorption by plants, providing them with vital
nutrients such as calcium and nitrogen. These essential elements facilitate the
growth of lush, green leaves. The increasing scale of agricultural production,
driven by the rising demand for primary food items like fruits, vegetables,
wheat, and rice, has led to a surge in fertilizer demand.
Consequently, there has been a simultaneous increase
in the demand for the fertilizer grade of calcium ammonium nitrate. As a
result, the growing demand for fertilizers has significantly contributed to the
segment growth of the fertilizer grade of calcium ammonium nitrate during the
forecast period. This trend highlights the pivotal role that calcium ammonium
nitrate plays in supporting sustainable agricultural practices and meeting the
global demand for high-quality food production.
Based on region, Asia Pacific segment is expected to
grow during the forecast period. The Asia-Pacific region is home to a thriving
horticulture and floriculture industry, encompassing a diverse range of fruits,
vegetables, flowers, and ornamental plants. These sectors rely heavily on
customized nutrient solutions to ensure optimal growth and exceptional quality.
CAN, with its multifaceted role in promoting balanced nutrient uptake, disease
resistance, and extended shelf life, has emerged as a prized asset in these
industries, cementing its position as a dominant player in the market.
Moreover, the rapid economic growth experienced in countries such as China,
India, and Southeast Asian nations has spurred significant investments in
agriculture.
Both governmental bodies and private sector entities
are actively pursuing the modernization of agricultural practices to maximize
productivity. In this pursuit, the adoption of advanced fertilizers like CAN
has gained traction, as it has been proven to contribute to higher yields and
improved overall crop quality. With the ongoing advancements in the
agricultural landscape, the Asia-Pacific region continues to demonstrate its
commitment to innovation and sustainable growth, ensuring a prosperous future
for the horticulture and floriculture sectors.
Major companies operating in Global Calcium Ammonium
Nitrate Market are:
- Barium & Chemicals, Inc.
- Yara International ASA
- EuroChem Group
- Achema AB
- Origin Fertilizers Limited
- Fertinagro India Pvt. Ltd
- Agrico Canada
- San Corporation
- Helm AG
- Pakarab Fertilizers Limited
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“Growing application of calcium ammonium nitrate in
various end user industries are key drivers of the calcium ammonium nitrate market.
Growth in competitive landscape and presence of well-established countries in
the market who are dedicated to enhance their productivity of calcium ammonium
nitrate with every passing year are anticipated to register an impressive
growth to Global Calcium Ammonium Nitrate Market in the forecast period.,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Calcium ammonium nitrate Market By Application
(Fertilizers, Explosives, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Calcium Ammonium Nitrate Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Calcium Ammonium Nitrate Market.
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