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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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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