Global Calcium Ammonium Nitrate Market Overview
Calcium Ammonium Nitrate, also known as CAN, is a nitro-limestone which is popularly used across the world as an inorganic fertilizer. Calcium ammonium nitrate can be used in cold packs because of their endothermic nature of desolating in water. It is also hygroscopic in nature. Some forms of calcium carbonates such as dolomite or limestone are mixed with ammonium nitrate to produce calcium ammonium nitrate. Calcium ammonium nitrate is a chemical that exists in a neutral state physiologically, which is mainly produced in the form of granules that is apposite for potassium and phosphate fertilizers. Calcium ammonium nitrate consists of lower caking characteristics as well as lower water absorbing feature which makes it better choice than ammonium nitrate. The ammonium nitrate compounds mixed with limestone increases the yield capacity of crops while also improving the fertility of the soil. Calcium ammonium nitrate can be used in fertigation, drilling and broadcasting for agricultural and horticultural applications.
Calcium ammonium nitrate has been used traditionally for the purpose of odor removal from wastewater during water treatment processes. CAN is also used in making of small scale explosives either by reprocessing the chemical or by simply grinding the compound and packing the material in a plastic box attached with a blasting cap. These wide range uses of calcium ammonium nitrate are expected to propel its market steadily during the forecast period.
Market Size & Forecast
Calcium Ammonium Nitrate Market is anticipated to record a CAGR of 3.4% over the forecast period. The calcium ammonium nitrate market is expected to reach a value of USD 4.21 million at the end of the forecast period. Many multi-national companies are concentrating towards new product application advances in calcium ammonium nitrate. Moreover, the many advantageous properties of calcium ammonium nitrate are exploited in the field of fertilizers and explosives now and then. Uses for calcium ammonium nitrate derivatives have been discovered at regular intervals in the past which is expected to drive the calcium ammonium nitrate market rapidly in the future. Currently the global calcium ammonium nitrate market is observing vibrant growth owing to increasing demand of active and mature fertilizers in the market. Advance in agriculture industry in the past few years and growing technological explorations is projected to drive calcium ammonium nitrate market besides the wide range of functions of calcium ammonium nitrate in an immense range of products such as fertilizers, explosives, instant cold packs, and more during the forecast period. On the basis of regional platform, global Calcium Ammonium Nitrate market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
As a precursor to soil fertility enhancer in agriculture industry, Asia Pacific is panned to observe substantial growth in calcium ammonium nitrate market due to rising calcium ammonium nitrate usage. On account of multiplying calcium ammonium nitrate uses in growing end-use industries such as agricultural, pharmaceutical, agrochemicals, industrial and water treatment, Asia Pacific is budding as a regional market for calcium ammonium nitrate consumption. Asia Pacific is attributed to be followed by North America in terms of consumption due to expanding calcium ammonium nitrate requirements in agro chemical and water treatment industries.
Europe is expected to drive demand and positively impact the growth of calcium ammonium nitrate market over the forecast period owing to increasing calcium ammonium nitrate application in chemical manufacturing industries. However, weak economic conditions in countries such as Russia, Spain and others is expected to showcase a more modest growth of the calcium ammonium nitrate market across the region over the forecast period.
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Our-in depth analysis of the global Calcium Ammonium Nitrate market includes the following segments:
By End-User Industries
- Chemical Manufacturing
- Water Treatment
Global Calcium Ammonium Nitrate Market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers & Challenges
The rising demand for Calcium Ammonium Nitrate and its by-products for various processes in pharmaceutical, agrochemical, explosive industries are expected to drive the market rapidly over the forecast period. The numerous uses of calcium ammonium nitrate in soil fertility enhancement and increasing production capacity by use of CAN in the form of fertilizer as well as the use of CAN as a low scale explosive in under-developed countries as Afghanistan, Pakistan and more, are anticipated to propel the calcium ammonium nitrate market over the forecast period. Rapid economic development with thriving agricultural sector is expected to boost the calcium ammonium nitrate market in the developing regions.
However, development of contact dermatitis among farmers using CAN fertilizers as well as growing demand for organic fertilizers on account of increasing environmental awareness is estimated to serve as the key restraints in the growth of the calcium ammonium nitrate market. Moreover, ban of CAN fertilizers due to illegal use of them as homemade explosives is anticipated to hinder the market growth further over the forecast period.
Top Featured Companies Dominating The Market
- Yara Inc.
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