The calcium ammonium nitrate market size has grown strongly in recent years. It will grow from $2.97 billion in 2023 to $3.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to the rise in demand from the agricultural sector, an increase in food demand, a surge in government subsidies and support, and an increase in concerns about environmental impact. The calcium ammonium nitrate market size is expected to see strong growth in the next few years. It will grow to $4 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to expanding agricultural exports, increasing climate change, growing emphasis on sustainable agricultural practices, and increasing use of medical cold packs. Major trends in the forecast period include technological integration, adoption of customized fertilizer solutions, advancements in farming techniques, advancements in fertilizer formulations, and advancements in supply chain logistics.
Global Calcium Ammonium Nitrate Market Key Driver
The growing agricultural sector is expected to propel the growth of the calcium ammonium nitrate market going forward. The agricultural sector growth is driven by substantial investments in agricultural infrastructure, boosting productivity and market access while reducing post-harvest losses and helping farmers efficiently meet rising global food demand. Calcium ammonium nitrate supports the agriculture industry by providing a readily available source of nitrogen and calcium, which promotes plant growth, improves soil structure, and increases crop yields. For instance, in July 2023, according to a report published by the Department for Environment, Food, and Rural Affairs, a UK-based government department, the productivity of the agricultural sector in the United Kingdom saw a 3.4% increase from 2021 to 2022. Furthermore, in 2022, total crop output rose by 1.7%, with oilseed rape and barley increasing by 39% and 12%, respectively. Therefore, the growing agricultural sector is driving the calcium ammonium nitrate market.
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Global Calcium Ammonium Nitrate Market Segments
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.
Major Calcium Ammonium Nitrate Industry Players
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.
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Calcium Ammonium Nitrate Market Overview
Calcium ammonium nitrate (CAN) is an inorganic fertilizer that supplies both calcium and nitrogen, essential nutrients for plant growth. It contains about 8% calcium and 21%–27% nitrogen. Its hygroscopic and endothermic properties make it useful in agriculture and instant cold packs, requiring careful handling.
Calcium Ammonium Nitrate Global Market Report 2023 provides data on the global calcium ammonium nitrate market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The calcium ammonium nitrate market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
