Report : Asia Pacific Calcium Nitrate Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Fertilizers, Wastewater Treatment Chemicals, Concrete Manufacturing, Explosives, and Others)
Fertilizers Segment to Dominate Asia Pacific Calcium Nitrate Market during 2021-2028
According to a new market research study on “Asia Pacific Calcium Nitrate Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Application and Country,” is expected to reach US$ 641.24 million by 2028 from US$ 485.03 million in 2021. The market is estimated to grow at a CAGR of 4.1% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific calcium nitrate market along with the drivers and restraints pertaining to the market growth. Wide range of usage for calcium nitrate and incrementing demand for calcium nitrate from fertilizer manufacturers are the major factors driving the growth of the Asia Pacific calcium nitrate market. However, easy availability of substitutes may hinder the growth of Asia Pacific calcium nitrate market.
In case of COVID-19, in Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of calcium nitrate manufacturing activities. Downfall of other chemical and materials manufacturing sectors has negatively impacted the demand for calcium nitrate during the early months of 2020. Moreover, 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 thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
The market for Asia Pacific calcium nitrate is segmented into application and country. Based on application, the market is segmented into fertilizers, wastewater treatment chemicals, concrete manufacturing, explosives, and others. In 2020, the fertilizers segment held the largest share in Asia Pacific calcium nitrate market. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific calcium nitrate market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for calcium nitrate.
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 are some of the leading companies in the Asia Pacific calcium nitrate market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The report segments the Asia Pacific Calcium Nitrate Market as follows:Asia Pacific Calcium Nitrate Market – By Application
- Wastewater Treatment Chemicals
- Concrete Manufacturing
- South Korea
- Rest of Asia Pacific
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