The Calcium Ammonium Nitrate Market Size was valued at USD 3.37 Bn in 2023 and is predicted to reach USD 4.53 Bn by 2031 at a 3.91% CAGR during the forecast period for 2024-2031.
CAN, or calcium ammonium nitrate, is a commonly used pesticide. It is highly renowned for possessing a nutritional makeup that is well-balanced. The constitution of this substance contains both ammonium and sodium nitrate. CAN is used to supply crops with all the necessary ingredients needed for normal development and growth. These elements primarily consist of nitrogen and calcium. Because of its extremely special formulation, CAN offers both rapid and continuous nutritional absorption. The industry's proportions have altered due to significant improvements. Enhancing calcium ammonium nitrate's (CAN) durability and effectiveness in farming uses is a priority.
The goal of producers is to improve the kinetics of nitrogen expulsion, which aids in all crops' efficient utilization of nutrients. Minimizing the influence on the planet is also prioritized. Furthermore, the demand for calcium ammonium nitrate is driven by government policies that improve crop production, particularly in emerging economies, as well as encouragement and subsidies from the government. These programs motivate farmers to apply calcium ammonium nitrate fertilizer, increasing the market for goods like this, which is necessary for improving crop productivity in sustainable ways.
However, the barrier to the expansion of the calcium ammonium nitrate (CAN) market is the availability of substitute choices, along with rigorous government laws limiting product consumption. In order to reduce the possibility of ammonium nitrate being misused in terrorist acts, federal departments have put strict regulations in place regulating the manufacturing, preservation, shipment, and application of the substance. Given that the use of substitutes has grown in the explosions and fertilizer application sectors, it is therefore expected that this regulatory framework will limit market expansion.
Competitive Landscape
Some of the Major Key Players in the Calcium Ammonium Nitrate Market are
- Achema AB
- Aurepio
- Azomures
- EuroChem Group
- Fatima Group
- Fertinagro India Pvt. Ltd.
- Gemlik Gubre Fertilizer Industry Inc.
- HELM AG
- HIP Azotara Pančevo
- J.R. Simplot Company
- MEA Ltd.
- Origin Fertilizers (UK) Limited
- Petrokemija, Plc
- PJSC Ostchem
- Ravensdown
- San Corporation
- SASOL
- Shandong Lvfeng Fertilizer Co.,Ltd
- Shanxi Leixin Chemical Co., Ltd
- Trammo, Inc.
- Yara International ASA
- Others
Market Segmentation:
The global calcium ammonium nitrate market is segmented based on application. Based on application, the market is segmented into fertilizer and explosive.
Based on the Application, the Explosive Segment is Accounted as a Major Contributor to the Global Calcium Ammonium Nitrate Market
Explosive in the global calcium ammonium nitrate market is expected to hold a major global market share in 2023. Because of its intrinsic qualities and adaptability, calcium ammonium nitrate (CAN) is in great need in the explosives industry. It is an essential component of explosive preparations because it acts as an antioxidant, releasing oxygen upon explosion to facilitate the combustibility of additional aggressive ingredients.
Fertilizer Factor Segment to Witness Growth at a Rapid Rate
Fertilizer factors use acrylic acid esters mainly because they are easily soluble in water, guaranteeing quick plant absorption and encouraging effective digestion of nutrients. Furthermore, this sector will develop even more as a result of the agricultural industry's rapid expansion and technological advancements, especially in countries like the US, Germany, the UK, China, and India.
In the region, the North American Global Calcium Ammonium Nitrate Market Holds a Significant Revenue Share
The North American global calcium ammonium nitrate market is expected to register the highest market share in revenue in the near future. This is explained by the rising need for ammonia nitrate energy and increasing curiosity about security explosives. The boom in agricultural operations spurred on by the region's greater usage of pesticides is another of the causes propelling this area's expansion. In addition, Asia Pacific is projected to grow rapidly in the global calcium ammonium nitrate market because of increased consumption and growing end-use industries, which include water treatment, manufacturing, agricultural chemicals, drugs, and agribusiness. The economy is growing as a result of the rising demand, which is supported by a wide range of applications in different sectors.
Recent Developments:
- In July 2024, Yara International, a multinational nutrients business and one of the biggest suppliers of ammonium worldwide, and Kongsberg Electronic, an established supplier of manufacturing programs, executed a two-year contract under which Kongsberg Shipyard Electronic will establish artificial intelligence (AI) for Yara's production facilities in Sluiskil, the Netherlands, and Heroya, the Nordic nation.
- In January 2024, EuroChem Group AG declared it would begin the endeavor of shutting down its Lifosa business in Estonia because of the effect of penalties, which it claims has hindered regular and profitable activities.
Calcium Ammonium Nitrate Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 3.37 Bn |
|
Revenue Forecast In 2031 |
USD 4.53 Bn |
|
Growth Rate CAGR |
CAGR of 3.91% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Application and By Region |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Yara International ASA, EuroChem Group, Achema AB, Origin Fertilizers (UK) Limited, Fertinagro India Pvt. Ltd., and others. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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