Rapid agricultural and infrastructure development around the world has propagated the calcium nitrate market expansion, with increased use of the chemical in fertilizers, water treatment and concrete manufacturing. The water treatment application specifically, has garnered momentum owing to the need for clean water to support the growing population and the fast depleting fresh water resources. The calcium nitrate industry, however, is being considerably benefited by the use in preparation of concrete in Asia, Europe and North America. These regions are witnessing swift transformation in terms of economy, and a boom in the construction sector derived from the rising disposable income and the need for new, better infrastructure.
Over the last few years, European countries have been recovering from a financial downturn which had upset the global economic structure. Growing industrial and technology sectors have paved the way for building modern, more efficient structures in addition to developing renewable energy grid networks. Subsequently, the cement and concrete segment in the region has evolved and adapted to the need for flexible and stronger buildings, roads and bridges. The calcium nitrate market in Europe has proliferated from the extensive requirement of suitable concrete admixtures that strengthen the material and improve its properties.
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Expounding the lucrative opportunities for the calcium nitrate market in Europe
Statistics indicate that in 2017, nearly 4.1 billion metric tons of cement were produced globally – a number that is projected to steadily rise to 4.4 billion metric tons by 2020. Cement is the key to making concrete, which is used in building skyscrapers, monuments, roads, bridges and even stadiums, among others. Whether the concrete is mixed on site or in factories, the aggregates mixed with cement need to be appropriate for the physical and climatic stress a structure will face. Calcium nitrate admixtures, such as NitCal concrete accelerator offered by Yara, can be deployed for any weather conditions. The substance is also known to be ideal for producing concrete for extreme cold weathers, further driving the Europe calcium nitrate industry since most of the region experience harsh winters.
Exploring the potential of the concrete segment further, U.K. had produced nearly 22.9 billion cubic meters of ready-mix concrete in 2017 to meet the demand from various end-user industries, including residential, commercial and power. Even in France, where the construction sector is thriving at a slower rate, concrete manufacturing accounts for a turnover of more than €12 billion annually. Governments are also seeking ways to build reliable and more durable airports, roads and bridges, fueling the development of effective concrete aggregates. Essentially, as European countries look to expand their transport infrastructure to accommodate the ever increasing congestion, the calcium nitrate market will generate remarkable proceeds from concrete manufacturing.
Enumerating construction sector trends in Europe that underscore the potential of calcium nitrate industry
In 2014, Russia commenced a mammoth construction project to build Europe’s longest bridge to connect Taman Peninsula of the Krasnodar Region with Crimea’s Kerch Peninsula. Spanning 19 miles, the US$3.8 billion bridge represents the ambitious nature of Russia’s infrastructure plans and demonstrates the growth prospects for calcium nitrate market in the region. Citing another project being undertaking in the nearby areas, Croatia is building a bridge to link Dubrovnik to the rest of the nation, with the structure being funded by the European Union. As evident, regional authorities are also backing prominent infrastructure plans and setting up a promising future for the concrete industry with regards to consumption.
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To elaborate further, the EU had recently announced a US$7 million funding to support the enhancement of road infrastructure in the country of Georgia, which is a small but lucrative market for construction materials. This trend in Europe to increasingly support smaller economies will propel the calcium nitrate industry expansion into the concrete manufacturing segment, with other such countries like Ireland and Latvia on the verge of infrastructure advancement. Latvia, for instance, reportedly has about 40% of its roads and 25% of its major highways in bad condition, and the gradual reparation of the road network will offer tremendous opportunities to the construction sector over the coming years.
In essence, new construction projects in Europe and the need for upgrading the existing, damaged infrastructure will drive the concrete manufacturing in the region, escalating the requirement of crucial aggregates like calcium nitrate. Furthermore, similar trends across other continents will significantly boost the consumption of concrete in developed and emerging economies, accelerating the global calcium nitrate market growth. Comprising of key industry participants like Agrium Inc., Sterling Chemicals and Yara International, the calcium nitrate market is anticipated to surpass USD 12.6 billion valuation by 2025.
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