Overview:
The global market for calcium chloride, as per the analysis made by Market Research Future (MRFR), is showing substantial scope to surpass a valuation of $1.53 billion with a CAGR rate of 4.30% during the calcium chloride market forecast period 2022-2030, that would be considered as the forecast period. The Calcium Chloride Market size would increase even further in the coming years. It is a compound of calcium and chlorine.
As the report suggests, this growth in the calcium chloride market would get ample traction from the various uses, especially from dust control and de-icing activities. Especially, this would be the case in countries with cold weather. In the oil & gas industry, calcium chloride’s application as drilling fluid can also spur the global demand. The growing calcium chloride application in the food industry as a preservative is providing the market an opportunity to diversify and increase its market percolation. In various other projects like water treatment, construction, agricultural, and animal sterilization, the demand for calcium chloride would lure in more market players.
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But the excessive consumption of calcium chloride compound can cause health-hazards like irregular heartbeats, muscle spasms, kidney stones, and joint pains. This can slacken the growth pace of the market. This can dampen the calcium chloride market demand.
Regional Analysis:
The North American market had the highest market share in 2017. It was governing the market with 40% of the global market share. The current projection for the market suggests a recording of a significantly strong CAGR to score well during the forecast period. Its intake as a de-icing agent can make sure that the market grows significantly. In addition, the impact created due to the demand from the pharmaceutical industry and the production of drilling fluids can bolster its market growth.
The European market can be termed as the second-largest market in terms of revenue share. Its growth in Germany and other countries like Spain, Italy, and France can secure better prospects for the market. The Asia-Pacific market has the potential to score a high CAGR during the forecast period. The growth would depend mostly on the industrial revamping process that is witnessing a surge in the investment from emerging economies. China would lead the market as the high demand from agriculture and food processing applications can trigger a better growth rate. In the Middle East & Africa, the market would fetch revenues from its profits in the oil & gas industry.
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Segmentation analysis:
The global calcium chloride market, as had been reported by MRFR, can be segmented by grade, form, end-use industry, and application. These segments play crucial roles in determining how the market is going to profit in the coming years.
By form, the global market for calcium chloride can be segmented into hydrated solid, liquid, and others. These segments have their niche clients who can make sure that the market gets strong tailwinds.
By grade, the global report including details of the calcium chloride market has been segmented into agriculture grade, industrial grade, food-grade, and pharmaceutical grade. The second-largest segment has a remarkable scope in fetching higher revenues in the coming years.
By raw material, the global report on the calcium chloride market can be segmented on the basis of the Solvay process (by-product), natural brine, and limestone and hydrochloric acid (HCL).
By application, the global calcium chloride market report studies the market by having it segmented into oil & gas, de-icing & dust control, construction, healthcare, animal sterilization, food & beverages, agriculture, and others.
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Competitive Analysis:
Players, with their performance set to uplift the global calcium chloride market outcomes, are Solvay (Belgium), Occidental Chemical Corporation (US), TETRA Technologies, Inc (US), Tangshan Sanyou Group Co., Ltd (China), Weifang Haibin Chemical Co., Ltd (China), Ward Chemical Ltd (Canada), Auro Chemical Industries Pvt. Ltd (India), Nedmag B.V. (The Netherlands), Zirax Limited (UK), and Sulaksh Chemicals (India). MRFR’s inclusion of these companies in the report discusses their impact on the market quite efficiently.
In December 2019, Nuberg EPC announced that it would build a calcium chloride plant for Oman Chlorine.
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