GCC Calcium Chloride Market to Grow at 3.33% During 2024-2032, Propelled by Growing Product Utilization in Oil and Gas Sector

March 30, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled "GCC Calcium Chloride Market Report by Application (De-Icing, Dust Control and Road Stabilization, Drilling Fluids, Construction, Industrial Processing, and Others), Product Type (Liquid, Hydrated Solid, Anhydrous Solid), Raw Material (Natural Brine, Solvay Process (by-Product), Limestone and HCL, and Others), Grade (Food Grade, Industrial Grade), and Country 2024-2032," the GCC calcium chloride market is expected to grow at a CAGR of 3.33% during 2024-2032. Calcium Chloride (CaCl2) refers to an odorless crystalline solid characterized by its high solubility and hygroscopic nature. It is an inorganic ionic compound of chlorine and calcium acquired by neutralizing hydrochloric acid with calcium hydroxide. It can also be directly obtained from the limestone as a by-product of the Solvay process. Calcium chloride absorbs moisture from the atmosphere, which extends the duration of relative humidity and slows down corrosion. As a result, it is extensively used as a desiccant in water treatment plans to maintain a continuous state of dryness. Apart from this, it is widely used in medicine, food preservation, paints, industrial processing, transportation, agriculture, construction, and road stabilization applications.

GCC Calcium Chloride Market Trends:

The rising demand for calcium chloride from the bolstering oil and gas industry for developing and maintaining wells, providing uniformity and consistency, improving density, drilling fluids, and stabilizing shale formations is primarily driving the market growth in the GCC. In addition to this, the widespread product adoption across the thriving construction sector to strengthen and speed up the hydration of concrete is aiding in market expansion. In line with this, rapid urbanization, expanding construction activities, and extensive spending on infrastructural developments across the region are presenting remunerative growth opportunities for the market. Moreover, inflating disposable incomes and shifting consumer preferences for affluent lifestyles are prompting the inclusion of swimming pools in urban residences. This, in turn, has facilitated the employment of calcium chloride as a potential hydrogen (pH) buffer to help control the water's calcium hardness, which is acting as another growth-inducing factor. Besides this, increasing product utilization to bind aggregate particles together, keep the road damp during hot and dry weather conditions, and suppress the dust on roadways, is impelling the market growth. Furthermore, the widespread adoption of calcium chloride as a flavor enhancer, preservative, and firming agent across the thriving food and beverage (F&B) sector is strengthening the expanding market.

Market Summary:

On the basis of the application, the market is segregated into de-icing, dust control and road stabilization, drilling fluids, construction, industrial processing, and others.
Based on the product type, the market is categorized into liquid, hydrated solid, and anhydrous solid.
On the basis of the raw material, the market has been classified into natural brine, Solvay process (by-product), limestone and HCL, and others.
Based on the grade, the market has been bifurcated into food and industrial grades.
On the basis of the country, the market has been segmented into Saudi Arabia, UAE, Qatar, Oman, Kuwait, and Bahrain.
The competitive landscape of the industry has also been examined, covering the competitive structure and key player profiles.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Application, Product Type, Raw Material, Grade, Country
Countries Covered	Saudi Arabia, UAE, Qatar, Oman, Kuwait, Bahrain
Customization Scope	10% Free Customization
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GCC Calcium Chloride Market to Grow at 3.33% During 2024-2032, Propelled by Growing Product Utilization in Oil and Gas Sector

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