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The latest report by IMARC Group, titled “North America Calcium Chloride Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the North America calcium chloride market reached a value of US$ 736 Million in 2021. Calcium chloride, with the chemical formula CaCl2, is an ionic compound that is obtained by the ionic bonding of calcium cations and chloride anions. It is a whitish, anhydrous salt that acts as an ionic halide that stays solid at room temperature. Calcium chloride is soluble in water and is utilized in the oil and gas industry for well drilling activities. It is also used as a de-icing agent and in plastic manufacturing, wastewater treatment plants, construction, and blast furnaces. When added to concrete, calcium chloride increases the hydration rate while reducing the water content rapidly. Due to its hygroscopic nature, calcium chloride is usually stored in airtight containers and used as a drying agent in the North American region.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
North America Calcium Chloride Market Trends:
North America is one of the largest markets for calcium chloride in the world. The North America calcium chloride market is primarily driven by its growing demand in de-icing and dust control activities across the region. In addition, with the significant growth of the food sector, there has been escalating the demand for calcium chloride to keep food items fresh and safe. It is also used as a firming agent in canned fruits and vegetables. Besides this, calcium chloride finds application in concrete acceleration, brine refrigeration, dust control, tire weighting, and other chemical processes, which is fueling the market growth. Furthermore, the growing consciousness regarding depletion of conventional gas resources and maturing of existing hydrocarbon resources has resulted in the shift toward unexplored oil and gas reservoirs to keep pace with the growing demand. As a result, the consumption of calcium chloride has increased as an essential raw material used in drilling fluids. Looking forward, the market is expected to reach a value of US$ 995.36 Million by 2027, exhibiting a CAGR of 5.10% during the forecast period (2022-2027).
Market Summary:
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