Global Calcium Chloride Market to Reach US$ 1.7 Billion by 2028, Impelled by Increasing Product Demand in Oil and Gas Industry

March 01, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled "Calcium Chloride Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global calcium chloride market reached a value of US$ 1.2 Billion in 2022. Calcium chloride is an organic compound with the chemical formula CaCl2. It is a salt made up of calcium and chlorine ions. It is a white, crystalline powder that is highly soluble in water and several organic solvents. It is hygroscopic, usually kept in airtight containers, and commercially available in liquid and anhydrous forms. It is commonly used as a drying, de-icing, and refrigeration agent. It is also used in the food industry as a firming agent for fruits and vegetables and in the production of calcium supplements. Calcium chloride is used on unpaved roads and highways to control dust and prevent soil erosion. It is added to concrete to accelerate the setting time and increase the strength of the concrete. It is widely used in the medical industry as a source of calcium for intravenous fluid replacement and resuscitation in emergency situations.

Global Calcium Chloride Market Trends:

The global market is majorly driven by the rising product demand for dust control and de-icing activities. In line with this, the increasing demand for calcium chloride in the oil and gas industry for drilling fluids applications is significantly contributing to the market growth. Furthermore, the widespread application of calcium chloride in the construction segment is positively influencing the market. Apart from this, the rapid utilization of the product as a food preservative in the food processing industry is catalyzing the market. Moreover, the growing product applications in wastewater treatment and the escalating product usage in beer brewing and meat tenderization are propelling the market. Besides, the heavy investments by governments worldwide in infrastructure development activities are strengthening the market. Some of the other factors driving the market include the rapid product utilization in the manufacturing of various concentrations of calcium chloride pellets, the increasing construction activities worldwide, and the growing product demand in the mining industry. On account of the factors above, the market is anticipated to reach a value of US$ 1.7 Billion by 2028, exhibiting a CAGR of 5.32% during 2023-2028.

Market Summary:

On the basis of the application, the market has been categorized into de-icing, dust control and road stabilization, drilling fluids, construction, industrial processing, and others. Among these, de-icing exhibits a clear dominance in the market.
Based on the product type, the market has been classified into liquid, hydrated solid, and anhydrous solid. Hydrated solid CaCl2 is currently holding the largest share in the market.
Based on the raw material, the market has been segmented into Natural Brine, Solvay Process (by-Product), Limestone and HCL, and others. At present, natural brine accounts for the highest share in the market.
Based on the grade, the market has been categorized into food grade and industrial grade, wherein industrial grade represents the largest market segment.
On the basis of the region, the market has been divided into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Among these, North America holds the leading position in the market.
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Occidental Petroleum Corp., Tetra Technologies, Inc., B. J. Services, Inc., Solvay S.A. (Solvay Group), Tangshan Sanyou Group Co., Ltd., Qingdao Huadong Calcium Producing Co. Ltd., Tiger Calcium Services Inc., Ward Chemicals Inc., Weifang Haibin Chemical Co., Ltd, Weifang Taize Chemical Industry Co., Ltd, and Zirax Ltd.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	Million Tons, US$ Billion
Segment Coverage	Product Type, Grade, Application, Raw Material, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Occidental Petroleum Corp., Tetra Technologies, Inc., B. J. Services, Inc., Solvay S.A. (Solvay Group), Tangshan Sanyou Group Co., Ltd., Qingdao Huadong Calcium Producing Co. Ltd., Tiger Calcium Services Inc., Ward Chemicals Inc., Weifang Haibin Chemical Co., Ltd, Weifang Taize Chemical Industry Co., Ltd, and Zirax Ltd.
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Global Calcium Chloride Market to Reach US$ 1.7 Billion by 2028, Impelled by Increasing Product Demand in Oil and Gas Industry

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