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 size reached US$ 1.2 Billion in 2022. Calcium hydroxide is a chemical compound that can be obtained by neutralizing hydrochloric acid with calcium hydroxide or be produced directly from limestone. It is a white, crystalline solid with high solubility, usually occurring naturally in the form of beads. The substance has a white crystalline structure at room temperature and is highly soluble in water. In order to maintain its hygroscopic properties, it is required to be kept in tightly sealed containers. As a desiccant, it maintains the constant relative humidity in water treatment plants. It also acts as an excellent meat tenderizer and firming agent. Apart from this, it finds extensive applications in the rubber, paint, agriculture, and transportation industries.
Global Calcium Chloride Market Trends:
The global market is primarily driven by the escalating demand for wastewater effluent treatment. This can be attributed to the rising water pollution levels and the increasing volume of wastewater. In addition to this, a considerable rise in the number of drilling and mining activities in the oil and gas sector is providing an impetus to the market. Moreover, the rapid product utilization in a wide range of industrial applications in the food and beverage (F&B) industry is also resulting in a higher product uptake. The growing usage of CaCl2 as a de-icing agent during winters acts as another significant growth-inducing factor for the market. Furthermore, the rising adoption of CaCl2 in the construction industry as a hydration catalyst is creating a positive market outlook. Some of the other factors contributing to the market include considerable growth in the construction sector, inflating disposable income levels and extensive research and development activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1.7 Billion by 2028, exhibiting a CAGR of
5.32% during 2023-2028.
- Based on the application, the market has been segmented into de-icing, dust control and road stabilization, drilling fluids, construction, industrial processing, and others.
- On the basis of the product type, the market has been divided into liquid, hydrated solid, and anhydrous solid.
- Based on the raw material, the market has been categorized into natural brine, solvay process (by-product), limestone and HCL, and others.
- On the basis of the grade, the market has been classified into food grade and industrial grade.
- On the geographical front, the market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these 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.
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