Global Calcium Chloride Market to Reach US$ 1.35 Billion by 2024

The latest report by IMARC Group, titled “Calcium Chloride Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global calcium chloride market size reached US$ 1.35 Billion in 2018, growing at a CAGR of 6% during 2011-2018. Calcium chloride, with the chemical formula CaCl₂, is an ionic compound of calcium and chlorine, which is highly soluble in water. It remains solid at room temperature and behaves as a typical ionic halide. Calcium chloride is generally found in small quantities, along with other salts, in seawater and mineral springs. It is used as a food additive, preservative, and brine in refrigeration plants. Besides this, it is also utilized as a drying agent in water treatment plants.

Global Calcium Chloride Market Trends:

The applications of calcium chloride as a dehumidifier and concrete accelerator have increased its demand, primarily in the concrete industry. A rise in construction and mining activities, particularly in the developing countries, has propelled the sales of calcium chloride since it is largely used as a dust controlling agent. Additionally, as it can lower the freezing point of water, it is used as a de-icing agent on roads, pavements and sidewalks during winters. Consequently, it is widely utilized in regions which experience heavy snowfall, such as Europe and North America. Furthermore, the liquid form of calcium chloride is a common raw material that is employed as a drilling fluid in the gas well drilling industry. Rising demand for oil and gas from numerous countries has impelled the sales of calcium chloride across the world. On account of these factors, the market is anticipated to reach a value of about US$ 1.8 Billion by 2024, at a projected CAGR of 5.3% during 2019-2024.

Market Summary:

• Based on the product type, the market is segmented into hydrated solid, anhydrous solid and liquor. Amongst these, hydrated solids represent the most popular product type, holding the dominant share.
• On the basis of the application, de-icing represents the biggest application area. Other segments include dust control and road stabilization, drilling fluids, construction, and industrial processing. 
• On the basis of the raw material, the market is segregated into natural brine, Solvay process (by-product), and limestone and hydrochloric acid. Currently, natural brine accounts for the largest market share.
• Based on the grade, industrial grade calcium chloride dominates the market, followed by the food grade segment. It is extensively used in diverse industries owing to its numerous advantages, such as easy dilution process and reduction in emission of hazardous gases.
• Region-wise, the market is categorized into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, North America is the leading market.
• The key players operating in the market include Occidental Petroleum Corp. (OxyChem), B. J. Services, Solvay S.A., Tetra Chemicals, Tiger Calcium Services, Ward Chemicals, Weifang Haibin Chemical Co. Ltd., Tangshan Sanyou Group Co., Ltd., Qingdao Huadong Calcium Producing Co. Ltd., Weifang Taize Chemical Industry Co. Ltd. and Zirax Ltd.

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