According to the latest report by IMARC Group, titled "Calcium Chloride Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," estimates that the global calcium chloride market size reached US$ 1.06 Billion in 2020. Calcium chloride is an inorganic compound that is characterized by high solubility. It is an ionic compound of calcium and chlorine with the chemical formula CaCl2. The crystalline solid is characterized with a white color that is obtained by neutralizing hydrochloric acid with calcium hydroxide. It is hygroscopic in nature due to which it is increasingly used as a desiccant in water treatment plants to maintain a constant state of dryness. It is also used as a de-icing, food processing and dust control agent and is employed in the production of plastics, concrete, paint and medicines.
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Global Calcium Chloride Market Trends:
The global market is primarily driven by the increasing utilization of calcium chloride in the construction sector as a concrete accelerator, which assists in providing high initial strength by speeding up the hydration process. A considerable rise in construction activities across the globe, especially in developing economies, is anticipated to provide an impetus to the market growth. Apart from this, the compound is employed in the mining sector as a maintenance material for the construction of haul roads. This can be attributed to the deliquescent nature of calcium chloride that enables it to absorb moisture from the air and add density to the roadway. Additionally, it finds extensive applications as a de-icing agent on the roads, sidewalks and pavements during winters to lower the freezing point of water. The market is further driven by the extensive applications of calcium chloride across the food and beverages sector in the preparation of beer, cheese and canned fruits and vegetables. It is widely employed across the industry as a flavor enhancer, preservative, and tenderizing and firming agent, thereby providing an impetus to the market growth. Some of the other factors contributing to the market growth include the rising utilization of calcium chloride as a dust controlling agent and its increasing requirement from the oil and gas industry as a drilling fluid in the gas well drilling. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1.50 Billion by 2026, exhibiting a CAGR of 5.78% during 2021-2026.
- Based on the product type, the market is segmented into hydrated solid, anhydrous solid and liquor. Amongst these, liquor represents the most popular product type, holding the dominant share.
- On the basis of the application, de-icing exhibits a clear dominance in the market. 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 majority of the total market share.
- Based on the grade, industrial grade calcium chloride is the largest market segment, followed by food grade.
- Region-wise, the market is categorized into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, North America holds the leading position in the market.
- The key players operating in the market include Occidental Petroleum Corp. (OxyChem), Tetra Chemicals, B. J. Services, Solvay S.A., and Tangshan Sanyou Group Co., Ltd.
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