Calcium Chloride Market Will Experience a Noticeable Growth during the Forecast Period 2020 – 2027Published Date: August 7, 2020 |
Research Corridor has released a new market report titled “Calcium Chloride Market for De-icing & Dust Control, Oil & Gas, Construction and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027.” According to the report, the global calcium chloride market was valued at over USD 1.5 billion in 2019 and is anticipated to grow at a CAGR of around 5% from 2020 to 2027.
Increasing demand for calcium chloride from the de-icing and dust control application is driving the growth of the calcium chloride market. The property of calcium chloride to depress the freezing point of water has led to its high demand in the market. This makes calcium chloride applicable as a de-icer in the removal of snow and ice on driveways, walkways, and sideways. It is also used as a dust control agent. It suppresses dust on roads from mixing with the air in the environment, thereby reducing pollution. Considering the factors mentioned above, the calcium chloride market is anticipated to witness a significant rise in demand from the de-icing application, especially in the U.S. However, potential side-effects of calcium chloride and regulations may hamper the market growth in the next few years.
De-icing and dust control and oil and gas are the major applications of calcium chloride in the market. Along with being the major market, de-icing and dust controls also anticipated to be the fastest-growing application segment due to increasing demand for usage in de-icing applications in developed economies. De-icing and dust control applications accounted for a major share of the global market in 2019. The oil & gas segment is anticipated to grow significantly, due to rising demand for calcium chloride in several applications such as drilling fluids and completion fluids. The calcium chloride market for construction is expected to grow moderately due to sluggish growth in the industry, especially in North America and Europe. The other segment comprising food, agriculture, and medicine is anticipated to boost the demand for calcium chloride in the near future.
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North America accounted for the largest market share of over 40% of the global calcium chloride market in 2019. Calcium chloride is used in high quantities as a de-icer in the removal of ice and snow in the region. Therefore, North America is expected to be the largest and fastest-growing market for calcium chloride in the near future. Europe was the second-largest market for calcium chloride in 2019. Developing economies in the Asia Pacific is expected to be the second fastest-growing market for calcium chloride. Growth in end-user industries such as construction in the region is anticipated to boost demand for calcium chloride during the forecast period.
Key players in the calcium chloride market include TETRA Chemicals, OxyChem, Zirax, Qingdao Huadong Calcium Producing Co. Ltd., Tangshan Sanyou Group, and Solvay S.A., among others. The calcium chloride market is highly concentrated, with the top five companies accounting for more than 78% of the global market in 2019. Major companies are now focusing on backward integration to overcome volatility in availability and prices of raw materials, and gain a competitive advantage over other key players in the market.
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The report segments the global calcium chloride market as:
- Deicing and dust control
- Oil and gas
- Food & Beverage
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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