Calcium Hydride Market
Calcium Hydride Market (Purity:99% and Above 99%; and Application: Hydrogen Generation, Reducing Agent for Metal Oxides, Drying Agent, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Widening Applications in Different End-use Industries to Boost Market Growth
Research and development activities have played a key role in shaping the modern-day chemical sector. The discovery of new compounds and elements and their potential uses have opened up several key avenues in various industries. Calcium hydride has gradually emerged as one of the most critical hydride compounds that is increasingly being used in several applications. One of the leading factors that is expected to have a strong influence on the overall growth trajectory of the global calcium hydride market is the growing adoption of hydrogen in an array of end-use industries. Strides taken in hydrogen storage research, widening battery applications, and developments in the fuel cell technology are some of the other factors that are likely to propel the growth of the calcium hydride market during the assessment period.
Due to mounting environmental concerns, the quest for sustainable and green energy production solutions has witnessed notable growth over the past decade due to which, the demand for hydrogen gas has grown at a consistent rate. In addition, due to the regulatory pressure, various industries are increasingly focusing on minimizing carbon emission levels due to which, the demand for hydrogen gas is expected to grow– a factor that is likely to have a direct impact on the growth of the global calcium hydride market. At the back of these factors, the global calcium hydride market is expected to attain a market value of ~US$ 1 Bn by the end of 2030.
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Increasing Adoption in Hydrogen Production to Fuel Market Growth
Over the past couple of decades, environment protection has received considerable attention from the industrial sector, particularly in the developed region. Hydrogen, which is primarily produced from water, renewables, and fossil fuels is increasingly being used in various industries due to its non-polluting nature. Due to the soaring demand for hydrogen gas, industry players are largely focusing on the development of compact, reliable, cost-efficient hydrogen delivery and storage technologies. Apart from the production of hydrogen, calcium hydride is also used a desiccant chemical, and in the production process of different metals, including chromium, zirconium, and titanium using the Hydromet technique.
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Owing to chemical composition, calcium hydride is increasingly being used as a reducing drying agent for selected solvents. In addition, calcium hydride is also used a pre-drying agent to eliminate solvents prior to using aggressive desiccants. Participants operating in the current calcium hydride market landscape are increasingly focusing on addressing the challenges associated with using calcium hydride in industrial applications, including inflammable nature.
Focus on Decarbonizing of Economies to Increase Demand for Calcium Hydride amid COVID-19 Pandemic
The ongoing COVID-19 pandemic has derailed the growth of several key industrial sectors, including automotive, manufacturing, agriculture, oil & gas, and tourism. While the growth of the calcium hydride market in 2020 is projected to remain slower than the anticipated growth, players operating in the calcium hydride market are expected to focus on capitalizing opportunities in the clean hydrogen sector worldwide to stay relevant in the current market landscape. As the hydrogen sector is gradually heading toward the pre-commercialization phase, several nations around the world are focusing on de-carbonization as a measure to prevent environmental degradation. Although the commercial roll-out and adoption of clean hydrogen is expected to be delayed by the COVID-19 pandemic, in the upcoming months, operations are likely to come back on track. However, due to the impact of the COVID-19 pandemic on the world economy, environmental policies could take a backseat in the upcoming months. The global calcium hydride market is expected to tread through an uncertain period in 2020 and likely to show signs of recovery toward the first quarter of 2021.
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The global calcium hydride market is expected to grow a moderate CAGR of 4.5% during the forecast period. The market growth can be primarily attributed to the growing adoption for the hydrogen production. The high demand for hydrogen as a clean source of energy will provide considerable opportunities to the players operating in the current market for calcium hydride during the assessment period. While the production of hydrogen is expected to remain the primary application, the growing demand for calcium hydride as a reducing agent and high adoption in the manufacturing of different metals, including uranium, niobium, and titanium, will provide an impetus for growth of the global calcium hydride market during the forecast period.
Calcium Hydride Market: Overview
- Calcium hydride is an alkaline earth hydride. Calcium hydride reacts vigorously with water liberating the hydrogen gas.
- Calcium hydride is primarily used as a source of hydrogen. It is also used as a drying agent for liquids and gases. Furthermore, calcium hydride is employed as a reducing agent for metal oxides.
- Rise in demand for hydrogen gas in industrial applications such as production of ammonia and methanol is expected to augment the demand for calcium hydride in the near future. Calcium hydride is employed as a cleaner for blocked up oil wells in the oil refining industry.
- The moisture/water content in fuel and its derivatives, such as diesel and gasoline, is determined with the help of calcium hydride
- Hydrogen gas is used to convert crude oil into refined fuels such as gasoline and diesel. It also helps remove contaminants such as sulfur from crude oils.
- Calcium hydride is a key ingredient used in the manufacture of hydrogen gas. However, it is not economically feasible to produce large amounts of hydrogen gas from calcium hydride.
- Hydrogen gas is a core building block for the production of ammonia and hence, fertilizers. It is also employed in the production of methanol, which is used in the production of numerous polymers. Small amounts of methanol and ammonia can be produced from hydrogen extracted from calcium hydride that can be used in laboratories.
- Besides the reaction of calcium hydride and water, hydrogen can be produced through several methods such as steam methane reforming, electrolysis of sea water, and hydrogen from biomass
- Electrolysis of sea water is generally carried out for bulk production of hydrogen gas, which can be used as a clean fuel for vehicles. A small amount of pure hydrogen gas can be produced from calcium hydride.
- Increase in demand for hydrogen gas in experimental purposes is anticipated to propel the demand for calcium hydride in the near future
Key Challenges for Calcium Hydride Market
- Several alternatives of calcium hydride, such as sodium hydride and lithium aluminum hydride, are available in the market. Lower prices and easy availability of sodium hydride and lithium aluminum hydride as reducing agent are hampering the calcium hydride market.
- Calcium hydride is insoluble in all solvents with which it does not react actively as compared to lithium aluminum hydride (LiAlH4). Thus, speed of its drying action is slow vis-à-vis that of other saline hydrides.
- Saline hydrides such as sodium hydride and lithium aluminum hydride (also known as ionic hydrides or pseudohalides) are compounds that are formed by the reaction between hydrogen and highly active metals, especially with alkali and alkaline-earth metals of group one and two elements
Lucrative Opportunities for Players in Calcium Hydride Market
- Key players operating in the calcium hydride market, such as Albemarle Corporation and SHINYA CHEM need to primarily focus on their marketing strategies in order to consolidate their share. Furthermore, manufacturers have an opportunity to increase their sales workforce by expanding and strengthening their distribution channels.
- Chemical companies from countries in Southeast Asia can avail significant opportunities, as the degree of competition is low in the market. Countries in Southeast Asia such as Vietnam, Thailand, India, and Malaysia have the advantage of lower manufacturing cost compared to that in the U.S. and China.
- Existing companies as well as new entrants also need to focus on competitive pricing, as key players operating in the market have integrated operations. Companies can focus on enhancing the quality of materials used in industrial and experimental applications. They can also focus on reducing the production cost of calcium hydride.
Asia Pacific Dominates Calcium Hydride Market
- Asia Pacific is the leading consumer of calcium hydride across the globe. In terms of volume and value, the region is estimated to dominate the global calcium hydride market during the forecast period. Rapid growth in the chemical industry is boosting the demand for calcium hydride in Asia Pacific.
- High consumption of calcium hydride in the production of hydrogen is projected to drive the demand for calcium hydride in Asia Pacific during the forecast period
- Increase in consumption of calcium hydride as reducing and drying agent in the chemical industry in ASEAN, India, and China make Asia Pacific a lucrative region for calcium hydride
Leading Players in Calcium Hydride Market
- Major global manufacturers of calcium hydride include
- Albemarle Corporation
- Materion Corporation
- SHINYA CHEM
- Anhui Wotu Chemical Co., Ltd.
- Noah Technologies Corporation
- Spectrum Chemical Manufacturing Corp.
- Strem Chemicals, Inc.
Calcium Hydride Market – Scope of Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global calcium hydride market to gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating a landscape for the growth of the global calcium hydride market. The study also identifies growth avenues for market stakeholders. The report provides insightful information about how the global calcium hydride market is likely to expand during the forecast period of 2020 to 2030.
The report offers intricate dynamics about different aspects of the global calcium hydride market that can aid companies operating in the market in making strategic business decisions. TMR’s study also elaborates on significant changes that are anticipated to configure growth of the chemical industry with respect to the global calcium hydride market during the forecast period. It also includes a key indicator assessment that highlights growth prospects for the global calcium hydride market and estimates statistics related to growth of the market in terms of volume (tons) and value (US$ Mn).
This study covers a detailed segmentation of the global calcium hydride market, along with key information and a competition landscape. The report mentions company profiles of key players operating in the global calcium hydride market, wherein various market developments and growth strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Calcium Hydride Market
The report provides detailed information about the global calcium hydride market on the basis of a comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global calcium hydride market, which would help them design successful strategies and make target-driven decisions.
- Which purity segment of the global calcium hydride market would emerge as a leading revenue generator during the forecast period?
- What would be the Y-o-Y growth rate of the global calcium hydride market between 2020 and 2030?
- What are winning imperatives of leading players operating in the global calcium hydride market?
- Which application segment is expected to generate maximum revenue in the global calcium hydride market during the forecast period?
Research Methodology – Calcium Hydride Market
The research methodology adopted by analysts for compiling the report on the global calcium hydride market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the global calcium hydride market.
For primary research, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global calcium hydride market.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global calcium hydride market.
Calcium Hydride Market – Segmentation
TMR’s research study segments the global calcium hydride market in terms of purity, application, and region. This report presents extensive market dynamics and growth trends associated with different market segments and explains how they are influencing the global calcium hydride market.