Published: Aug, 2018
The report by Transparency Market Research (TMR), the global calcium chloride market has highly consolidated landscape due to the presence of numerous players operating in the global market. Some of the key players in the market are TETRA Chemicals, B.J. Services, OxyChem, Solvay S.A, Tiger Chemicals, Occidental Chemical Corporation, Weifang Haibin Chemical Co. Ltd., Sulaksh Chemicals, Zirax Limited, Aditya Birla Chemicals, Nedmag, Sitara Chemical Industries Ltd., The Dow Chemical Company, and Gujarat Alkalies. The key players including OxyChem, B .J Services, and TETRA Chemicals accounted for the larger share of around 69.1% in 2015. The key players are focusing on the expansion of business across the regions to maintain their dominance in the global market.
According to a report by Transparency Market Research (TMR), the global calcium chloride market is expected to expand with a CAGR of 4.2% from 2016 to 2024, to attain the value of US$ 1.52 bn by the end of 2024. Based on applications, the market is dominated by the drilling fluids segment and is expected to continue to dominate over the forecast period by accounting 24.9% of share. Based on the region, North America is dominating the global calcium chloride market with the share of the 46.0% and expected to continue its dominance over the forecast period.
Extensive Applications in Numerous Verticals to Drive Growth
Extensive demand of calcium chloride is for de-icing applications in numerous cold countries is a key factor bolstering growth of the global calcium chloride market. Calcium chloride is used as a dust suppressant in dust control applications and as a concrete accelerator in cement industry owing to its favorable chemical properties. Additionally, the calcium chloride is used in the oil and gas industry as dust suppressant and this trend is expected to boost growth of the market over the forecast period.
In addition, widening its applications in the construction industry and food and beverages industry is supporting growth of the global market for calcium chloride over the forecast period. In the food and beverages industry calcium chloride is used in the food processing. Increasing demand for processed food is propelling growth of the calcium chloride market.
Corrosive Character to Restrain Growth
Despite of these growth prospects, availability of substitutes and inexpensive production techniques leading to production of low-grade calcium chloride is limiting growth of the market. Additionally, corrosive character of calcium chloride which is more than corrosiveness of water making calcium chloride unsuitable to be used for numerous applications. This is another factor hampering growth of the calcium chloride market. Nevertheless, growing potential applications for calcium chloride especially in waste treatment & agriculture sectors are creating lucrative opportunities for the key players operating in the global market in upcoming years.
This information is comprised in the new report by TMR, titled “Calcium Chloride Market (Product - Flakes 77%, Flakes 94%, Prills 94%, Pellets 94%, and Liquid Grade; Application - De-icing, Dust Control, Drilling Fluids, Construction, and Industrial Processing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2024.”
Global calcium chloride market has been segmented as:
- Flakes 77%
- Flakes 94%
- Prills 94%
- Pellets 94%
- Liquid Grade
- Dust Control
- Drilling Fluids
- Industrial Processing
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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