Press release
Calcium Chloride Market To Be Driven By The Growing Oil And Gas Industry In The Forecast Period Of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2020): USD 1.89 Billion
Forecast CAGR (2023-2028): 6.9%
Forecast Market Size (2026): USD 2.90 Billion
The global market for calcium chloride has grown significantly in recent years, owing to rising demand for dust control and de-icing applications. The global demand for calcium chloride is increasing as a result of increased demands from the oil and gas industry, and this trend is expected to continue.
Expanding application range of calcium chloride in the construction segment is expected to boost the global market's growth. The rising use of calcium chloride as a food preservative in the food processing industry is expected to fuel demand growth. Over the forecast period, the increasing potential applications for calcium chloride in waste treatment and agriculture are likely to provide many new opportunities for the global market.
Calcium Chloride Industry Definition and Major Segments
Calcium chloride is a salt with the chemical formula CaCl2. It is an inorganic compound. At room temperature, it is a white crystalline solid that is highly soluble in water. It is made by mixing calcium hydroxide with hydrochloric acid to neutralise it.
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On the basis of product type, the market can be segmented into:
Liquid
Hydrated Solid
Anhydrous Solid
The industry is divided based on raw material into:
Natural Brine
Solvay Process (by-Product)
Limestone and HCl
Others
The market is segregated based on grade into:
Food Grade
Industrial Grade
The market can be categorised on the basis of application into:
De-Icing
Dust Control and Road Stabilisation
Drilling Fluids
Construction
Industrial Processing
Others
Regionally, the industry is segmented into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Calcium Chloride Market Trends
The global market for calcium chloride has grown significantly in recent years, owing to rising demand in dust control and de-icing activities, and in the gas and oil industries. During the forecast period, an expanding application range of calcium chloride in the construction segment is expected to enhance the global market's growth. Moreover, the growing use of calcium chloride as a food preservative in the food processing industry is likely to drive market expansion in the coming years. Calcium chloride's functional property of lowering the freezing point of water has also resulted in increased market demand.
Key Market Players
The major players in the market are Occidental Chemical Corporation, TETRA Technologies Inc., Solvay, Tiger Calcium, Ward Chemical Ltd., and Zirax Limited, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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