Press release
Global Calcium Chloride Market: North America Dominates due to Demand for De-icing and Dust Control Applications, finds TMR
Companies manufacturing calcium chloride have a significant impact on the value chain. They manufacture raw materials and the final product for use in various applications. According to the TMR report, the global calcium chloride market would likely reach a value of US$1.205 bn by 2023, registering a modest CAGR of 4.2% between 2015 and 2023.
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Demand in Different Applications to Make Asia Pacific Grow at Maximum Pace
Depending upon its various applications, the global market for calcium chloride can be segmented into oil and gas, de-icing and dust control, construction, and others, which includes medicine and food. The de-icing and dust control application led the global market vis-à-vis volume and revenue in 2014 on the back of the increasing usage of calcium chloride as a de-icing salt, particularly in the cold countries of Finland, Russia, Norway, Sweden, and the U.S. In the upcoming years too, the TMR report predicts that the de-icing and dust control segment will drive growth.
The oil and gas application has emerged as the second-most popular segment in the market. This is primarily on account of the Middle Eastern nations making use of calcium chloride to maintain oil and gas wells and improve the production of the same. The application of calcium chloride in the construction industry, where it is used in concrete mixes to help speed up the initial setting in construction, is also slated to inch up in the forthcoming years. In 2014, the segment held a 13.0% market share.
Geography-wise, North America dominated the global market for calcium chloride in 2014 with a share of more than 40%. This was mainly on account of the strong demand for calcium chloride for de-icing and dust control. Increasing drilling activities in the region is also predicted to drive growth from 2015 to 2023. Alongside North America, Europe has emerged as a key market for calcium chloride. However, in terms of growth rate, Asia Pacific is expected to outpace the two continents during the forecast period.
Usefulness in Lowering Freezing Point of Water Drives Growth
De-icing salts are used to stave off accidents caused by slippery ice and snow on roadways and sidewalks. This is because the compound aids in lowering the freezing point of water. It also helps suppress the dust on roads that mixes with the air in the surroundings, thereby lowering levels of air pollution. These crucial benefits have substantially filliped the global market for calcium chloride. Further, the fast expanding canned food and fruits industry is slated to drum up demand for calcium chloride, which finds application as a preservative and as a firming agent.
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The U.S. Food and Drug Administration (FDA) and the EPA have stipulated maximum levels of calcium chloride content in food and medicines. Exceeding that amount may result in fatal injuries. Such potential side effects of calcium chloride are predicted to dampen the growth of the global market.
This review is based on the findings of a TMR report titled “Calcium Chloride Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2023.”
Calcium Chloride Market, by Application
De-icing & dust control
Oil and gas
Construction
Others (Including food, medicine, etc.)
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