A recent research report published by Transparency Market Research anticipates the global calcium chloride market to expand at a CAGR of 4.20% during the period between 2015 and 2023. The report, titled “Calcium Chloride Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023”, projects the market to be worth US$1.2 bn by 2023. The global calcium chloride market stood at a valuation of US$0.8 bn in 2014.
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Calcium chloride is used in a number of applications across various sectors such as construction, oil and gas, food, and medicine. The chemical compound decreases the freezing point of water and hence is extensively used as a de-icing agent. Calcium chloride is also used as a dust control agent, preservative, and desiccant. The report points out that the growing demand for de-icing salt and food preservatives has propelled the global calcium chloride market. However, potential side effects of calcium chloride, availability of substitutes, and various regulations issued by regulatory bodies regarding the usage of the compound will negatively affect the growth of the global calcium chloride market. The overall market has a huge opportunity to grow with the rising demand for calcium chloride from the waste treatment industry. Potential applications of calcium chloride in the agriculture sector will also open new growth avenues for the market.
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In terms of applications, the report segments the global calcium chloride market into oil and gas, construction, de-icing and dust control, and others. In 2014, the de-icing and dust control application segment dominated the overall market in terms of revenue and volume. Application of calcium chloride across the construction sector is expected to increase at a moderate rate during the forecast horizon.
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The report studies the global calcium chloride market across five key regions: North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. In 2014, North America held more than 40% of the market and was the largest consumer of calcium chloride across the world. The growth of the regional market can be attributed to the rise in the consumption of calcium chloride as a de-icing and dust control agent. The increase in drilling activities in North America in recent years is expected to boost the market during the forecast period. Asia Pacific is anticipated to be the fastest growing region in the market during the period from 2015 to 2023. In the Middle East and Africa, the market is expected to grow at a sluggish rate.
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The global calcium chloride market is highly fragmented. In 2014, the top five players accounted for more than 60% of the market. The report profiles some of the key players operating in the global calcium chloride market, such as Tetra Chemicals, Solvay S.A., BJ Services Company, Occidental Chemical Corporation, Tiger Calcium Services Inc., Ward Chemical Inc., Tangshan Sanyou Group, Zirax Group, Weifang Haibin Cemical Co. Ltd., and Qingdao Huadong Calcium Producing Co. Ltd.
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