Wide Spread Applicability in the Calcium Chloride Market
The Calcium Chloride market is expected to grow at 4.47% CAGR to reach a market volume of US$1,767.597 million by 2026.
Calcium Chloride is a crystalline white substance that is highly soluble in water and is remains solid at room temperature. Calcium chloride is a chloride salt of calcium that is widely used across several biological roles. Calcium chloride has a chemical formula of CaCl2. Calcium chloride can be created by neutralizing hydrochloric acid with calcium hydroxide. Besides, in countries like the US, it is obtained from brine. Calcium chloride is primarily used as a hydrated solid in dust control and de-icing processes. It is a naturally occurring salt that is derived from limestone. The growing use of calcium chloride in the oil and gas industry coupled with increasing demand for calcium chloride in de-icing operations is driving demand in the market. It is widely used across regions receiving heavy snowfall. Furthermore, it is used as food additives and in water purification processes in water treatment plants. Moreover, the use of calcium chloride is regulated by various regulatory bodies such as FDA, FAO, etc.
Calcium Chloride is widely used across industry verticals. Calcium chloride is extensively used as a de-icing agent owing to its ability to extract moisture from its surroundings and causing exothermic reactions. Moreover, it is also used in highway maintenance for dust laying and snow & ice control applications. Calcium chloride absorbs moisture, thereby preventing dust formation. Also, it helps in melting ice. Additionally, calcium chloride is used as food additives as an integral source of calcium. Moreover, it is extensively used in paper manufacturing, petroleum, and the construction industry. In the paper manufacturing industry, calcium chloride is used for De-inking; improve dye retention, and strengthening corrugated media. Besides, calcium chloride is used in the construction industry for soil solidification and tractor tire weighing. Moreover, in the petroleum industry calcium chloride is extensively applied for drying petroleum fractions, cementing finished oil wells, and as a drilling mud additive.
Collectively these widespread applications across industry verticals are driving demand for calcium chloride.
However, the use of these chemicals poses serious health hazards such as body pain, irregular heartbeats, kidney stones, etc., if not examined properly before use. Moreover, it can also lead to heavy metal contamination within industrial applications.
Prominent players in the Global calcium chloride market are Occidental Petroleum Chemicals, Tetra Technologies Inc., Solvay S.A, Tiger Calcium, Ward Chemical Ltd., Medmeg, Zirax Limited, Auro Chemical, and The Sanmae group among others. Prominent market players are taking integral steps to grow and sustain in the calcium chloride market. For instance, Tetra Technologies recently announced its plan to join the RUSSEL 3000 index to build the company's shareholder value.
The surging demand and increasing use of Calcium Chloride applications in the De-Icing and Dust Control industry segment will drive the market growth
Calcium Chloride is being extensively used in De-icing and Dust Control segment, thereby surging demand for calcium chloride applications in the market. Calcium chloride aids in depressing the freezing point of water, thereby facilitating the de-icing of water. Moreover, it doesn't cause any harm to plants and soil as it does not interfere in plant growth or related soil nutrients. Concerning the availability of the mentioned properties, calcium chloride is extensively applied across agriculture and road construction agencies owing to its de-icing capabilities. Moreover, Calcium chloride is extensively used in water purification processes. These factors collectively are demand in the calcium chloride market through De-icing and dust control applications.
Regional Market trends in Calcium Chloride Market
Eminent market players around the world have adopted various business strategies to sustain, grow and expand their operations in the calcium chloride market by applying varied business strategies across industry application segments. Pivotal corporations such as Tetra Technologies, Solvay S.A, Ward Chemical Limited, etc. have employed numerous business strategies including partnerships, takeovers, mergers, and other related collaborative agreements to develop and offer sustainable solutions across varied businesses applications verticals worldwide.
In tandem with such collaborative agreements and innovative practices, the North American region has resulted in the considerable development of the market on the whole. The North American region holds a notable market share and is anticipated to grow at a decent CAGR over the forecasted period. The growth in the North American region is majorly driven by the rising usage of calcium chloride as a prime de-icing agent is driving demand in the market. Moreover, supporting weather conditions facilitates the large-scale application of calcium chlorine is boosting demand in the market. Furthermore, the growing adoption of calcium chloride in the pharmaceutical industry is expected to augment the demand in the market over the forecasted period. For instance, Tetra technologies Inc. announced the disinvestment in CSI Compressco LP US$30.7million.
Whereas, the Asia Pacific region is estimated to hold a noteworthy growth rate over the forecasted period. Growing demand for calcium chloride in the construction industry in the region is burgeoning demand in the market. Furthermore, emerging economies in the region such as India, China have increasingly adopted calcium chloride in the agriculture and food processing industry. For instance, Nuberg Plc announced its plan to build Chlor-alkali and calcium chloride plant for Oman based company, Oman chlorine.
COVID Insights
The COVID-19 pandemic positively impacted the calcium chloride market. The COVID-19 induced lockdown and movement restrictions led to the confinement of people in their homes. With people confined to their homes, it has resulted in an augmented use of calcium chloride in home-based solutions such as swimming pools and the purification of water treatment plants. However, the use of calcium chloride across other industry segments was impacted owing to supply chain disruption, lack of availability of labor, and declining demand for solutions in allied industries.
