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/EIN News/ -- New York, USA, Aug. 10, 2022 (GLOBE NEWSWIRE) -- Calcium Chloride Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Calcium Chloride Market Information by Form, Grade, Raw Material, Application, and Region - Forecast till 2027”, the market is estimated to grow at a 4.3% CAGR to reach USD 1.53 Billion by 2027.
Calcium chloride is developed using a few key methods: as magnesium hydroxide’s by-product, the Solvay process, or from brines. These methods are inexpensive and generate massive amounts of low-grade calcium chloride. Some of the top calcium chloride producers in the world are the U.S. as well as China, where the evaporation of underground brines is used as a primary technique.
Furthermore, calcium chloride is also used as a concrete accelerator, tire filler, and dust suppressant. A few tests have proved that the chemical is more corrosive compared to water however, less than sodium chloride.
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The prominent companies in the calcium chloride industry include
The calcium chloride industry has been performing notably well worldwide, given the mounting product demand in de-icing and drilling operations. Over the years, the use of calcium chloride in pools, office buildings, and roads has been rising, driving the market demand. Calcium chloride also finds widespread use in the food sector for preserving food products. It helps preserve a variety of food items, and with their mounting demand in the market, the calcium chloride market is bound to see notable growth in the future as well.
Calcium chloride has various other applications in the food industry, for tenderizing meat, brewing beer, producing cheese, and acting as a firming agent in tinned vegetables and fruits. The exploding global population, in addition to the surging income levels of the consumers, raise the expansion rate of the food industry, which propels the demand for calcium chloride.
The rise in FDA's approval for anhydrous calcium chloride for use in food packaging should further enhance the growth potential of the calcium chloride market. It helps keep food packaging dry, an essential factor for a variety of food items as well as their delivery operations. Besides, emerging trends like the soaring number of fast-food chains and the heightened preference for dining out are favoring the food and beverage sector, a factor that will benefit the calcium chloride market in the long run.
In a few underdeveloped regions, the low availability of chief raw materials required for producing calcium chloride will be a huge challenge for the worldwide market.
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The global chemicals industry has been seeing a major decline following the outbreak of the COVID-19 pandemic. The pandemic has affected some of the major businesses across the globe, particularly in regions such as Europe and North America.
The calcium chloride market is bearing the brunt of the pandemic, in line with the economic crash. To prevent the virus from spreading further, companies are shutting down operations and production facilities while the government has restricted many of the manufacturing production activities. This has brought down the demand and the consumption rate of the chemical across most of the major end-use industries. However, MRFR anticipates that the worldwide market will remain strong all through the review period, as the lockdown is being lifted up in a few countries.
The different forms in which calcium chloride is usually available in the market include hydrated solid, liquid, and more.
The grades of calcium chloride are industrial, food-grade agricultural, and pharmaceuticals. Food grade calcium chloride is widely used for producing jam & jelly as it helps accelerate the firmness process.
Depending on raw material, the key segments can be Solvay process, natural brine, hydrochloric acid and limestone. The Solvay process is by far, the highest gainer in the market, since the method is quite cheap, and is basically pollution-free.
Major applications of calcium chloride are de-icing, dust control, construction, oil & had, agriculture, healthcare, animal sterilization, food and beverage, and more. The dust control and de-icing industries form the biggest share in the worldwide market, followed by the construction sector.
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North America is the global leader in the highest calcium chloride market, with the highest share. The rapid escalation in the use of calcium chloride as a de-icing agent, and in the drilling fluids and pharmaceutical sectors will further ensure steady market expansion in the region.
Europe is on track to be the second top market for calcium chloride market, thanks to the high level of snowfall in the region, particularly in the winter season. This is the case due to the rapid climatic changes. As a result, calcium chloride is extensively used to de-ice and melt snow. The use of calcium chloride is extremely high in various Europe countries during winters.
The Asia Pacific market can anticipate garnering the highest CAGR in the next few years, given the strong contributions from emerging countries like India, Japan and China. The spike in the demand and use of calcium chloride market in industries like petrochemical, oil & gas, and construction will be highly favorable for the APAC market in the ensuing years.
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