Global Calcium Chloride Market Report and Forecast 2023-2028

Global Calcium Chloride Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global calcium chloride market attained a value of USD 2262 million in 2022. Aided by increasing use in the construction industry and its application in the oil and gas industry, the market is projected to further grow at a CAGR of 6.4% between 2023 and 2028 to reach a value of USD 3315.62 million by 2028.

Calcium chloride is an inorganic salt with the chemical formula CaCl2, widely used in various industries, including construction, oil and gas, agriculture, and food and beverage, among others. Calcium chloride exhibits properties such as hygroscopicity, exothermic dissolution, and high solubility, making it a versatile compound with a wide range of applications. One of the primary factors driving the growth of the calcium chloride market is its increasing use in the construction industry. Calcium chloride acts as an accelerating agent in the concrete mix, reducing the setting time and increasing the early strength of the concrete. This property has led to a rise in demand for calcium chloride, particularly in regions with cold climates, where construction activities require quick-setting concrete to minimise weather-related delays.

Another significant factor propelling the growth of the calcium chloride market is its application in the oil and gas industry. Calcium chloride is utilised as a drilling fluid additive to maintain wellbore stability and prevent the hydration and swelling of clay particles. Furthermore, it is employed as a completion fluid in oil and gas wells to control downhole pressure, reducing the likelihood of formation damage. The ongoing expansion of the oil and gas industry is expected to continue driving the demand for calcium chloride in the coming years and boost the growth of the calcium chloride market.

The growing global population and the increasing need for food production have led to a higher demand for calcium chloride as a soil amendment. Moreover, calcium chloride is an essential component in the production of fertilizers and plant nutrients, further contributing to the growth of the calcium chloride market. The rising focus on environmental sustainability and the adoption of eco-friendly de-icing solutions have also positively impacted the calcium chloride market. Calcium chloride is a popular alternative to traditional road salt for de-icing purposes, as it is less corrosive and has a lower freezing point. As governments and municipalities worldwide prioritise sustainable and environmentally friendly practices, the demand for calcium chloride as a de-icing agent is expected to grow.

Market Segmentation

The market can be divided on the basis of product type, raw materials, grade, industrial application, and region.

Market Division by Product Types:

• Liquid
• Hydrated Solid
• Anhydrous Solid

Market Segmentation by Raw Materials:

• Natural Brine
• Solvay Process (by-Product)
• Limestone and HCl
• Others

Market Bifurcation by Grade:

• Food Grade
• Industrial Grade

Market Segregation by Industrial Application:

• De-Icing
• Dust Control and Road Stabilisation
• Drilling Fluids
• Construction
• Industrial Processing
• Others

Market Breakup by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global calcium chloride companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Occidental Chemical Corporation
• TETRA Technologies, Inc.
• Solvay
• Tiger Calcium
• Ward Chemical Ltd.
• Hawkins Inc.
• Zirax Limited
• Others

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.