ALBANY, New York, January 17, 2017 /PRNewswire/ --
Transparency Market Research has published a new report titled "Calcium Chloride (Flakes 77%, Flakes 94%, Prills 94%, Pellets 94% and Liquid) Market for Deicing, Dust Control, Drilling Fluids, Construction, Industrial Processing and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024." According to the report, the global calcium chloride market was valued at US$ 1.04 Bn in 2015 and is anticipated to reach US$ 1.52 Bn by 2024, expanding at a CAGR of 4.2% from 2016 to 2024.
Rising demand for calcium chloride from dust control and deicing applications is anticipated to drive global calcium chloride market in the next few years. Calcium chloride decreases the freezing point of water and hence widely used as a deicing salt in colder countries of Europe and North America. Calcium chloride is employed as a dust suppressant on roads and mining sites as it retains moisture and stabilizes the unpaved roads. Expansion of calcium chloride capacities in Middle East is anticipated to bring immense opportunities in the overall calcium chloride market.
Flakes 77% calcium chloride held more than 35% volume share in the global calcium chloride market in 2015. It is projected to grow at a moderate pace during the forecast period. Flakes 77% are mostly produced by refining of naturally occurring brine. It is widely used in deicing, dust control and industrial processing application. In terms of revenue, prills 94% are likely to grow at a CAGR of more than 3.5% between 2016 and 2024. Prills 94% are mostly expensive than other product grades of calcium chloride.
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Drilling fluids application dominated the global calcium chloride market and accounted for more than 20% volume share in 2015. Calcium chloride is used in completion fluids in oil drilling and mining. Deicing is one of the major application segment of calcium chloride mostly used in snowfall prone countries in North America and Europe. Deicing application is projected to grow at a CAGR of more than 3.5% from 2016 to 2024. In terms of value, dust control application held more than 15% share in the global calcium chloride market in 2015. Construction application is anticipated to grow at a slower rate during the forecast period.
In terms of volume and value, North America held predominant share in the global calcium chloride market in 2015. This trend is anticipated to remain same during the forecast period. U.S. is the major consumer of calcium chloride in North America market. Rising demand from drilling & mining activities coupled with stable growth in deicing application is likely to drive calcium chloride market in North America. The calcium chloride market in Europe is projected to grow at a moderate pace during the forecast period. China and Japan are the major consumers of calcium chloride in Asia Pacific market.
Some of the key players in the calcium chloride market include OxyChem, Tetra Chemicals, BJ Services Company, Qingdao Huadong Calcium Producing Co. Ltd, Solvay S.A., Tiger Calcium, Ward Chemical, Inc., Weifang Haibin Chemical Co. Ltd., Zirax Limited, Aditya Birla Chemicals, The Dow Chemical Company, Nedmag and Gujarat Alkalies.
The report segments the global calcium chloride market into:
- Calcium Chloride Market - Application Analysis
- Dust Control
- Drilling Fluids
- Industrial Processing
- Others (Including agrochemicals, food, tire ballast, etc.)
- Calcium Chloride Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- North America
Related Research Reports:
- Calcium Carbonate Market: http://www.transparencymarketresearch.com/calcium-carbonate-market.html
- Copper Sulfate Market: http://www.transparencymarketresearch.com/copper-sulfate-market.html
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SOURCE Transparency Market Research