Transparency Market Research has published a new research report titled “Calcium Chloride Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024” to their report store.
Albany, NY -- (SBWIRE) -- 08/01/2017 -- De-icing is one of the primary uses of calcium chloride in the chemical industry. In addition, the demand for calcium chloride has surged steadily in the cement industry, where it is used as a concrete accelerator. The pace at which construction activities are rising worldwide, especially in the developing regions, is expected to augment the demand for calcium chloride in the coming years.
However, the oversupply of calcium chloride on account of its cheap and affordable mean of production could create challenges for the global calcium chloride market. Furthermore, its corrosive nature could restrict the market's growth in the coming years to an extent. Against this backdrop, the global calcium chloride market will continue exhibiting a positive CAGR of 4.2% between 2016 and 2024. At this pace, the market is expected to reach US$1.52 bn by the end of 2024. According to Transparency Market Research (TMR), the market stood at US$1.04 bn in 2015.
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Which region will exhibit the most demand for calcium chloride?
Regionally, North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa constitute the key segments within the global calcium chloride market. Among these regions, North America held dominance with a share of nearly 45% in terms of volume in the overall market in 2015. In colder countries, calcium chloride is extensively used for de-icing activities during severe snowfall. Besides this, the rising mining activities worldwide is likely to fuel the demand for calcium chloride in the coming years.
What factors are supporting the market's growth?
The rising demand for calcium chloride to be used in deicing will remain the chief driver of the global calcium chloride market. Considering the purpose it serves, Japan, Canada, and the US, besides other countries experiencing severe snowfalls during the months of winter, will naturally offer the most lucrative prospects for the market. Besides deicing, the rising use of calcium chloride for dust control applications will augur well for the overall market.
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Calcium chloride can retain moisture for long durations hence it used in unpaved road surfaces as a cost-effective dust suppressant. This is yet another application that will continue gaining traction for the market. In the coming years, the awareness regarding dust control solutions is expected to rise, which will in turn fuel the demand for calcium chloride. In addition, the booming construction industry in emerging nations will result in the higher demand for cement, subsequently creating an environment conducive to the growth of the global calcium chloride market.
Which companies are likely to be at fore of the global calcium chloride market?
The global calcium chloride market exhibits a highly consolidated vendor landscape, with three companies commanding dominance. According to TMR, OxyChem, TETRA Chemicals, and B .J Services held over 69% of the global market in 2015. Despite the prevailing consolidation, these companies are focused on gaining competitive advantage by expanding their regional footprint and widening sales and distribution channels across emerging nations. The diversifying uses of calcium chloride have provided these companies with an opportunity to update their policies and gain edge over competition.