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Albany, New York, April 03, 2018 (GLOBE NEWSWIRE) — In a highly consolidated global calcium chloride market top three companies, namely TETRA Chemicals, B.J Services, and OxyChem held 69.1% of the overall market in 2015, reveals Transparency Market Research (TMR) in a new report. Expansion of production facilities, exploring new regions and addition of sales and distribution networks are some of the major growth trends adopted by vendors in this market. Savvy players are also looking into newer applications of calcium chloride that will help expand customer base and thus boost revenue.
As per the TMR report, the global calcium chloride market is predicted to clock a modest 4.2% CAGR between 2017 and 2024. Expanding at this pace, the demand in the market will translate into opportunities worth US$1,520.2 bn by 2024 end from US$1,137.7 bn in 2017. Application-wise, drilling fluids segment is expected to lead accounting for 24.9% of the overall market by 2024. Geography-wise, North America is a key market for calcium chloride due to widespread demand for de-icing applications. Asia pacific calcium chloride market is expanding vis-à-vis value and volume due to increasing demand for calcium chloride in drilling fluids and dust control applications.
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Extensive De-icing Applications in Cold Countries a Boon for Market
Primarily driving the calcium chloride market is extensive demand of calcium chloride as a de-icing agent. Liquid calcium chloride with rock salt is used in cold countries for melting snow to prevent disruption of everyday life. Calcium chloride reduces the need for frequent and repetitive application of salt thereby saving material usage by 40%. Calcium chloride is also advantageous for being active for longer duration which prevents ice from bonding with road surfaces.
Rising demand of calcium chloride for dust control applications is another key factor boosting this market. Calcium chloride is used as a dust suppressant in dust control applications. This is because of property of calcium chloride to help retain moisture for longer periods and helps stabilize unpaved road surfaces. In addition, use of calcium chloride for dust control lowers blading requirements which helps increase durability of roads. The Department of Agriculture Forest Service in the U.S. identified blading to be a contributing factor for the runoff of harmful sediments from roads to roadside streams.
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Rising demand of calcium chloride as a concrete accelerator in the cement industry is further cementing the growth of market for calcium chloride. Calcium chloride if used as a concrete accelerator in the cement industry helps improve the cure rate and reduce the alkali content of cement through volatilization process. With growth of the construction sector leading to increasing demand for cement, the calcium chloride industry is likely to be benefitted.
Inexpensive Production Techniques Leading to Overproduction of Low-grade Products Deters Growth
On the flip side, availability of inexpensive techniques leading to over production of calcium chloride is a challenging the growth of this market. These techniques produce low-grade calcium chloride that are no suitable for high-value applications. Also, downturn in the oil & gas industry has resulted in declining demand for calcium chloride for oil drilling applications.
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Corrosive nature of calcium chloride wherein it absorbs water from air is related to corrosion at lower levels and long durations of relative humidity. As calcium chloride is a salt used as a dust suppressant, concrete accelerator, and tire filler, tests conducted reveal that it is more corrosive than water but less than sodium chloride.
The review presented here is based on the findings of a TMR report, titled “Calcium Chloride Market (Product – Flakes 77%, Flakes 94%, Prills 94%, Pellets 94%, and Liquid Grade; Application – De-icing, Dust Control, Drilling Fluids, Construction, and Industrial Processing) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2024.”
Key Takeaways;
- Widespread use for de-icing applications fuels growth
- Growth of construction sector in Asia Pacific stokes demand for concrete acceleration
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The global calcium chloride market is segmented as follows;
Calcium Chloride Market – Product Analysis
- Flakes 77%
- Flakes 94%
- Prills 94%
- Pellets 94%
- Liquid Grade
Calcium Chloride Market – Application Analysis
- Deicing
- Dust Control
- Drilling Fluids
- Construction
- Industrial Processing
- Others (Including agrochemicals, food, tire ballast, etc.)
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